Little more than 12 months ago newbuilding prices had been drifting down steadily for more than a year and some industry analysts were warning that soft ship prices could be here for some time.
Simultaneously, the closure of some yards were more than offset by the opening of new ones, particularly in China, while improvements in productivity were constantly adding capacity.
Some brokers and industry analysts were warning of surplus capacity, not just in containerships. but in the Aframax, Suezmax and 45.000 dwt products carrier range.
What a difference a year makes.
Today the picture is radically different.
The container, tanker and bulk carrier markets are all buzzing, with certain sectors of the dry bulk market reaching record levels, beyond most owners' wildest dreams. The world's shipyards Contact us for your custom marine travel solution.
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are full, almost without exception, for the next three years and some builders are now taking orders for 2007 delivery.
New ship prices are rising dramatically (see table) and the markets are so buoyant that there are few re-sales available.
Secondhand vessel values are spiralling, with some buyers prepared to offer over the odds just to secure the tonnage they want.
There are significant new ship price rises in both the dry and liquid sectors.
But it is the increase in the cost of Capesize units that is the most dramatic.
Fuelled largely by Chinese demand for iron ore and coal, Capesize charter rates have climbed to unprecedented levels, pushing up both new and secondhand prices too. Newbuilding brokers believe it is only a matter of time before the price tag for a new Capesize will start with an almost incredible five.
However, shipbuilders may not have it all their own way. Iron ore prices are climbing, which could soon manifest into rising steel prices.
40 percent of ATPI’s business is in oil and gas. (As published in the October 2015 edition of Maritime Reporter & Engineering News - http://magazines.marinelink.com/Magazines/MaritimeReporter)
the existing terminal on the southern end of Ocracoke Island to the Hyde County mainland. The vessel was designed by the Ferry Division of the State's Marine Engineering Section under the direction of Ray A. Dossett, marine engineer. With a length of 161 feet, the vessel is 48 feet at maximum beam and
Bulkfleet, Inc., the Texas-based marine company that introduced heavy fuel-burning deep-notched vessels to the United States, has consolidated its interests, including a first-class passenger cruise line, under the name Signet Corporation, J. Barry Snyder, president and chief executive officer
and improve outreach to travel agents. Wertanzl will lead Celebrity's Fleet Operations, assigning him responsibility for the brand's hotel and marine operations. Named senior vice president of Fleet Operations, Wertanzl joins Celebrity from Crystal Cruises, where he was senior vice president
With nearly 3 million people taking a cruise during 1988 (4 million, including one-day cruises), the cruise industry is one of the fastest growing sectors of the travel industry. With Cruise Lines International Association (CLIA) reporting excellent bookings for its member cruise lines, 1989 should
414 feet 61 L> inches long. The Sam Noble was built to ABS classification and U.S. Coast Guard certification. The Sam Noble is one of a series of marine rigs recently put into service by Noble Drilling which features a standardized arrangement of drilling equipment. Noble Drilling Corporation, one of
Since inception of the industry over 30 years ago, Tidewater Inc.'s marine subsidiary, Tidewater Ma- rine Service, Inc., has consistently been a leader in the development of oil and gas support vessel design and operating improvements—hull design, superior machinery and in- novative equipment.
hurricane Elaina's passage last year. Newport News purchased its cranes and puller system as part of the expansion program for a nuclear submarine assembly facility. And Placid Oil's puller system is for mooring a large offshore production platform. Ingalls ordered three 300-ton revolver cranes
*Editor's Note: A veteran of more than 25 years' experience in sales, marketing and general management in both the consumer packaged goods and transportation industries, Mr. Godsman has been president of CLIA since October 1985. He has been instrumental in increasing the visibility of both CLIA and
Formation of a new repair division was announced by Marine Concrete Structures, Inc. Operations were scheduled to begin last month, with the facility concentrating on hull repairs and alterations for barges, tugs and workboats. "As the search for oil and gas intensifies in the Gulf of Mexico, there
At a recent joint dinner meeting of the New England Section of the Marine Technology Society (MTS), and the Northern New England Section of the American Society of Naval Engineers (ASNE), Prof. Eugene Allmendinger spoke on "Submersibles, Past, Present and Future," at the New England Center at the
