Wilson builds 8 bulk vessels

Wilson has entered into an agreement with a Chinese shipyard for the construction of a series of 8 bulk vessels of 4.500 dwt. As part of the company`s stated growth strategy, Wilson has today entered into an agreement with a Chinese shipyard; Shandong Baibuting Shipbuilding Co Ltd (Rong Cheng, China) regarding the construction of 8 bulk vessel of 4.500 dwt. The agreement contains various reservations from both parties, hereunder mutually acceptable guarantees.

The subjects are expected to be lifted during first quarter 2008. The vessels are scheduled to be delivered from mid 2010 until primo 2012 and will have a cost price to the yard of about MUSD 10,4/vessel. Final information about the agreement will be made public as soon as the subjects are lifted and the contract becomes effective.
Wilson is currently operating a fleet of 107 vessels of which 47 within the 3-4.500 dwt segment.

Allseas to build world's biggest ship

A Swiss-based shipping group has begun work on what will be the biggest ship ever built. The Pieter Schelte, envisaged as two supertankers joined in a catamaran design, will be used to decommission oil platforms in deep-water areas. It is the brainchild of Edward Heerema, the president of Allseas, the shipping and engineering group. The ship will be designed so that it can come alongside an oil platform, slice off the top half and then turn around and pull up the legs from the seabed. Industry sources estimate that the ship will cost more than £1bn to build. The current design is for the ship to be 1,200ft long and 400ft wide - making it larger than the world's biggest oil tanker. It will displace 840,000 tonnes, making it the world's biggest ship. It will have a lift capacity of 48,000 tonnes for topsides and 25,000 tonnes for jackets or legs. It will travel at a speed of 12 knots.
Babcock, the support services group, is doing the basic design of the ship. Allseas is already in talks with shipyards in China and Korea to build the vessel. The company began conceptual studies of the vessel more than 20 years ago when the decline of North Sea energy fields still seemed some way off. Its original plan involved joining together the hulls of two existing tankers.
Oil industry experts believe that with operating and environmental costs now rendering some of the older installations a liability, the timing of the mammoth project is now right.
"There is no market for this right now. But the market is expected to be huge," said one industry executive. It is estimated £12bn to £14bn will be spent decommissioning platforms in the North Sea between 2012 and 2025, he added.
Allseas hopes to be able to take delivery of the ship in 2010.

Hyundai Heavy Wins US$737 MLN Order to Build 9 Container Vessels

Hyundai Heavy Industries Co., the world's largest shipbuilder, said Monday that it has received a contract valued at 679.8 billion won (US$737 million) to build nine container vessels for a Singaporean company. The deal requires Hyundai Heavy to deliver the vessels by December 2011, it said. Hyundai Heavy shares fell 1.17 per cent to 464,500 won as of 11:55 a.m.
South Korea, home to seven of the world's top 10 shipyards, clinched record-high orders last year because of strong demand for crude oil carriers and offshore exploration equipment as oil prices remained high.
In the first six months of the year, South Korean shipbuilders also secured a record US$33.2 billion worth of orders, thanks to a surge in global demand for new vessels, up 51.3 per cent from a year earlier.

G E Shipping contracts to buy 2 Supramax Dry Bulk Carriers

The Great Eastern Shipping Company Limited (G E Shipping) has placed an order for 2 new building Supramax Dry Bulk Carriers. These vessels (of approx 57,000 dwt each) are being built at the Cosco (Zhoushan) Shipyard Co.Ltd, and are expected to join the Company's fleet during Q4 FY 2009-10. The objective of ordering these dry bulk vessels is with a view to enhance tonnage and participate in the increasing opportunities in the dry bulk commodities trade. In line with the same view, the Company had contracted to buy 2 new building Kamsarmax dry bulk carriers in Oct'07, which are expected to join the Company's fleet in Q4 FY10-11 & Q1 FY11-12 respectively. With this contract, the Company's current new building order book comprises 8 vessels aggregating 0.57 mn dwt (4 LRI product tankers aggregating 0.30 Mn dwt & 4 dry bulk carriers aggregating 0.27 mn dwt).