Daewoo Shipbuilding & Marine Engineering Co Ltd said on Monday it has won a 339.3 billion won ($316 million) order to build a liquefied natural gas (LNG) carrier for Russian state-owned shipper Sovcomflot. A spokesman for the South Korean shipbuilder said the order is the first of 16 gas carriers that Daewoo agreed in July last year to reserve construction slots for future building, intended for use in Russia's Yamal natural gas development project. Daewoo said the LNG carrier, which w...

South Korean shipbuilders ranked top in the volume of new orders won for the second consecutive month in February, outdoing their Chinese rivals by more than double, industry data showed Wednesday. Global market researcher Clarkson Research Services said South Korean shipbuilding companies obtained orders totaling 1.39 million compensated gross tons (CGTs) in February, up 19.9 percent from 1.16 million CGTs a year ago.   The number is equal to 45.7 percent of the global ship orders of 3...

              NEWBUILDING GENERAL COMMENT With the Chinese New Year celebration taken place over the last week, the newbuilding order activity has slowed down. We do however expect the activity to accelerate over the next weeks. Interesting to notice that Cosco shipping has released a 3 year fleet renewal program sparked by the Chinese government subsidy scheme for scrapping old tonnage and replacing them with new Eco-version ...

K Line has ordered another four car carrier newbuildings from domestic shipbuilders adding to four contracted in September. As with the earlier orders they have been split between Shin Kurushima Dockyard and Japan Marine United Corporation. The Japanese shipowner said deliveries are scheduled to start in 2015 and continue through the first quarter of 2017. “By adding this series of eight new ships with better stability and better fuel efficiency, we continue to deliver improved efficiency w...