TradeWinds’ Post

Eastern Pacific signs for up to a dozen car carrier newbuilds. Idan Ofer’s Eastern Pacific Shipping (EPS) has added to its massive orderbook with a fresh deal for up to 12 car carrier newbuilds in China. The Singapore-based diversified shipowner, with around 80 newbuilding projects, has contracted for up to eight 5,500 ceu vessels at Fujian Mawei Shipbuilding and up to four at China Merchants Jinling Shipyard. The order covers four firm LNG dual-fuel units at Fujian Mawei, delivering in 2027, and two firm at Jinling, with shipbuilding sources suggesting a price of about $80m each. The construction of the four mid-sized car carriers will be carried out at Xiamen Shipbuilding, with the owner securing options for an additional four vessels. At the same time, the Jinling Shipyard deal came with two optional units. Earlier this year, EPS also booked up to eight 50,000 dwt MR tankers at Fujian Mawei, with delivery of the four firm ships due in 2026, while Ofer’s cooperation with China Merchants Jinling continued following contracts for a series of 7,000 ceu dual-fuel newbuilds. About 35 firm car carriers have been contracted year-to-date, according to Clarksons data, while last year saw 88 units firmed up mostly across Chinese shipyards and predominantly larger vessels.

🎉 100 years ago, on 23 February 1924, the general cargo tramper Emma Mærsk left the Odense Steel Shipyard in Denmark. The vessel was to be the first of eight Maersk vessels named Emma, a name with a special story. The first Emma Mærsk from 1924, as well as the second from 1928, were named after Mrs. Emma Isbrandtsen, a sister of A.P. Møller’s mother. The last six Emma Mærsk have been named after A.P. Møller’s daughter-in-law, Mrs. Mærsk Mc-Kinney Møller. The eight vessels with the name Emma represent the major shipping segments of the A.P. Moller Group over time: One was a tramp vessel, four were crude oil tankers and one was a product tanker. Number five was a combined container and roll-on/roll-off vessel and the current Emma Mærsk was the world’s largest container vessel when launched in 2006🚢 “Shipping is full of traditions” – such was the first line in a 1985 article about “Six Emma Mærsk ships”. The sixth had just been named at the Odense Steel Shipyard, and it was an opportunity to tell the story of our tradition of using names related to the founding family on our vessels. Nearly 40 years later, we mark the 100th anniversary of the first Emma Mærsk💙 #Maerskheritage #anniversary #supplychain #globaltrade #Maersk

When MSC Mediterranean Shipping Company was revealed recently as the largest owner of container ships of 20 years or older Seatrade Maritime News columnist Michael Grey notes there seemed to be a veiled criticism in many of the comments. Michael explores the merits of older tonnage, shrewd secondhand vessel buys, and operating a balanced fleet. He also questions the unwillingness of banks to finance older vessel acquisitions of the grounds of sustainability. So, is an old ship a bad ship? Let us know what you think. #sustainability #shipping #shipowners #shiprecycling

More than one BOXSHIP newbuild delivering every day this year; Liner shipping has entered 2024 in unexpected rude health thanks to the massive diversions away from the Red Sea soaking up tremendous capacity and putting spot rates at highs not experienced ever before outside of the covid era. Nevertheless, the liner industry will have to contend with another record deluge of new deliveries, which could cap any earnings spurt.  In 2023, shipyards delivered 350 new containerships with a total capacity of 2.2m teu, beating the previous record from 2015 when 1.7m teu was delivered. The 2023 record is now likely to be soundly beaten this year.  In 2024, 478 container ships with a capacity of 3.1m teu are scheduled for delivery, beating the 2023 record by 41%. The container fleet capacity is therefore expected to grow by 10% in 2024,” said Rasmussen. Extrapolating the BIMCO data shows 1.31 boxship newbuilds are delivering each day, every day this year. (by Sam Chambers, Splash Maritime and Offshore News (splash247.com) https://lnkd.in/dFWz3rUm

