The four 64,000 gt luxury cruiseships will be delivered to MSC between 2023 and 2026

The first pair was originally placed with Daehan by Norwegian company Faerder Tankers before being purchased by the Angelicoussis Group.

Meanwhile, a lot of progress has been made on the disposal of the Long Beach Container Terminal, Fitzgerald tells Lloyd’s List on the sidelines of a shipping conference

News that South Korea’s HHI has reached agreement to take over rival DSME should remind us that shipping is becoming more consolidated. Even so, there is still room for new entrants.

Huarong says the arrangements will allow it to alleviate its financial burden and focus on its oil production business

The deal is the second of three options to build similar rigs that Awilco Drilling signed in 2018 which will come due at yearly intervals

While the number of active shipyards has shrunk significantly since 2009, hopefully the power of consolidation will truly revive the industry

The tightening shipping emission rules have created additional demand for the shipbuilding industry, including the Chinese yards, highlighted by the recent partnership between DSIC and DNV GL to develop LNG-fuelled 23,000 teu ships

The plan will hit a nerve of many foreign shipping players

Debt-to-equity swap investors albeit state-backed will need to withdraw properly

Capesizes and very large crude carriers lead the way as investors adopt risk-averse approach

Lack of support from domestic owners overshadows Korean builders’ prospects