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DAEWOO SHIPBUILDING & MARINE ENGINEERING LTD

Daewoo wins $430m Contract to Build Drill Ship

Daewoo Shipbuilding Marine & Engineering Co., won a $430m order to build an offshore drill ship. The deal from Odfjell Invest Ltd. calls for Daewoo Shipbuilding to deliver the semi-submersible ship by June, 2010, the company said. Daewoo Shipbuilding said that the deal includes an option to build another drill ship. The company won a total of $4.3 billion worth of orders in 2006 to build offshore facilities such as platforms and rigs. For the year, Daewoo Shipbuilding expects more than $3 billion in orders to build such facilities. So far this year, Daewoo Shipbuilding has won $1.65 billion worth of orders to build ships and offshore facilities, about 15 percent of this year's target of $11 billion. Source: Yonhap


Aker Kvaerner Awarded Drilling Equipment Contract

Aker Kvaerner has been awarded a contract with Daewoo Shipbuilding & Marine Engineering Co Ltd in South Korea for delivery of drilling facilities for an ultra deepwater semi submersible drilling rig ordered by an international drilling contractor. The total contract value for Aker Kvaerner is approximately USD 86 million. The award is based on an option included in a contract Aker Kvaerner signed with Daewoo Shipbuilding & Marine Engineering Co. Ltd in February 2006


Aker Kvaerner to Deliver Mooring Equipment to Daewoo

Aker Kvaerner has been awarded a contract with Daewoo Shipbuilding & Marine Engineering Co. Ltd in South Korea for delivery of mooring equipment. The total contract value for Aker Kvaerner is approximately NOK 60 million. The contract involves supply of mooring equipment for two semi-submersible drilling rigs to be built at Daewoo Shipbuilding & Marine Engineering Co. Ltd for the Norwegian rig owner SeaDrill. Four sets of double mooring winches and eigth underwater fairleads will be


Aker Kvaerner Awarded Contract with Daewoo

Aker Kvaerner has been awarded a contract with Daewoo Shipbuilding & Marine Engineering Co Ltd in South Korea for delivery of drilling facilities for an ultra deepwater semi submersible drilling rig ordered by an international drilling contractor. The total contract value for Aker Kvaerner is approximately $86m. The award is based on an option included in a contract Aker Kvaerner signed with Daewoo Shipbuilding & Marine Engineering Co. Ltd in February 2006


Daewoo Shipbuilding Wins 606-bln Deal

According to Asia Pulse Data Source, Daewoo Shipbuilding & Marine Engineering Co., has won a deal valued at 606 billion won (US$647 million) to build a drill ship. The deal calls on Daewoo Shipbuilding to deliver the vessel by July 2011, the company said in a regulatory filing, without identifying the customer. Daewoo Shipbuilding has won more than $22 billion worth of contracts so far this year to build 136 vessels.


Daewoo Shipbuilding Opens N American Plant

According to a report from Steel Guru, Korea based Daewoo Shipbuilding & Marine Engineering and the Premier of Nova Scotia, Canada, celebrated the grand opening of DSME Trenton Ltd on June 14th 2011.   Source: Steel Guru  


Goldman Sachs Reported Out of Daewoo Sale

Goldman Sachs Group Inc. is out as co-adviser of the sale of Daewoo Shipbuilding & Marine Engineering Co., according to a report on Bloomberg. According to the Bloomberg report, Korea Development Bank reversed its earlier decision to have Goldman be a preferred bidder as co-adviser of the sale of a 50.4 percent stake in Daewoo Shipbuilding, as the bank and Goldman apparently failed to reach an agreement on terms of the contract


Posco Seeks Partner for Bid

Doosan Group pulled out of the bidding for Daewoo Shipbuilding, driving down shares of one of the world's biggest shipyards.  South Korean steel maker Posco was reportedly seeking partners to bid for Daewoo Shipbuilding & Marine Engineering in a deal that would value the shipbuilder at as much as $9.6b.  Shares in Doosan Group companies rose after it said it would not bid for Daewoo, easing concerns over the financial health of the conglomerate


Hyundai, 2 Affiliates Go for Daewoo

Hyundai Heavy Industries said it will make an independent bid together with its two affiliates for a controlling stake in Daewoo Shipbuilding & Marine Engineering (DSME), according to Korea Times. The remarks come after SK Energy said it is considering joining a consortium led by POSCO. Industry experts say SK Energy will join the POSCO-led consortium and plans to invest less than about $90m, a token amount for the size of Daewoo Shipbuilding.


Hanwha Asked to Resubmit Plans for Daewoo

According to a Jan. 13 report from Reuters, Korea Development Bank, in talks to sell Daewoo Shipbuilding to Hanwha Group, asked Hanwha to rework its financing plan amid speculation the estimated $5b sale could fall apart. State-run KDB, a top shareholder in Daewoo Shipbuilding & Marine Engineering, also said it would decide whether the deal could go through based on the new funding plans from Hanwha. (Source: Reuters)


World's Biggest Container Ship, the MSC Oscar, at Port of Felixstowe

MSC Oscar at Felixstowe (Photo credit: Port of Felixstowe)

 World's biggest container ship, the 19,224 TEU MSC Oscar, has made its maiden call at the Port of Felixstowe, the Port of Britain.   Clemence Cheng, chief executive of Port of Felixstowe, said it was a "very happy day" for the port.   


