Resolution may finally be in sight for some of the rig newbuildings being constructed for Sete Brasil at Keppel Offshore and Marine and Sembcorp Marine (Sembmarine) on which progress payments stopped in late 2014 and worked stopped on in the following year.

Cosco Shipping Bulk has inked a contract for eight 210,000 dwt bulk carriers newbuildings, plus options for two more with Cosco Shipping Heavy Industry in Yangzhou, Jiangsu province.

Dubai-based Tristar Group has ordered six newbuild 25,000-dwt oil and chemical tanks at Hyundai Mipo Dockyard on the back of long term charters with oil major Shell.

Hyundai Heavy Industries (HHI) has announced on Sunday an order win for a 174,000-cu m LNG carrier, bringing its recent newbuilding orders to a total value of KRW700bn ($630m).

Teekay Offshore Partners has clinched a $414m long term debt facility to finance its four LNG-fuelled suezmax DP2 shuttle tanker newbuildings.

The International Chamber of Shipping has warned that avoiding overcapacity and unsustainably low freight rates is still a major challenge 10 years after the massive downturn of 2008.

CMA CGM has approached China State Shipbuilding Corp (CSSC) to build ten new 15,000-teu containerships, including five LNG-powered and five fitted with hybrid scrubbers.

China’s Ningbo Xinle Shipbuilding Group announced that the company has signed a contract with M.E.Marittima Emiliana SPA to build two 4,500 dwt chemical tankers.

Taiwan Navigation has placed an order for two new 80,000-dwt bulk carriers at Japan’s Namura Shipbuilding.

The important place of the shipping industry and its participants in Greece’s overall economic picture as the country struggles to climb out of financial crisis was again evident when financial powerhouse PricewaterhouseCoopers (PwC) recently presented a study on mergers and acquisitions in Greece in 2018.

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