High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Daewoo Shipbuilding & Marine Engineering (DSME) won a newbuild order from Sovcomflot today to build a 170,000 m3 icebreaking LNG carrier. The vessel will be used to deliver liquefied natural gas from the Yamal Peninsula and is the first of 16 LNG carriers that DSME will likely build for Sovcomflot in the coming years.
The total value of the order is KRW 339.3 billion (USD $318 million) and the vessel is due for delivery mid-2016 according to an exchange statement.
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