HALLA ENGINEERING & HEAVY INDUSTRIES
The European Union's executive body proposed starting a World Trade Organisation (WTO) dispute against South Korea over alleged subsidies to its shipyards unless a deal could be reached by June 30. At the same time, the European Commission said it would propose allowing temporary government aid for European shipyards hit by South Korean competition for the duration of the WTO case. Both proposals will be discussed by EU industry ministers who meet on May 14 and 15. "Although we have not closed the door to an amicable solution with the Korean authorities, the clock is now ticking," EU Trade Commissioner Pascal Lamy said. The Commission said its own five-month probe of South Korean shipbuilding had established that substantial subsidies had been granted to South Korean shipyards which it alleged contravened the WTO's 1994 Subsidies Agreement. "On this basis, the Commission will recommend that the matter be taken before the WTO through the initiation of a dispute settlement procedure by 30 June unless an amicable solution can be reached in the interim period," it said. General European government aid to shipyards was banned at the end of last year. Under the "temporary support mechanism" proposed by the Commission, state aid of up to 14 percent would be allowed for building the types of ships where European shipyards had been hard hit by the alleged unfair practices by South Korea, the world's biggest shipbuilder. These are container ships and product and chemical tankers
Korean shipbuilders occupied seven out of the top 10 positions in the world last month in terms of orders. Hyundai Heavy Industries was the world’s largest shipyard in terms of order backlog as of late June with 11.74 million compensated gross tons (CGT), British shipbuilding market researcher Clarkson reported. Samsung Heavy Industries came second with an order backlog of 8.27 million CGTs, followed by Daewoo Shipbuilding & Marine Engineering (DSME) with 7
As the world has been beset by a wave of bad financial news -- from the looming financial crisis and credit crunch to the rapidly escalating cost of industrial materials, particularly steel -- Clarkson via its weekly Clarkson Index delivered some good news for a change, as the index, which is a measure of prices for all types of vessels, rose for the first time in more than three months. According to a Bloomberg report
Reports indicate that South Korea's shipbuilders ranked No. 1 through No. 7 worldwide in terms of order backlogs for the first time ever as of the end of February, a London-based market researcher said Monday. Seven domestic shipyards' order backlogs accounted for 35 percent of the global industry's total of 107.34 million compensated gross tons (CGT), Clarkson Plc. said. Hyundai Heavy Industries ranked No. 1 worldwide with an order backlog of 10.82 million CGT, it said.
Daewoo Heavy Industries Co. shareholders approved a plan to split the firm into three companies, officials said. The plan will go into effect May 1. Under the plan, the company will split into shipbuilding firm Daewoo Shipbuilding and Marine Engineering Co., machinery maker Daewoo Heavy Industries and Machinery Ltd. and Daewoo Heavy Industries Co. for the remaining operations. Daewoo Heavy is among the 12 Daewoo Group firms put under a creditors-led debt restructuring program in late August
South Korean shipyards ranked No. 1 through No. 7 in terms of order backlogs as of the end of April, the Korea Times recently reported. Hyundai Heavy Industries, retained its spot with an order backlog of 11.44 million compensated gross tons (CGT). Samsung Heavy Industries overtook its rival Daewoo Shipbuilding & Marine Engineering Co. with an order backlog of 8.34 million CGTs. Daewoo Shipbuilding was the third-largest shipyard with an order backlog of 7.63 million CGTs
Hyundai Heavy Industries Co. plans to bid for a $3.1b controlling stake in Daewoo Shipbuilding & Marine Engineering Co. reports said. A preliminary offer will be submitted Wednesday. The preferred bidder will be announced in September and the sale will be completed by the end of October, according to the policy lender. Hyundai Heavy will compete with Posco, GS Group and Hanwha Group for the 50.4 percent holding being sold by state-run Korea Development Bank and Korea Asset Management Corp
According to Korea Times, South Korean shipbuilders’ demand for steel plates is expected to continue to rise next year due to an increase in orders, an industry body said Monday. The Korea Shipbuilders’ Association forecast the industry’s demand for steel plates will reach 5.4 million tons next year, up 300,000 tons from this year. Industry sources predict the demand for steel plates is likely to amount to 6 million tons by 2008, a steady increase from 4.6 million tons in 2004
