The shipping and shipbuilding sectors are expected to face another challenging year in 2015, with tonnage oversupply continuing and newbuilding prices staying low, according to B.S. Park, chairman and ceo of Korean Register (KR).   The oversupply problems have yet to be resolved in the dry bulk carrier and oil tanker sectors, while the shipbuilding industry will see weak newbuilding prices, Park pointed out. “The shipbuilding industry will experience fierce competition between Korean...

China is also expected to exceed Greece in terms of total fleet capacity by 2030. That’s the prediction of the Shanghai International Shipping Institute which has just released its 2030 China Shipping Development Outlook report.   The report also forecasts that China will be the world’s largest cruise market, and Chinese shipyards are expected to get about 11 percent of the world’s cruise ship orders by the time.   According to the report, by 2030, China’s total international shi...

New shipbuilding orders placed at China’s shipyards have all gone to 54 of the country’s bigger shipbuilders in the first two months of this year, according to China Association of the National Shipbuilding Industry (Cansi). Between January to February 2015, Cansi recorded 3.82m dwt of newly completed vessel capacity at Chinese yards, all of which are registered at the 54 larger yards named by the association. At present, there are slightly more than 100 Chinese yards in “full operations...

Japan’s K Line has entered into a long term charter contract and construction of a new 164,700 cu m LNG carrier to serve Chubu Electric Power.   The new Moss type LNG carrier will be build at Sakaide Shipyard of Kawasaki Heavy Industries (KHI) and delivery is scheduled at the end of 2016. K Line has already executed previous long term time charter contract for a similar LNG carrier with Chubu Electric in April 2013, and this contract for the second ship is based on subsequent contrac...