Leading developer of global integrated marine compressed natural gas (CNG) projects, Global Energy Ventures has signed of a Letter of Intent (LOI) with Yantai CIMC Raffles Offshore to build up to eight CNG vessels.

Hyundai Mipo Dockyard (HMD) has bagged an order to build two new product tankers worth a total of KRW87.9bn ($76m) for an unnamed European shipowner.

John Fredriksen’s Frontline has boosted its tanker fleet with an acquisition of a VLCC resale and an order for two LR2 ships.

Chinese shipyards saw newbuilding orders plunged in the first four months of this year on the back of an overall weak international shipping market and declining new orders globally, according to the China Association of the National Shipbuilding Industry (Cansi).

Global logistics solutions provider, Pangaea Logistics Solutions, inked contract with Chinese shipbuilder Guangzhou Shipyard International (GSI) to build two post-panamax 95,000 dwt dry bulk carriers plus options for two more vessels.

Singapore Technologies Engineering (ST Engineering) has clinched a contract from the US Department of the Navy to build an icebreaker vessel worth approximately $746m.

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).

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