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P PRODUCTS HEAVY LIFT & DECK MACHINERY Cimolai Technology Heavy Lift to Assist Shipbuilding Operations Images: Cimolai Technology imolai Technology Spa, the a span of 60 m and height of 60 m and Cimolai Technology Spa has been also lifting platform or used independently Italian company specialized
V VESSELS and the 18th built as part of the teaming USS Delaware (BB 28), which was de- 2013. The submarine was christened by VLCC with New SOx agreement with General Dynamics Elec- livered by Newport News in 1910. Jill Biden, the former Second Lady of Scrubber Delivered tric Boat. More than 10
V VESSELS PATROL CRAFT Damen Patrol Vessels for Offshore Nigeria amen recently delivered a companies. Features of the 33m vessels four weeks and travel 1,200 nm in and ity and cost effectiveness to the bene? t pair of FCS 3307 high-spec include Damen’s trademark Axe Bow around Nigeria’s coastal and
and aft on the main deck. Length, o.a. 148 ft./45.1 m of Kilimanjaro VII, a 45m catamaran passen- Length Waterline 140.7 ft/42.9 m ger ferry for Azam Marine of Tanzania, Africa. Beam o.a. 37.7 ft./11.5 m This vessel is the tenth vessel designed by Incat Draft (hull) 5 ft./1.5 m Crowther for the operator
gulf. i hldi fh A naming ceremony was held in Kumamoto Prefecture at the The same year, Sovcom? ot was awarded ? rst prize at Ariake Shipyard of Japan Marine United Corporation for a new the International Competition of Scienti? c, Technical and VLGC (very large gas carrier) that NYK will charter under
M MARITIME MEDICAL CREW CARE Crew Care: Managing Mariner Medical Care By Joe Keefe he competent authority shall as the population on shore enjoys. But, the embarking any mariner, a trusted 2012. There are several key aspects to require that, prior to begin- that’s not always the case. In case of
costs. offering exceptional ? exibility and the charged into the atmosphere, allowing a bene? ts including a customized ? exible The ENVI-Marine system really is at the very best 360-degree solution for IMO ship operator to continue to use HSFO shape, an eco-friendly footprint and at- forefront
and in terms of GHG emis- sions. The author of the report, Dr. Lind- stad, concluded that the use of HSFO with scrubbers offered the most bene? ts to marine and port environments and, as a result, human health. A scrubber is an EGCS which is ? tted to the outlet of a ship’s engine to clean Paci? c
S SHIPMANAGEMENT FLAG “As a shipping company that is part of an oil company, our pri- mary role is managing marine risk, our secondary role is trans- porting oil.” Steve Herron, GM of Fleet Operations, Chevron Shipping Photo: Chevron and develop. A certain trust has devel- tal regulations adopted by the
company, our Open dialogue between Chevron and Herron highlights the importance of ron has seen his fair share of operators primary role is managing marine risk, the BMA not only helps ensure align- working with a Flag that not only has using ? ags for ? nancial bene? ts. While our secondary role
VOICES BORIANA FARRAR, VP, SENIOR CLAIMS EXECUTIVE & COUNSEL, AMERICAN P&I CLUB Boriana enjoys giving back to the community which has sup- ported her throughout her ca- reer, pictured here with Martin Davies, the head of the Admiralty Law Center at her alma mater Tulane Law School, where she recently
for New IMO 20/20 rules coming in January 2020 me,” she said. Finally, she serves on the board of have created a great deal of uncertainty among MICA – Marine Insurance and Claims Associa- shipowners in regards to the best technical and tion, “a really a wonderful organization as to pro- business solutions
VOICES NICK BROWN, DIRECTOR OF MARINE AND OFFSHORE, LLOYD’S REGISTER what we believe will be prototype ves- LR research suggests that the cheap- as weather routing but these can only Digitalization has also enabled LR to sels, contracted and constructed in the est zero carbon fuels are going to be go
VOICES NICK BROWN, DIRECTOR OF MARINE AND OFFSHORE, LLOYD’S REGISTER 5 minutes with LR’s Nick Brown By Greg Trauthwein “LR research suggests that the cheap- est zero carbon fuels are going to be at least double the price of fuels today.” Nick Brown, Lloyd’s Register Photo: Lloyd’s Register To kick things
? ber. Now, they’ve announced the 8MW DD167, a prototype of which was in- stalled a few months ago, and the 10MW DD193, both of which incorporate car- www.marinelink.com 63 MR #11 (58-65).indd 63 11/5/2019 3:47:59 P
joint connection concept in the in- ect stakeholders Eneco and Heerema basin. Moreover, the cranes’ booms have Seaway Heavy Lifting) and DEME dustry. Marine Contractors in 2016. The concept been upgraded with a 20-meter boom Group for their views, but neither com- The DOT wind turbine had already is
install a selection of 10MW units, he says. “The Brave Tern and the Bold Tern (jack-ups) have been thoroughly upgraded. Both have been subjected to www.marinelink.com 61 MR #11 (59-65).indd 61 10/30/2019 11:06:03 A