Performance Shipping Inc. Signs Shipbuilding Contracts for the Construction of Two Newbuilding Suezmax Tankers

Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that, through two separate wholly-owned subsidiaries, it has signed two shipbuilding contracts with China Shipbuilding Trading Co. Ltd. (“CSTC”) and Shanghai Waigaoqiao Shipbuilding Co. Ltd. (“SWS”) for the construction of two 158,000 DWT newbuilding Suezmax tanker vessels.

The vessels are expected to be delivered in October 2028 and May 2029, respectively, at a contract price of US$81.5 million per vessel. 15% of the purchase price is payable upon receipt of a refund guarantee; 10% of the purchase price is payable at each of the milestones of steel cutting, keel laying, and launching of the vessels; and the remaining 55% of the purchase price is payable upon the delivery of the vessels.

Commenting on the contracts, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated:

“The signing of these two Suezmax newbuilding contracts expands our presence in a segment with constructive medium- and long-term market fundamentals. Our fleet is primarily comprised of Aframax/LR2 vessels, and with two Suezmax tankers currently on the water, this transaction is poised to double our exposure to the segment, reflecting our disciplined capital allocation approach and confidence in the Suezmax market.

Get More Info : Dredger Jobs

Website : https://seajob.net/

Contact Us : Maritime Crew

Robotization Wave Hits Shipyards

Major domestic shipbuilders are actively pursuing robot adoption. HD Hyundai, in particular, is utilizing more than 200 robots for welding, steel plate cutting, and other operations. The company has determined that robots are necessary to manufacture and deliver on time the four years’ worth of work secured through consecutive orders. As the growing number of robots raises worker anxiety, shipbuilders plan to continue discussions on employment stability through communication with labor unions.

According to industry sources on Feb. 24, as of early this month, HD Hyundai’s shipbuilding affiliates have installed a total of 211 robots (industrial and collaborative robots) at shipbuilding sites. This represents a 63.6% increase compared to the same period last year (129 units). By affiliate, HD Hyundai Heavy Industries increased its robot deployment from 73 to 131 units. HD Hyundai Samho installed 80 robots, a 42.9% increase from the same period last year (56 units).

The reason HD Hyundai is actively adopting robots is that work is overflowing. As a result of consistently securing orders since 2022, when the COVID-19 spread subsided, HD Hyundai currently holds three to four years’ worth of work. HD Korea Shipbuilding & Offshore Engineering, HD Hyundai’s shipbuilding intermediate holding company, secured an order backlog of $63.672 billion as of the end of last year.

Get More Info : Dredger Jobs

Website : https://seajob.net/

Contact Us : Crewing Assistance

Maritime Action Plan Highlights Washington’s Misplaced Shipbuilding Obsession

On the eve of President’s Day weekend, the Trump administration released its long-awaited Maritime Action Plan (MAP), billed as a sweeping blueprint for reversing decades of US maritime decline. One of its core goals: resuscitating a commercial shipbuilding industry that has fallen into a near-total collapse.

To that end, the plan calls for a broad mix of subsidies, new fees, and mandates designed to coerce demand toward US shipyards.

Such logic is neither new nor uncontested. In a recent essay published by the Center for International Maritime Security, I examined similarly motivated legislative proposals now circulating in Washington and argued that they would impose substantial costs while failing to address the maritime challenges that actually matter. Many of those critiques apply equally to the MAP.

A Chasm of Competitiveness

The MAP declares that its objective is not merely to increase the number of ships built in the United States but to reconstitute an industrial base capable of “competitive international performance.” It further emphasizes the importance of constructing large, oceangoing commercial ships—the workhorses of global trade—rather than small craft or niche vessels.

It’s a vision sharply at odds with economic reality.

US shipyards charge roughly five times prevailing global prices for large commercial ships. As a result, few are built. Only three large oceangoing cargo ships have been delivered by US yards so far this decade (all for the protected domestic market where foreign-built vessels are prohibited by the Jones Act). Closing the chasm of competitiveness with leading international shipyards to spark domestic production would require not incremental improvement but a transformation of costs, productivity, and industrial organization on a scale not seen in modern US shipbuilding history.

Get More Info : Cruise Ship Jobs

Website ; https://seajob.net/

Contact Us : Merchant Marine Jobs

LNG discounts to LSMGO widen in major ports

Rotterdam B100’s discounts to pure HSFO, VLSFO and LSMGO have narrowed by $18-36/mt over the past week. It’s discounts to LNG has also narrowed by $68–75/mt, bringing the spread to $106-325/mt, depending on engine type and methane slip profile.

In contrast, B100’s premiums over liquefied biomethane (LBM) in Rotterdam have widened by $66–73/mt to $168–394/mt.

In Singapore, B30-VLSFO (UCOME) has flipped back to an $11/mt discount to pure VLSFO after briefly moving to a $3/mt premium last week. B100’s premium over pure VLSFO has edged $4/mt higher to $461/mt.

Liquid fuels

Conventional fuel grades in Rotterdam have declined by $18–36/mt, while B30-VLSFO has fallen by a smaller $14/mt over the past week.

