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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


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


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


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.


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


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


Shipbuilders to Demand More Steel Plates

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


Hyundai to Make a Bid for Daewoo

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


Hyundai Heavy $600M Order for LNG Carriers

* Photo: Abdelkader, LNG Carrier Hyundai Heavy built and selected as one of the world’s best ships in 2010.

Hyundai Heavy Industries, the world’s largest shipbuilder, won a $600 million order to build two 155,000 m3 LNG carriers, including an option for another same class vessel, from Greece-based Dynagas Ltd. These membrane-type LNG carriers are due for delivery in the second half of 2013. They will feature the Dual Fuel Diesel Engine System which allows the ship to run on oil fuel or natural gas. Due to tightening global regulations on carbon emissions


Huntington Ingalls Subsidiary Partners With HHIC Holdings

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


GTT Seeks to Industrialize its Mark V Tech

Gaztransport & Technigaz (GTT) informs it has signed a cooperation agreement with the South Korean shipbuilder Samsung Heavy Industries to industrialize its new Mark V technology, adding that a second agreement is also being finalized with Hyundai Heavy Industries.  


Ceona, Seaweld Form Ghana Partnership

Photo courtesy of Ceona

Ceona, SURF contractor with heavy subsea construction capabilities, has entered into a Joint Venture (JV) with Seaweld Engineering which will act as a strategic partner for offshore deepwater construction projects in Ghana. The JV allows Ceona to extend its operations in West Africa and build


MacGregor's Pusnes bow loading systems for Suezmax Tankers

The Pusnes bow loading system enables a shuttle tanker to safely and efficiently load oil from an offshore production or storage facility

  MacGregor, part of Cargotec, has secured contracts to supply Pusnes bow loading systems for three newbuild shuttle tankers intended for operations in Brazilian waters. The order was booked into first quarter 2015 order intake.  


Seaspan Takes Delivery of New Containership

Image: Seaspan Corporation

 Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's second 14000 TEU SAVER design containership and third delivery in 2015.  


ABG Ties Up with GTT for LNG Technology

Pic: ABG Shipyard

 ABG Shipyard Ltd has tied up with Gaztransport and Technigaz (GTT) of France for the maritime transportation and storage of liquefied natural gas (LNG), reports Livemint.   With this pact, ABG has become the third Indian company to secure technology collaboration to build LNG carriers


SCI takes Delivery of VLCC "Desh Vibhor"

SCI logo

The Shipping Corporation of India Ltd. (SCI) accepted delivery of a Very Large Crude Oil Carrier (VLCC) on 28 March, 2015. The vessel has been named “Desh Vibhor”. The vessel was ordered with Jiangsu Rongsheng Heavy Industries Co. Ltd., China during November 2010


Viking Enters Ocean Cruise Industry

Torstein Hagen, chairman of Viking Cruises

Viking Ocean Cruises has announced it took delivery of Viking Star, marking the company's official arrival into the ocean cruise industry.   The delivery ceremony took place on March 28 when the ship was presented at Fincantieri's Marghera shipyard outside of Venice, Italy


Mammoet Bags LNG Project in Louisiana

Logo

  Mammoet announces it has been awarded the heavy lift and heavy haul contract for the Cameron LNG project in Hackberry, Louisiana. The multi-billion dollar project will be comprised of three natural gas liquefaction trains with approved liquefied natural gas (LNG) export capacity of 1


Grand Elena's Hundredth Voyage

LNGC Grand Elena has embarked on her hundredth voyage from Prigorodnoye

The gas tanker Grand Elena, jointly owned by PAO Sovcomflot and the Japanese company NYK, has embarked on her hundredth voyage from the port of Prigorodnoye in Russia to Japan. The vessel is undertaking her latest shipment of liquefied natural gas (LNG) on behalf of Sakhalin Energy Investment


HHI Orders Refrigeration, Cold Stores for FPSO

Photo courtesy of ALMACO

Goliat, the first cylindrical floating production, storage and offloading (FPSO) vessel on the Norwegian Continental Shelf built for Eni Norge and partner Statoil at Hyundai Heavy Industries (HHI), will feature ALMACO’s cold stores and refrigeration machinery.  


Hanjin Heavy wins CMA CGM trio of 20,600 teu orders

Hanjin Heavy Industries and Construction’s Subic shipyard. Photo: Hanjin Heavy

 South Korean shipbuilder Hanjin Heavy Industries confirmed newbuild orders Monday for three ultra-large container ships from CMA CGM.   Plans for the 20,600 TEU ships were first revealed by CMA CGM last month, but the details of the order had not yet been finalized.  


New Arctic Tanker Class Builds Underway

Construction has begun on a new series comprising six Arctic shuttle oil carriers (project 42K Arctic Shuttle Tanker) in South Korea. The steel cutting ceremony for the first ship was held on April 1, 2015 at Samsung Heavy Industries shipyard in the presence of the representatives of PAO Sovcomflot


Oil Under Ice

Helix Oil Skimmer being deployed off the USCGC HEALY.

The U.S. Army Engineer Research and Development Center’s Cold Regions Research and Engineering Lab       How did an urgent requirement to build a road to Alaska end up helping to design submarines and to recover oil spills in the Arctic ice?


Great Lakes Ore Trade Off to a Slow Start

Shipments of iron ore on the Great Lakes totaled just 800,000 tons in March, the lowest level for the month since 2010 and nearly 60 percent below the month’s five-year average, the Lake Carriers’ Association (LCA) reported.  


Cochin Shipyard in Pact with Samsung Heavy Industries

Image: Cochin Shipyard Ltd.

 India's state-owned Cochin Shipyard Ltd (CSL) has entered into a Memorandum of Understanding (MoU) with Korean firm Samsung Heavy Industries for technology partnership in constructing liquefied natural gas (LNG) carrying vessels, reports local media.  






 
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