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HALLA ENGINEERING & HEAVY INDUSTRIES

EU to S. Korea: Agreement on Subisdies Soon Or Else

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 Place in Top 10 for June Orders

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


Ship Values Rise

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


Samsung Companies Consider Merger Again

Image: Samsung Engineering

 South Korean shipbuilder Samsung Heavy Industries Co will try again to merge with sister company Samsung Engineering Co Ltd later this year, reports Korea Times.   Samsung Engineering CEO Park Jung-heum has said he will once again pursue a merger talk.   "Before pushing for the deal, we need understanding from the financial markets, which we believe is a key condition," he told local reporters.  


Massive Layoff Ahead for Hyundai Heavy

Photo: Hyundai Heavy Industries Co., Ltd. (HHI)

 Another massive reduction in the Korean shipbuilding workforce may come as most shipyards are still struggling with falling orders and mounting losses, reports Yonhap quoting industry sources.   Hyundai Heavy Industries plans for large layoffs amid a prolonged recession in the global shipbuilding sector and the government’s move to restructure the ailing industry.    Over the past few weeks, the troubled world’s No


Run aground, S. Korea's Shipbuilders Awaits Miracles

Photo: Daewoo Shipbuilding & Marine Engineering

 The 'Big Three'—Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries—hold $42.1 billion in loans between them. The firms closed out 2015 with combined losses of more than $6 billion, their earnings reports revealed.   According to a report in BusinessKorea, the top three failed to clinch any contract whereas Hyundai Mipo Dockyard signed those for two chemical product carriers of 40


Bleeding Continues for Korean Shipbuilders

Photo: Hyundai Heavy Industries

 South Korea's big three shipbuilders are set to post over 8 trillion won (US$6.66 billion) in operating losses in 2015 because the industry has not found a way out of a prolonged slump, reports Yonhap.   According to the industry data, the top three shipyards - Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. - are stung by a combination of a prolonged industry slump


Report: Korean Shipbuilders Dominate Global Orders

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 Approves Split Plan

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


Korean Shipyards Rank 1-7th in Order Backlogs

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


DNV GL Seeks to Standardize Floating Turbines

Image: DNV GL

 DNV GL launched a new joint industry project (JIP) together with thirteen global partners to mutually develop a Recommended Practice for the coupled analysis of floating offshore wind turbines.  Despite the fact that the wind industry has a strong focus on the development of floating


Hyundai to Build ITER Vacuum Vessel

Cross-sectional view of ITER. Image: Hyundai Heavy Industries (HHI)

 Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and a leading industrial plant EPC contractor,won $101.6 million worth of order to supply two vacuum vessel sectors (No.7, 8) for ITER (International Thermonuclear Experimental Reactor).   


South Korea Mulls LNG Bunkering Hub

Image: SSPA Sweden AB

 A group of South Korean companies including shipbuilders have come together to establish an association dedicated to developing liquefied natural gas (LNG) bunkering facilities and infrastructures including LNG-fueled vessels, says a report in the Pulse.  


Roll-Lift Appoints New Agent

Courtesy Roll-Lift

Roll-Lift, the Heavy Lift Transportation Specialist based in The Netherlands has appointed Mr. Miguel Flórez de la Colina as their sole representative for clients based in Spain, Portugal and France for projects undertaken outside Europe.


Hyundai Heavy Affiliate Aims to Sell Stake in Brokerage Unit

South Korean shipbuilder Hyundai Heavy Industries said on Wednesday that its affiliate aims to sell its brokerage unit Hi Investment & Securities by the end of this year.   The affiliate, Hyundai Mipo Dockyard, holds an 85 percent stake in Hi Investment & Securities.  


Award for Japan's First LNG-fueled Tugboat

Photo: NYK Line

 NYK Line received award sponsored by the Japan Federation of Freight Industries (JFFI) recognizing the environmental load reduction achieved by Japan's first LNG-fueled tugboat, Sakigake.   This is the third time since 2009 that NYK has been honored at this annual awards ceremony.


First Shipload of LNG Arrives at Skangas Terminal Finland

First shipload of liquefied natural gas to Finland arrived at Skangas LNG import terminal in Pori. Photo Gasum Oy

Sunday July 10th 2016 the first shipload of liquefied natural gas (LNG) arrived at the Gasum’s subsidiary Skangas LNG terminal in Pori. To be completed in August, the facility is the first LNG import terminal in Finland. LNG was brought with the time chartered Skangas Coral Energy carrier


Fire at Prelude LNG Construction Site in South Korea

Happier Times: In May 2013 the price per barrel of oil was more than $100 and Shell ha laid the keel for Prelude FLNG, the world’s first floating liquefied natural gas (FLNG) project. (Courtesy of  Royal Dutch Shell)

Shell said a small fire occurred at the construction site in South Korea for its huge floating Prelude liquefied natural gas (LNG) project, with work resuming immediately and an investigation underway.   The incident would not have an impact on the delivery schedule


DNV GL, South Korean Yards Kicks off Standardization

Photo: DNV GL

 The first phase of a joint industry project (JIP) to promote a global standard for engineering and construction of offshore oil and gas installations has delivered four recommended practices (RPs).    The outcome of the JIP, led by DNV GL, will be reduced complexity


Partners Spur Smart Shipping Software Development

The world’s largest shipbuilder has launched an initiative with several industry partners that aims to help small and medium-sized ICT companies develop software for smart shipping, a so-called Eco System for Smart Ships.   Under the Memorandum of Understanding


Shipbuilding: Korea Losing Race with China

Photo: Samsung Heavy Industries

 The Korean shipbuilding industry has plunged into a deep crisis as the big three —Daewoo, Hyundai Heavy, and Samsung Heavy—posted record combined losses in 2015, and 2016 looks no better.   Added to the woes, Korean shipbuilders’ orders in the first half of this year


Dassault Systèmes’ 3DEXPERIENCE Platform Extends Interoperability on Large Assets

courtesy Dassault Systèmes

Dassault Systèmes (Euronext Paris: #13065, DSY.PA), the 3DEXPERIENCE Company, world leader in 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions, today announced that the 3DEXPERIENCE platform now extends the support of XMpLant with an integrated


Construction Begins on Johan Sverdrup Riser platform

offshore project, have more than 2500 square metres of free deck space,  Photo Statoil

The riser platform construction start was marked today at the Samsung Heavy Industries yard in South Korea. Project director for Johan Sverdrup Kjetel Digre (from right), project manager for the riser platform and the processing platform Ståle Nordal and head of Samsung Heavy


VLCC Delivered to Gener8 Maritime

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, has taken delivery of the ECO VLCC the Gener8 Constantine on June 27, 2016 from Hyundai Samho Heavy Industries Co. Ltd.   The Gener8 Constantine represents the 11th of 21 ECO VLCCs


JIP Validates DNV GL's Helica Software

The Helica software module in Sesam includes technology that represents industry consensus for cross section analysis of umbilicals and flexible risers, including fatigue analysis of section components such as helix wires and steel tubes. Using Helica, subsea engineers can reduce the analysis time to a fraction, as thousands of simulations may be performed in minutes. Photo DNV GL

A joint industry project run by DNV GL has replicated stresses measured in an umbilical subjected to tension and bending in full-scale tests, further validating the accuracy of the analysis software Helica. DNV GL’s Helica can analyse thousands of simulations in a matter of minutes






 
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