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DAEWOO SHIPYARD

RasGas LNG Fleet Grows

RasGas has expanded its LNG fleet with the recent launch of two vessels at Daewoo’s shipbuilding yard in South Korea, GulfTimes reports. With the addition of Al Marrouna and Al Areesh, RasGas’ LNG fleet strength will go up to 10. The two ships, owned by Teekay Nakilat Corporation, a consortium between Teekay Shipping and Nakilat, will have a cargo carrying capacity of 151,700m3 each. They will be on a long-term time charter with RasGas. Al Marrouna and Al Areesh will be the largest RasGas ships delivered to date. The ships will ferry LNG to the European and Far Eastern markets. Al Marrouna will be delivered to RasGas on October 31 followed by Al Areesh on January 2. Both ships will be operated by Teekay Shipping. Under the terms of the time charter agreements, RasGas will charter these vessels for a firm period of 20 years to deliver LNG from its existing and future facilities at Ras Laffan Industrial City (RLC) to its growing portfolio of customers around the world. Meanwhile, a formal ceremony was held at the Daewoo Shipyard to name the two vessels. source: Gulf Times


Fire-damaged MSC Flaminia Docks in Romania

MSC Flaminia: Photo courtesy of REEDEREI NSB

After six weeks of waiting at Constanza/Romania, MSC FLAMINIA has put into the port of Constanza; cause of fire still not ascertained. MV MSC Flaminia caught fire on 14 July 2012, claiming three lives (two confirmed dead and one missing) and forcing the crew to abandon ship in the middle of the Atlantic. After the fire had been brought under control, the stricken container ship was towed to Germany and in March 2013, she departed Wilhelmshaven for Mangalia, Romania for repairs.


Daewoo Wins $602m Deal

  Daewoo Shipbuilding & Marine Engineering Co., has won a deal worth $602mto build eight container ships, Korea Times said. The deal with a European shipping company entails Daewoo Shipbuilding to deliver the vessels by January 2011, the shipbuilder said in a regulatory filing. The shipyard has clinched deals valued at $1.9b to build 15 ships so far this year. Daewoo Shipbuilding aims at winning $17.5b worth of orders this year


Daewoo Wins Deals for Drill Ships

Daewoo Shipbuilding & Marine Engineering Co., has won deals worth $1.46b to build two drill ships. The deal with two American companies calls on Daewoo Shipbuilding & Marine Engineering to deliver the vessels by September, 2011, the shipbuilder said in a statement. Daewoo Shipbuilding said the deal includes an option to build another drill ship. With the contracts, the shipyard has won deals worth $4.1b to build offshore facilities such as platforms and rigs


Daewoo Employees to Have Role in Selecting New Owner

An association of Daewoo Shipbuilding & Marine Engineering Co. employees plans to team up with a potential buyer of their company, industry sources said Friday.  The group of employees, which owns a 0.46-percent stake in Daewoo Shipbuilding, is expected to have a say in selecting a preferred bidder for the shipyard, as the bidder which teams up with the association wins support from employees. Korea Development Bank (KDB) and a state-run asset management company are seeking to sell


Pension Fund Set to Scrap Plan to Bid for Daewoo

AFP reported that 's state pension fund is likely to scrap plans to bid for Daewoo Shipbuilding because of global financial turbulence. The National Pension Service the world's fifth largest, had been in talks with POSCO, GS Group and Hanwha Group to find a partner for the acquisition of Daewoo Shipbuilding. Hyundai Heavy Industries, the world's largest shipyard, is also interested in Daewoo Shipbuilding, the world's third biggest yard.


Daewoo Split: Painful But Necessary

The splitting of Daewoo Heavy Industries Co., the shipbuilding and machinery unit of South Korea's ailing Daewoo Group, into three firms should boost shareholder value, analysts said. A shareholders meeting earlier in the week approved a plan to split the company into Daewoo Shipbuilding and Marine Engineering Co., machinery maker Daewoo Heavy Industries and Machinery Ltd., with Daewoo Heavy Industries Co. taking the remaining operations


Daewoo Opens China Plant for Production

Daewoo Shipbuilding & Marine Engineering Co said it has begun producing blocks at a factory in Yentai, China, Forbes reported. After construction the blocks are transported to a shipbuilding dock, or slipway, where they are then assembled into place. The $100m facility will have initial production capacity for this year of 30,000 tons, which it plans to boost to 220,000 tons by 2010, Daewoo said. It has estimated that production costs at the factory are 30 percent less than at the firm's


Korean Shipbuilders DSME Establish Smart Shipyard

Daewoo Shipbuilding & Marine Engineering (DSME) use Tablet PC's, smartphones to speed up shipyard communications DSME has now established the fourth generation of cellular wireless standards (4G) in the shipyard with technology belonging to SK Telecom, and by this means DSME adopted its Long Term Evolution (LTE) wireless communication technology. In the project, DSME first rebuilt the shipyard’s communication infrastructure and Okpo shipyard’s 3G radio wave reception was


South Korean Yards Eyed for $3.8 Bln LNG Shipbuilding Deal

A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people with direct knowledge of the matter told Reuters.   CBI Energy and Chemical, which is controlled by Australian and Canadian investors and has offices in Hong Kong, also said in a statement to Reuters that it would be seeking to buy floating LNG production and import facilities


