New Dry News

HGK Shipping ordered from De Gerlien van Tiem shipyard in Druten, Netherlands, a new, low-emission dry goods vessel, a vessel to be specially tailored to the requirements of Salzgitter Flachstahl. Equipped with a diesel-electric drive system and solar panels and designed to be “future-fuel-ready”, the new vessel is outfitted to make a contribution to the sustainability ambitions of HGK Shipping and Salzgitter AG. Once it goes into service, it will replace one of the three vessels from the existing fleet…

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced over $653 million to fund 41 port improvement projects across the nation under the Port Infrastructure Development Program (PIDP).The investments—part of the largest dedicated funding for ports and waterways in history, nearly $17 billion through the President’s Bipartisan Infrastructure Law—are intended to help grow capacity and increase efficiency at coastal seaports, Great Lakes ports and inland…

Born in 1998 and celebrating its 25th anniversary in 2023, Heger Dry Dock holds a unique position as one of the few engineering firms in the world dedicated to the design and lifecycle engineering of drydocks, primarily floating dry docks. Premal Shah, P.E., President and Principal Engineer, discussed some of the company’s recent contract wins with Maritime Reporter & Engineering News.Specializing in the design and lifecycle maintenance of floating dry docks, Heger Dry Docks was founded 25 years ago, and still run today by one of its co-founders, Bob Heger.

A christening ceremony at Oshima Shipbuilding yard in Japan was recently held by U-Ming Marine Transport Corporation (TSEC code: 2606 – one of nine public-listed companies of the Far Eastern Group) for its new built 99,990 DWT Post Panamax Bulk Carrier M.V. Cemtex Dominance.The event was hosted by Mr. Douglas Hsu, Chairman of the Far Eastern Group on July 12, 2022, with attendance of Mrs. Tracy Tsai Wang, who christened the vessel and also many business associates and distinguished guests.Measuring 235m in length and 40m in width, M.V.

DBX, a new dry bulk commodity analytics firm based in London, officially launched earlier this year having successfully completed Signal Venture’s incubation program, and it has now initiated a round of seed funding.The venture started in the summer of 2020 with all around support from Signal Ocean. This support included financial, data, technology and recruitment, OilX, an oil commodity analytics firm previously launched by Signal, also provided high level technical support.DBX…

On Wednesday, May 4, 2022, Everett Ship Repair, LLC (ESR) hosted a naming ceremony and grand opening for their newest drydock, the Emerald Lifter. The Emerald Lifter, formally the Zidell 220, was relocated to ESR’s facility at the Port of Everett last month. ESR performed maintenance and preservation before it was put into operation on May 3, with it’s first drydocking.The Emerald Lifter has a lifting capacity of 2,000 tons and a working deck of 220’ x 62’. It will be in use along with ESR’s existing dry dock the Faithful Servant…

Austal USA on Monday revealed it has ordered a new dry dock that it said will become the centerpiece of its new repair facility in San Diego.Construction on the dry dock began Monday at Sedef Shipyard in Turkey, and the completed vessel is scheduled to be fully operational in Austal’s new West Coast yard by August 2023.The dry dock will have a 9,000 light ton lifting capacity. It will be 531 feet (162 meters) long, 154 feet (47 meters) wide, with a maximum draft of 36 feet (11…

Eastern Shipbuilding Group is one of America’s leading shipbuilders. Perhaps best known for its history building tugs, towboats and offshore supply vessels, the company is today finding success in other markets, with notable build projects underway for the U.S. Coast Guard, Staten Island Ferry and dredging contractor Weeks Marine. Eastern’s president Joey D’Isernia weighs in on the yard’s current workload, market drivers and the challenges overcome and on the horizon.Where do you see the best opportunities for Eastern Shipbuilding Group today?We see a lot of opportunity in the defense sector…

Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs. Freight rates and ship values have also risen but although they exceed prices seen during most of the 2010s, they are still far below super cycle levels.“Commodity prices have staged a comeback and are hovering around or above 2007 and 2008 levels. This has fuelled talk of a commodity super cycle. However, while dry bulk freight rates and ship values are currently high compared to the past 10 years…

Canadian shipping company Algoma Central Corporation announced Monday that it has taken delivery of its new dry bulk carrier Captain Henry Jackman from the Jiangsu Yangzi-Mitsui Shipbuilding Company in China.The vessel is expected to begin trading on the Great Lakes in late June following its transit from China to Canada via the Panama Canal. The voyage is scheduled to commence in mid-April.The Captain Henry Jackman is the fifth Equinox Class gearless dry-bulk carrier and the tenth Equinox Class vessel to join the Algoma fleet. It is also the most efficient.

Biblia, Inc., Marine Towing and Transportation has ordered a new dry dock to service its fleet tugs and barges.The 500-ton lift capacity floating dry dock was designed by JMS Naval Architects and is currently being built by Conrad Shipyard in Morgan City, La. The new dry dock, which will replace Biblia’s existing dry dock in Savannah, Ga., is 120’ long, 60’ wide, has a 6’ deep pontoon, and 14’ tall wing walls. It will primarily be used for hauling tug boats with a maximum length of 120 feet and draft of 10 feet.Biblia owns and operates a fleet of tugs and barges…

An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the world. High deliveries and low contracting have left the orderbook at multi-year lows, but – with the poor outlook – the current influx of new dry bulk ships orders is not what is needed.Demand drivers and freight ratesThe biggest story in the dry bulk industry in recent months has been the strength of the recovery in major Chinese imports. These are up across the board…