Eastern Pacific Shipping Pte. Ltd. splashes out $2.45 billion in the construction of up to 12 LNG dual-fueled container ships, each with an impressive capacity of 18,000 TEU ,swelling its vast orderbook to more than 100 newbuildings. Brokers suggested the newbuildings, which can be powered by LNG or conventional marine fuel, would cost more than $200m each. The New Times contract brings the number of firm container ship newbuildings on Eastern Pacific’s orderbook to 17. According to Clarksons Research , the company is scheduled to take delivery of four midsize vessels this year — two scrubber-fitted 6,900-teu vessels from New Times and two 5,920-teu ships from Japan’s Imabari Shipbuilding. The New Times contract brings the number of firm container ship newbuildings on Eastern Pacific’s orderbook to 17. According to Clarksons’ Shipping Intelligence Network, the company is scheduled to take delivery of four midsize vessels this year — two scrubber-fitted 6,900-teu vessels from New Times and two 5,920-teu ships from Japan’s Imabari Shipbuilding. The New Times newbuildings are chartered out to CMA CGM, while Imabari’s boxships are fixed to Orient Overseas Container Line. South Korea’s HD Hyundai Mipo Dockyard is building four LNG-fuelled 1,400-teu newbuildings for the Eastern Pacific. Eastern Pacific ordered the quartet two years ago against long-term time charters from US shipping and logistics company Crowley. HMD will be delivering the feeder vessels next year. Fujian Mawei Shipbuilding is constructing one 3,000-teu boxship that will be delivered next month. Meanwhile, Eastern Pacific has added one more conventionally fuelled 115,000-dwt product tanker newbuilding at state-owned Shanghai Waigaoqiao Shipbuilding. The deal brings the number of LR2 tankers that Eastern Pacific has at the CSSC-controlled shipyard to three. The other two product tankers were ordered last year and are slated to be delivered in February and May 2025. They were ordered against charters from Vitol. Eastern Pacific Shipping's ambitious #newbuilding program encompasses a diverse range of vessel types, including Newcastlemax #bulkers, various tankers (MR2 to #Suezmaxes), #VeryLargeAmmoniaCarriers, #LNGcarriers, and #carcarriers. This monumental moves not only solidifies EPS's position as a leader in sustainable shipping practices but also sets the stage for a new era in #maritime #transportation. #shipping #sustainablility #shippingindustry #containershipping #maritimeinnovation For more insights , pls refer to the link : https://lnkd.in/eQkPUS5t

Luxembourg – April 17th, 2024: DIS announces the signing of a shipbuilding contract with Jiangsu New Yangzi Shipbuilding Co., China, for the purchase of two (2) new Long Range (LR1 – 75,000 DWT) product tanker vessels at a contract price of US$ 55.4 million each. These new very efficient vessels are expected to be delivered to us in September and November 2027, respectively. P. d’Amico, Chairman and CEO of d’Amico International Shipping commented: “I am delighted to announce the agreement to build these two “Eco” product tanker vessels, which should be the most efficient and environmentally friendly LR1 vessels in our fleet. This deal is aligned with our strategic objective of controlling a very modern fleet. Additionally, thanks to this agreement, DIS will further strengthen its presence in the LR1 segment, reaching a total fleet of 8 modern vessels. I believe this segment of the market will continue to offer interesting returns in the next several years. In fact, on the one hand, the product tanker order book is still rather low, in particular for this size vessels, and on the other hand, the secular dislocation of world refining capacity away from some key consuming regions will continue expanding ton-mile demand, likely further benefiting LR1 vessels, which are currently already in high demand from our customers.” #DISIM #damicointernationalshipping #shipping #vessel #eco #investment #producttanker https://lnkd.in/di5nMnzH

Transporting Tugs on a Single Vessel: How Many? 🚢🚤 An insightful look into how many tugs can be transported on one vessel. This logistical strategy aims to optimize maritime operations and reduce transit times. Efficient vessel utilization is crucial for cost-effective maritime transport. 🔗 How many tugs can you transport on one vessel? https://lnkd.in/eievxqB5 #Logistics #Innovation #VesselUtilization #MaritimeOperations #CostEfficiency

⚓Asian Shipyards continuing to dominate⚓ Shipyards across Asia are experiencing a surge in newbuilding orders across multiple segments. Notable contracts include Eastern Pacific Shipping's order for four LR2 tankers, Seatankers' additional VLCC at Dalian Shipbuilding, and CMB Tech's order for 20 stainless steel chemical tankers. This influx highlights significant investments in the maritime sector, with deliveries expected between 2025 and 2028. The strong demand underscores Asia's critical role in global shipbuilding and logistics.

Transporting Tugs on a Single Vessel: How Many? 🚢🚤 An insightful look into how many tugs can be transported on one vessel. This logistical strategy aims to optimize maritime operations and reduce transit times. Efficient vessel utilization is crucial for cost-effective maritime transport. 🔗 How many tugs can you transport on one vessel? https://lnkd.in/evjyjcCm #Logistics #Innovation #VesselUtilization #MaritimeOperations #CostEfficiency

Transporting Tugs on a Single Vessel: How Many? 🚢🚤 An insightful look into how many tugs can be transported on one vessel. This logistical strategy aims to optimize maritime operations and reduce transit times. Efficient vessel utilization is crucial for cost-effective maritime transport. 🔗 How many tugs can you transport on one vessel? https://lnkd.in/evjyjcCm #Logistics #Innovation #VesselUtilization #MaritimeOperations #CostEfficiency