Derecktor Selected to Operate New Megayacht Shipyard in Fort Pierce, Florida

Derecktor Shipyards has been chosen develop and operate the first purpose-built megayacht repair and refit yard in the United States located in Fort Pierce, Florida. The yet-to-be-built yard will be developed to service yachts of over 200 ft. and 900 plus tons. It will also include a 1400 ton mobile hoist (along with a 3500 […]

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Viking Heavy Weather Tests High-Capacity Passenger Evacuation System for Cruise Ships

Danish life-saving equipment manufacturer Viking Life-Saving has successfully test its new high-capacity passenger evacuation system, bringing it one step closer to market for large cruise ship operators worldwide. Viking calls the system the most exciting innovation in passenger evacuation systems in decades. Known as LifeCraft™, the system combines the advantages of lifeboats and liferafts, and […]

Project to Test Feasibility of Sail-Powered Bulk Carrier

Danish shipowner Ultrabulk has teamed up with a handful of companies in the UK the feasibility of fitting a modern bulk carrier with sail power in hopes of advancing technology that could help overall CO2 emissions in the shipping industry. For the project, Ultrabulk is teaming with Drax, operator of the UK’s largest power station, […]

South Korean Shipbuilders’ Lock on LNG Tanker Market Could Last for Years

By Jane Chung and Yuka Obayashi SEOUL/TOKYO, Nov 20 (Reuters) – South Korean shipyards have boxed out their Japanese rivals from the market for building large ships carrying liquefied natural gas (LNG), winning all of the orders for the next three years worth more than $9 billion. Three South Korean yards – Daewoo Shipbuilding & Marine […]

Blessing in Disguise? IMO 2020 Could Help Container Shipping Achieve Elusive Supply and Demand Balance

By Sam Whelan, Asia correspondent (The Loadstar) – The IMO’s 0.5% sulphur cap, to be imposed in January 2020, could be a “blessing in disguise” for shipping lines, should the regulatory fallout finally end the industry’s elusive search for supply and demand balance. However, any benefits will not materialise without short-term pain, according to analysts […]

India to Probe Alleged Antitrust by Maersk, DP World at Mumbai Port, Sources Say

By Aditya Kalra and Aditi Shah NEW DELHI, Nov 20 (Reuters) – India’s antitrust regulator has ordered a probe into alleged anti-competitive practices by Denmark’s A.P. Moller-Maersk and Dubai’s DP World at the terminals they operate at the country’s largest container port in Mumbai, five sources familiar with the matter told Reuters. The decision by […]

Digital Crew Cash: NYK Said to Be Exploring New Digital Currency for Seafarers

By Kiyotaka Matsuda (Bloomberg) — Nippon Yusen K.K., Japan’s largest shipping line by sales, is introducing its own digital currency for crew members, people with knowledge of the matter said. The goal is to make it easier for seafaring workers to manage, send and convert money into their local currencies, said one of the people, […]