Saudi Arabia's national shipping company Bahri has ordered ten 49,999-dwt Medium Range (MR) chemical tankers from Hyundai Mipo Dockyard, part of South Korea's Hyundai Heavy Industries (HHI).Bahri said the order, signed at a virtual ceremony,  was valued $410 million, meaning $41 million per vessel. The first deliveries are expected in the first quarter of 2022.Seung-Yong Park, Chief Operating Officer and Senior Executive Vice President of HHI, said the latest order would bring the tally of various types of vessels that HHI has built for Bahri to 61.In May 2020…

William P. Doyle is the incoming Executive Director of the Maryland Port Administration. A former U.S. Federal Maritime Commissioner, Doyle currently serves as CEO & Executive Director of the Dredging Contractors of America – and the group's member companies have recently made a series of announcements to build new dredges of several types and sizes. We caught up with the incoming Port of Baltimore head to discuss his initial goals for the new role. How do you feel about being selected the head of MPA and Executive Director of the Port of Baltimore?I feel terrific.

Bollinger Quick Repair, LLC, a Bollinger Shipyards LLC company, has taken delivery of a new 3,400 ton dry-dock.Built at Bollinger Shipyard’s Amelia, La. facility, the dock is now in service and measures 219’7” X 84’, with a wing wall depth of 15’, and is rated for 3,400 tons, said Bollinger President & CEO, Ben Bordelon.The dry-dock is named in honor of long-time Bollinger employee Eddie Barnes, Jr., who joined Bollinger Shipyards on June 29, 1972 and during his tenure with the company has held various key production positions such as Dockmaster, Foreman and Superintendent.

Small shipyards in the U.S. are critical to the nation’s maritime operations and economic security. Typically family-owned and employing less than 1,200 workers, America’s small shipyards support more than 400,000 jobs, employ more than 100,000 Americans directly and contribute tens of billions in gross domestic product, according to the U.S. Department of Transportation’s Maritime Administration (MARAD).In an effort to help support these vital assets, MARAD’s Small Shipyard Grant Program provides funds to help drive efficiency…

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced $19.6 million in grants to support capital improvements at 28 U.S. small shipyards as a part of its Small Shipyard Grant program. The grants enable small shipyards to modernize equipment and processes to fuel future growth. “These grants help create jobs in America’s small shipyards, which play a significant role in our country’s maritime sector,” said U.S. Transportation Secretary Elaine L. Chao.In 2013, U.S. shipbuilders produced $37.3 billion in gross domestic product.

The new dry bulk shipping company G2 Ocean and emerging markets specialists Manuchar have announced the successful trial of CargoX’s blockchain-based Smart Bill of Lading (B/L) Solution, and in doing said the traditional bill of lading is “ready for retirement."According to a statement form G2 Ocean, a joint venture of two of breakbulk and bulk shipping companies - Gearbulk and Grieg Star, the two companies concluded their test of the blockchain-based B/L system in April.“Paper Bills of Lading are already considered a historic artefact. The Smart B/L solution gives both us and our clients the power of a modern, reliable, and efficient tool. It will bring cost optimization and improved data security into their processes.

Following the drawdown at the end of the Cold War, the Navy finds itself trying to build up again. The expansion of Russian and Chinese naval power has changed the calculus. While there will always be a debate about the final number of ships to build, we can all agree on one thing: the Navy must get bigger and the demand signal is to start building now,” said Chief of Naval Operations Adm. John Richardson, in testimony before Congress regarding the sea service’s 2019 budget request.

Danish shipping company Thorco Projects said that in less than two months after the establishment of its new dry cargo division,  it expands and adds more manpower to the team from its offices in both Houston and Rio de Janeiro. At the end of 2017, Thorco Projects announced its new division Thorco Projects Dry Cargo. With a wish to explore possible synergies between project and dry cargo, the company added to its line of core services and moved into the segment of 20-35,000 DWT. The newly-established division is off to a good start and expanding the team is already a necessity. “Thorco Projects Dry Cargo has been well-received by the market. Due to an ever-increasing activity, we are required to expand even further.

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hit a more than four-month low on Tuesday, as capesize rates dropped to their lowest since August last year. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, lost 43 points, or 3.4 percent, to 1,221 points, the lowest since Sept. The capesize index fell 221 points, or 9.91 percent, to 2,010 points, its lowest level since Aug. 10 last year.

The Operational and Maintenance departments of Antwerp Port Authority will shortly be merged to form a "Nautical & technical cluster." The new entity will have two floating dry docks at quay 602-612 for repairing its own fleet. This will put an end to the "fixed docks" on Dry Dock Island where the first facility was built in 1861. The new dry docks will be able to take vessels from 1500 to 1750 tonnes, with a width of up to 23 m and a draught of up to 7 m, and will be equipped with a crane with a lifting capacity of 10 tonnes. These floating structures will also be available to carry out repair and maintenance work for outside companies. The new dry docks look impressive, but the technology behind them is very simple.

Cochin Shipyard Ltd (CSL),  India's largest public sector shipyard, has filed  initial public offering (IPO)document with  the market regulator Securities and Exchange Board of India (SEBI)  to go public. The government approved a stake sale of up to 25 percent. Cochin Shipyard IPO will consist of 34 million shares to raise about INR 1,400-1,500 crore (USD 214 - 229 million). On completion of a successful IPO, CSL will become the first of five state-owned shipbuilding companies to be publicly listed. It has filed a draft red herring prospectus (DRHP) with SEBI. The company, which built India’s first indigenous aircraft carrier, the INS Vikrant, is looking to raise funds to set up new construction and repair facilities.