DSME CEO Questioned over Accounting Fraud

Photo by DSME Co.,Ltd

 The chief executive of struggling Korean shipbuilder Daewoo was questioned by state prosecutors on Tuesday over allegations that the yard tried to cover a major deficit in 2015 by underreporting losses.   According to a report in Yonhap, Jung Sung-leep, 66


Ex-Daewoo Shipyard Head Gets 10 Years in Prison

Ko Jae-ho: Photo cropped from a file photo provided by PR of Maersk Line taken during Triple-E naming ceremony

Ko Jae-ho, the former head of the ailing South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME), has been sentenced to 10 years in prison by a lower court in Seoul over accounting fraud, Yonhap News Agency reports.  


GTT Receives Order to Equip a New FSRU

GTT has received an order from Daewoo Shipbuilding & Marine Engineering (DSME) to equip a floating storage and regasification unit (FSRU) with its NO96 cryogenic membrane containment system.   The vessel will be built at DSME's shipyard in Geoje, Korea, on behalf of Maran Gas Maritime


US Tanker Liberty Sails for Sea Trials

Liberty (Photo: NASSCO)

U.S. shipbuilder General Dynamics NASSCO said it has sent the newly built Jones Act tanker Liberty to sea for testing and trials.   The 610-foot-long Liberty set sail for the first time on Monday, February 20 to undergo sea trials before delivery later this year.  


FORAN Expands User Base in Korea

Hansung Ship Eng. Power station (Photo: FORAN)

These are difficult times for the shipbuilding industry, in particular that of Korea, which faces its worst-ever order drought. Big, medium-sized and small shipbuilders are undergoing deep restructuring as a consequence of the workload downturn


Korea Rolls Out Indigenous Combat Operation System for Subs

File Photo: Daewoo Shipbuilding and Marine Engineering

 Daewoo Shipbuilding and Marine Engineering (DSME) has succeeded in producing the nation’s first integrated combat system, which serves as the brain of attack submarines.   The integrated combat system detects, tracks and identify targets and help accurately evaluate tactical and


DSME to Spin off IT Biz Unit

Photo: Daewoo Shipbuilding & Marine Engineering Co. (DSME)

 Daewoo Shipbuilding & Marine Engineering Co. (DSME) plans to spin off its IT business unit next year in an effort to streamline its business structure, reports Yonhap.   The unit, provisionally named DSME Information System, will be started on Jan. 1, the company said


Hyundai Near Deal With Iran for 10 Ships

Photo: Hyundai Heavy Industries Co

 Hyundai Heavy Industries Co. (HHI), a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships, says a report in Yonhap.   The contract, valued at USD650 million, will see Hyundai supply the Islamic Republic of Iran Shipping Lines, (IRISL) with four 14


Japan to Overtake Korea in Global Shipbuilding

Photo: DSME

 Japanese shipyards are on the verge of overtaking Korean shipyards in remaining order backlogs and market share, reports Business Korea.   South Korean and Japanese shipbuilders recorded a backlog of 20.46 million CGT and 20.06 million CGT early this month, respectively


NASSCO Christens New ECO Tanker

Photo: General Dynamics NASSCO

 On Saturday, December 17, General Dynamics NASSCO christened the Liberty, the third ECO Class tanker under contract with customer SEA-Vista LLC. Mrs. Debora Denning, wife of SEACOR vice president Tom Denning, christened the ship with the traditional break of a champagne bottle on the side of


Daewoo Shipbuilding Wins $590 million Greek Deal

Image: DSME

Daewoo Shipbuilding & Marine Engineering Co. (DSME) has bagged a combined 700 billion won (US$590 million) in potential orders from Maran Tankers Management, a unit of Angelicoussis Shipping Group, reported Yonhap.   Under the agreement with the Greece's largest shipper the troubled


Gloomy 2017 for Korea Shipyards

3D Image of Logistics Support Vessel HHI to Build Under New Zealand Defence Force’s MSC Project. Photo: Hyundai Heavy Industries

 South Korea‘s three majors shipbuilders are forecast to get much fewer orders next year, Yonhap reports quoting industry sources.   The three shipyards - Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) - are


Daewoo to Develop Iranian Shipyard

Image: Industrial Development and Renovation Organization of Iran

 South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME) and the Industrial Development and Renovation Organization of Iran (IDRO) have signed an outline agreement to cooperate on developing the shipbuilding Industry in Iran.  


Samsung Wins $1.26bln Contract from BP

Photo: Samsung Heavy Industries

 Samsung Heavy Industries, South Korea's major shipyard, build a floating production unit for British oil multinational BP that will be used in offshore drilling in the Gulf of Mexico, says a report in Yonhap.   The 1.5 trillion won ($1


Maersk Invincible Delivered

Photo Maersk

Maersk Drilling has taken delivery of its fourth XLE jack-up rig, the Maersk Invincible, from Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea. Maersk Invincible will now mobilise to the North Sea and will in the second quarter of 2017 commence a five year firm contract with Aker






 
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