The ship industry briefing
The latest news, views and numbers you need to know this month
News in Numbers
$1.7bn
Shipbuilding firm Samsung Heavy Industries has secured a $1.7bn order from an unnamed Eurasian company to provide design, parts and blocks for seven shuttle tankers.
51%
Germany’s Hapag-Lloyd has reported an almost tenfold surge in its first half profits to $3.3bn, as freight rates increased ‘significantly’ due to scarce transport capacities. Revenues soared 51% year-on-year to $10.6bn.
52%
Dubai-based port operator DP World has reported a doubling of in first half-profit, driven by strong growth in India, Australia and the UK. DP World recorded cash from operating activities of $1.49bn during the first six months of this year.
21%
Abu Dhabi Ports Group has reported a 21% year-on-year increase in revenue in the first half of this year, benefitting from diversification into new businesses and organic growth.
$825m
South Korean shipbuilder Samsung Heavy Industries has won an $825m contract for the construction of four liquefied natural gas carriers.
$135m
Norway’s MPC Container Ships has agreed to offload six ships for a combined $135m. The firm has also agreed a $180m, five-year senior secured credit facility with Hamburg Commercial Bank.
$270m
South Korean shipbuilder Hanjin Heavy Industries and Construction has secured a $270m contract for the construction of four container ships.
Business
CIMC Raffles secures contract for four dual-fuel PCTCs
China’s Yantai CIMC Raffles Shipyard has received an order from UK-based shipping firm Zodiac Maritime for the construction of four dual-fuel pure car truck carriers. As part of the contract, the shipping firm also has an option to buy additional ships in the coming years.
Source: Ship Technology
Navios Maritime finalises purchase of Navios Maritime Acquisition
Dry cargo vessel owner Navios Maritime Partners has concluded the takeover of tanker owner Navios Maritime Acquisition after receiving confirmation from unitholders.
This merger is said to have established the largest US publicly-listed shipping firm, comprising more than 140 ships with a combined deadweight of nearly 15 million tonnes and fleet value of $4.2bn.
Source: Ship Technology
Stonepeak signs agreement to acquire Teekay LNG Partners for $6.2bn
New York-based investment firm Stonepeak has signed an agreement to acquire Teekay’s liquefied natural gas shipping unit, Teekay LNG Partners, for $6.2bn.
Source: Ship Technology
LNG TO BREAK THE ICE
Wärtsilä Voyage has secured an order to supply radio and integrated navigation systems for ten icebreaking liquefied natural gas tankers, which are to be built for the Arctic LNG-2 project. The new contract, which was placed in January, will now be implemented in partnership with Samsung Heavy Industries shipyard.
Source: Ship Technology
Quotes
Stephen Cotton, General Secretary of the International Transport Workers’ Federation, Gives thought on an OPEN LETTER published on the day of UN General Assembly’s General Debate in New York
“Transport workers have kept the world’s supply chains and people moving despite the neglect of world leaders. They have worked through border closures, an inability to return home, a lack of access to healthcare, restrictive quarantine requirements and the complete uncertainty borne from government ineptitude.
"Frankly, they’ve had enough. The time has come for heads of government to respond to these workers’ needs, if not they will be responsible for the collapse of supply chains, and the unnecessary deaths and suffering of workers and citizens caught in the crisis. That blood and that chaos will be on their hands.”
IMO Secretary-General Kitack Lim comments ON the new partnerships between the Kingdom of saudi arabia and the IMO
"IMO is committed to a global approach to environmental protection, with capacity building in developing countries to ensure that no member state is left behind on this important journey. Lowering emissions, reducing marine litter and tackling invasive aquatic species are vital to preserving our oceans.
"I am very pleased that these agreements will go towards IMO projects to help reduce the impact of shipping on our oceans. They demonstrate our continued commitment to protecting our environment."