GTT Receives Order for MOL LNGC

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), has received a new order for one Liquefied Natural Gas Carrier (LNGC).   The new ship for Mitsui OSK Lines (MOL) will be built by the


Scorpio Tankers Secures Loan Duo

Scorpio Tankers Inc. received commitments for two new loan facilities

  Scorpio Tankers Inc. announced today that it has received commitments from two leading European financial institutions for two separate loan facilities of up to $113.2 million in aggregate to partially finance the purchase of four LR2 product tankers that was announced in December 2014.


GTT Bags Order for DSME-built LNGC

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), has received an order for one liquefied natural gas carrier (LNGC).   The ship will be built by the South Korean shipbuilder Daewoo


Daewoo Shipbuilding Bags Order for LNG Carrier

Image: Daewoo Shipbuilding & Marine Engineering

Daewoo Shipbuilding & Marine Engineering, the world’s second-largest shipbuilder, signed a $100 million contract to build an LNG carrier. It has now signed five deals this year, worth about $1 billion in total. The company declined to reveal the name of its partner.


GTT Bags Order for 6 New LNGCs

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has placed an order with Gaztransport & Technigaz (GTT), designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG)


Steel Cutting Ceremony for Otto Offshore Newbuild

Colourful ceremony to celebrate the start-up of the shipbuilding project for Otto Offshore.

  On Friday 6 February 2015, Wuchang Shipbuilding Industry Co., Ltd., China, held a steel cutting ceremony for the first of four platform supply vessels of ULSTEIN’s PX121 design being built for Otto Offshore Limited. The shipbuilding contracts at Wuchang were announced in August


Daewoo to Build LNG carrier for Mitsui O.S.K

Image: South Koreas Daewoo Shipbuilding

 The Japanese shipping company Mitsui O.S.K. Lines will invest up to 50 billion yen ($412 million) to build two liquefied natural gas (LNG) carriers, reports Nikkei.  Construction of the ships will be contracted to South Korea's Daewoo Shipbuilding & Marine Engineering (DSME)


MOL JV Ink Deal for 2 LNG Vessels

  Mitsui O.S.K. Lines, Ltd.  announced today that through a joint venture ship-owning company with Itochu Corporation charter agreements have been signed with E.ON Global Commodities SE, a wholly owned subsidiary of E.ON SE. The joint venture also signed a deal with Daewoo Shipbuilding


Korea to Build World's Largest Marine Engineering Aquarium

Research center for Maritime Engineering Research (image courtesy of Busan Metropolitan City)

 The Korean Government is to develop the largest maritime engineering aquarium in the world for deep-sea research purposes, such as simulation experiments for the construction of maritime plants.  The joint investment of public and private sector plans to build the marine engineering


MSC Reports Better Fuel Efficiency with Jotun's HPS

MSC Oscar (Photo courtesy of MSC)

Jotun Marine Coatings said Mediterranean Shipping Company (MSC) will apply Jotun’s Hull Performance Solutions (HPS) on a number of new and existing vessels.   With almost 500 vessels, MSC has one of the world’s largest containership fleets


Gail Scraps $7-billion LNG Ship Tender

Image: GAIL (India) Limited.

 Gail India Ltd has scrapped a tender that would have led to the construction of three massive liquefied natural gas (LNG) carriers at Indian shipyards.     After postponing tender deadline thrice and also one year later, state-owned gas utility GAIL India Ltd has not found any


Petronas, HHI Novation Agreement with MISC

LNG Ship Puteri Firus (Image by MISC Bhd )

 Malaysia’s MISC Bhd and parent Petroliam Nasional Bhd (Petronas) have agreed to build new liquefied natural gas (LNG) carriers worth US$1.1 billion and charter them to another unit owned by the national oil and gas company for up to 20 years.   


Are Megaships Game Changers?

Image: A.P. Moeller-Maersk Triple-E

 Bragging rights for the world’s largest container ship have changed hands four times in as many months and keep on shifting again, says a report in the Bloomberg.   The megaships have come to dominate container shipping with astonishing rapidity over the past decade


Keel of First Eco Tanker for APT laid

Mrs. Katherine Faulconer, wife of Mayor Kevin Faulconer and First Lady of San Diego, welds her initials onto a steel plate that will be permanently affixed to the APT-1’s keel. Click on the image for hi res version.

  On Saturday, March 7, General Dynamics NASSCO hosted a keel laying ceremony for the first ECO tanker for American Petroleum Tankers (APT) under construction at the company's shipyard in San Diego. San Diego's First Lady, Mrs. Katherine Faulconer, was the honoree for the ceremony.






 
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