South Korean shipping company KSS Line Ltd., a specialist in transporting chemical cargoes, signed a time charter contract on Thursday, September 17th, with Japanese LPG importer GYXIS Corporation for a liquefied petroleum gas (LPG) carrier. The vessel in question, referred to as the Hull No H-2890 is a 84,000 cbm class LPG carrier. The ship has been hired for a seven-year charter, priced at KRW 165 billion (USD 136.6 million). The move comes following a similar deal with GYXIS Cor...

Japanese carriers Mitsui OSK Lines (MOL) and Nippon Yusen Kaisha (NYK) have each ordered two newbuilding LNG carriers on the back of long term charter contracts with Chubu Electric Power. The four new LNG carriers, with capacity ranging from 177,000-180,000 cu m, will transport LNG that Chubu Electric Power is procuring from the Freeport LNG Project in the US state of Texas. MOL has ordered one new ship each at Mitsubishi Heavy Industries and Kawasaki Heavy Industries, while NYK went to Mits...

China’s Shandong Huahai Shipbuilding has started a restructuring process in an attempt to clear its debts, and a first creditors’ meeting is scheduled on 29 October, reports said.   Shandong Jintuo Energy Co, the main creditor of Huahai, applied to Rizhao City Intermediate People’s Court to restructure the privately-owned shipyard on 30 August.   Since last year, Huahai has already faced financial difficulties amid the recession of the global shipbuilding industry.   In Oc...

NYSE-listed dry bulk shipping company Scorpio Bulkers resold five more of its newbuildings currently under construction in China and Romania for a combined price of USD 236 million. Scorpio Bulkers agreed to sell three Capesize dry bulkers and two LR2 product tanker newbuildings. The Capesize vessels are currently being constructed in China, and have expected delivery dates between the first quarter of 2016 and the second quarter of 2016. The LR2 product tankers are curr...