Virginia Beach, Va. - Huntington Ingalls Industries announced that its subsidiary, AMSEC, has signed an agreement with Hanjin Heavy Industries and Construction Philippines Inc., a subsidiary of HHIC Holdings Co. Ltd., to work together in providing maintenance, repair and logistics services to the U.S. Navy and other customers in the western Pacific region. The agreement with HHIC-PHIL allows AMSEC to benefit from Hanjin's state-of-the art shipyard at Subic Bay, Philippines
The Finnish private-owned company Delta-Sigma Ltd (owner of Deltamarin Ltd and Deltamarin Contracting Ltd) and the Chinese state-owned company Shandong New Shipbuilding Heavy Industries Co., Ltd have established a joint venture company to provide technical and engineering services to Chinese shipbuilding and marine industry market. The new company is called Shandong Deltamarin Ship Design Co., Ltd, and its office is located in Weihai City, Shandong Province
Offshore contractor Subsea 7 has been awarded a $150 million subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the development of the Culzean field in the UK North Sea. The ultra-high pressure, high temperature field
Huntington Ingalls Industries Inc, which builds aircraft carriers and U.S. Navy warships, on Tuesday said it was keen to bid to build new icebreakers for the U.S. Coast Guard, after President Barack Obama pushed for quicker work on the program.
President Barack Obama on Tuesday proposed a faster timetable for buying a new heavy icebreaker for the U.S. Arctic, where quickly melting sea ice has spurred more maritime traffic and the United States has fallen far behind Russian resources.
The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel was ordered by GE Shipping in July 2013 and has been built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines.
Calnetix Technologies, LLC has published a White Paper describing new processes for producing supplemental power for a ship’s electrical load. The White Paper, entitled New-Technology Shipboard System Converts Heat from Engine Jacket Water into Electrical Power
Louisiana-based shipbuilder Bollinger Shipyards, LLC announced its vice president for quality management system, Dennis Fanguy, will receive the 2015 William M. Kennedy from the Society of Naval Architects & Marine Engineers (SNAME).
ME Production subsidiary Marine Exhaust Technology has been awarded a new contract for the DFDS vessel Finlandia sailing on the route Rosyth-Zeebrugge. The scrubber contract includes design, engineering, manufacturing, and installation.
Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Hitachi Zosen Corporation for a high-pressure gas supply system enabling use of natural gas as fuel in marine engines. In lieu of conventional heavy oil, the system supplies liquefied natural gas (LNG)
All set to expand its footprint in the South Asian market significantly, Hamburg based, United Heavy Lift (UHL) appointed strategically placed Lexicon Overseas Pvt Ltd. as their General Agents in India, to help ramp up their operations from Mumbai
Japanese delegation tries to make case for submarine contract. Japan's effort to charm Australian politicians and the public over its bid for a A$50 billion ($35.60 billion) submarine project appeared to stumble on Wednesday, with officials from Tokyo resisting pressure to commit to building
Hindustan Shipyard Ltd., the largest shipbuilding enterprise under Indian Ministry of Defence, and world’s premier shipbuilder Hyundai Heavy Industries (HHI) are likely to undertake joint construction of self-propelled fleet support ships (FSS) for the Indian Navy
HANSA HEAVY LIFT has been recognized with a DNV GL Excellence - Five Stars Award for the high quality of its management systems. The heavy lift and project shipping company, which is one of only nine lines to be recognized in this way, was presented with the certificate by DNV GL at a ceremony
TTS Group ASA has through its subsidiary TTS Marine AB in Gothenburg, Sweden entered into a new contract for delivery of cargo access equipment to two pure car/truck carriers (PCTC). The total order value for the two ship-sets is approx. NOK 40 million (approx. USD 4.9 million).
Dorian LPG Ltd. a leading owner and operator of modern Very Large Gas Carriers ("VLGCs"), reported today that it took delivery of the ECO VLGC Constitution from Hyundai Samho Heavy Industries. Constitution, Dorian LPG's eighth newbuilding delivery
A shiploader weighing more than 560 metric tons has made the voyage from Nantong, China to Portland, Ore. in the U.S. with the help of transporter HANSA HEAVY LIFT GmbH (HHL). The shiploader, which measures 36.5 meters in length x 56.44 in width x 31