The port’s B100 benchmark has remained unchanged, as a €5/mtCO2e drop in Dutch ZRE A tickets has failed to exert upward pressure on price.

VLSFO and LSMGO availability has remained tight for prompt delivery in the ARA region, with buyers advising lead times of 5-7 days, a trader told ENGINE. HSFO has been more readily available, with notice periods of 2-4 days, the trader added.

Singapore’s HSFO and VLSFO prices have slipped by $3–5/mt, while its pure LSMGO has fallen by $13/mt. The port’s B100 price has remained broadly steady with a modest $2/mt decline, while B30-VLSFO (UCOME) has dropped by a sharper $19/mt.

Get More Info : Crewing Assistance

Website : https://seajob.net/

Contact Us : Merchant Marine Jobs

China’s LNG orders tighten slots, boost Korea’s pricing power and U.S. push

As China’s shipbuilding industry has aggressively increased orders for liquefied natural gas (LNG) carriers since the start of the year, some analysts say the move is paradoxically serving as a lever that boosts Korean shipbuilders’ bargaining power on prices. As China’s major shipyards chew through large volumes of low-priced orders and exhaust construction slots for delivery even after 2029, the reasoning goes, Korea will enjoy a dominant position for upcoming orders of high value-added vessels.

According to the shipbuilding industry and the financial investment sector on the 13th, the three Korean shipbuilders—Samsung Heavy Industries, HD Korea Shipbuilding & Offshore Engineering, and Hanwha Ocean—dismissed concerns about a China-led supply glut during their recent earnings conference calls, instead interpreting it as an opportunity to raise vessel prices and improve profitability.

China’s Hudong-Zhonghua Shipbuilding and Jiangnan Shipyard each won orders for four LNG carriers last month from shipping company TMS Cardiff Gas and Shell, respectively. As Chinese yards kicked off an order-winning relay early in the year, touting price competitiveness about 10% cheaper than Korea, some in the industry voiced concerns that the LNG carrier stronghold where Korea excels could be eroded, pushing down prices and worsening profitability.

According to Clarksons Research, the ship new building price for a 174,000-cubic-meter LNG carrier peaked at $265 million in Feb. last year before turning downward, and has stayed at around $248 million for four consecutive months recently, showing a weak trend.

Get More Info : Marine Jobs

Website : https://seajob.net/

Contact Us : Marex sea job

Elcome Expands Global Maritime Connectivity Leadership With Amazon LEO Agreement

ELCOME, a global provider of maritime technology and satellite communication solutions, announced today that it has signed an authorised reseller agreement with Amazon Leo (formerly Project Kuiper) to offer satellite-based connectivity to the commercial maritime sector.

Under this agreement, ELCOME will offer Amazon Leo to fleets operating across all major oceans, supporting merchant shipping, offshore service vessels commercial fishing, and yachting.

Building on ELCOME’s existing fleet connectivity footprint across more than 5,000 vessels, the addition of Amazon Leo Pro and Leo Ultra terminals will provide operators with an independent low Earth orbit connectivity path that improves availability and network diversity at sea.

Customers will see increased resilience, optimized application performance, and accelerated modern digital operations onboard and between ship and shore.

Amazon Leo is building one of the most advanced satellite communications systems in the world. Powered by a constellation of thousands of satellites in low Earth orbit, the system will provide lower latency and higher transmission capacity than traditional geostationary satellite solutions, enabling real-time applications, telemetry, remote operations, and hybrid network architectures.

“This agreement advances our mission to deliver global, scalable, and future-ready connectivity to the maritime industry,” said Jimmy Grewal, Managing Director of ELCOME.

Get More Info : Merchant Marine Jobs

Website ; https://seajob.net/

Contact Us : Marine Recruitment India

Lamborghini Runs Amok in Kanpur Market, Hits Vehicles, Injures Pedestrian; FIR Filed Against Tycoon’s Son

KANPUR: Chaos erupted in a busy market area of Kanpur on Sunday after a high-speed Lamborghini rammed into multiple vehicles and injured a pedestrian in the Gwal Toli police station limits.

According to police, the luxury car first struck an autorickshaw before veering out of control and crashing into a parked motorcycle. The incident caused panic among shopkeepers and pedestrians, leaving several vehicles damaged and at least one person injured.

The police have seized the car and registered an FIR. Officials said the Lamborghini is registered in the name of tobacco businessman K.K. Mishra and was being driven by his son, Shivam Kumar Mishra (45), at the time of the accident.

Preliminary investigations indicate that the Delhi-registered vehicle was being driven at an excessive speed when it hit the autorickshaw. After the initial collision, the car reportedly accelerated further, lost control near a turn, and slammed into a motorcycle belonging to Arya Nagar resident Vishal Tripathi, who was standing nearby.

During the commotion, a pedestrian identified as Taufiq, a resident of Chaman Ganj Ghosiyana, sustained injuries while trying to flee the speeding vehicle. He was reportedly on his way to Karbala when the accident occurred and was later sent for medical examination.

Get More Info : All Types Of Marine Crew

Website : https://seajob.net/

Contact Us : Crewing Assistance