THE BIG THREE
While China has aggressively built its shipbuilding infrastructure in the past 10 years, the most important number, top winner in contract value, still remains the domain of South Korea, which has reportedly logged $37.8b in orders thus far in 2011 vs. China's $10.3 billion, according to a report today on www.businessweek.com. The evolution of the Chinese shipbuilding industry is actually akin to the development of a shipbuilding nation, with a focus on cheap labor and lower-technology, lower-value tonnage. Meanwhile, South Korea, powered by the "Big Three" of Hyundai, Daewoo and Samsung, today specialize in the high value orders including LNG tankers and oil drilling ships. If history is a guide, though, S. Korean shipyards would be wise to expand its areas of expertise, as it was not 20 years ago that European shipbuilders still dominated the "High Value" tonnage market, while S. Korea was seen as the domain of low-cost tonnage. (Source: www.businessweek.com & staff reports)
Shipbuilding orders trend upward at Samsung Heavy Industries Easing of the Eurozone sovereign debt problems, increased issue of drilling permits in the Gulf of Mexico and growing demand for drillships in Latin America and West Africa have combined to give Samsung Heavy Industries the best order growth visibility among the “Big Three” – Hyundai Heavy Industries and Daewoo Shipbuilding and Marine Engineering.
TotalFina's European energy merger with Elf has tied up the rejuvenated oil sector's last obvious pairing but more marriages may still be on the cards. The revival of oil prices from historic lows that spurred furious company consolidation has not fixed the energy sector's underlying problems and other firms will have to seek strength through size, analysts said. U.S. Texaco and Chevron need acquisitions to avoid being left as Big Oil's poor relations while in Europe Italy's ENI
Upon completion of the second successful pipelay, 22,000’ x 6” in the Ship Shoal area, BISSO MARINE pipeline division reconfigured the DLB BIG CHIEF to recover 14,000’ of 20” pipeline in the Main Pass area. The 20” pipeline, which was crossed by three trunklines, had been uncovered, kinked and moved about during Hurricane Ivan, leaving the line in a condition which prevented any opportunity to pig the pipeline prior to the removal.
Three unique pollution control vessels have been launched in Dorset – with a fourth under construction. The vessels – three with Doosan engines and Westerbeke generators from engine and generator specialist WaterMota – are to be used for oil spill recovery in South America and West Africa. Build by Manor Marine for Desmi Ro-Clean, the steel Pollution Catamarans (Pollcats) – 19m, 15.5m and 12m - are designed to absorb oil or pollution working at a speed of up to
The flood of interest in ordering new container vessels is motivated by other factors than supply and demand. The recent surge in new vessel orders at a time of industry-wide overcapacity suggests that market fundamentals are no longer the main driver. Even when the most recently ordered ships are delivered in 2016, Europe and the U.S. are still likely to be climbing out of recession, which means that capacity in the east-west trades will continue to outstrip demand.
Bloomberg has reported that shares of General Maritime Corp., the second-largest US oil-tanker owner, may not rise much further after Bermuda-based Frontline Ltd. raised its stake in the company and said it would seek talks to combine the businesses, JPMorgan Chase & Co. said.General Maritime’s shares are trading at 12 percent more than $36.70, which is JPMorgan’s estimated net asset value for the company at the end of 2006
According to a Feb. 7 report from Chinese news agency, Xinhua, China State Shipbuilding Co. (CSSC), the nation's biggest shipyard, launched three self-developed models of liquefied natural gas (LNG) ships. The three LNG vessels, with a capacity of 160,000 cubic meters, 175,000 cubic meters, and 220,000 cubic meters, are built to meet the increasing shipping demand as the world's economy is on the track of recovery, said the CSSC. (Source: Xinhua)
This year’s cruise shipping season in Kiel opened on Saturday, April 5 when the first cruise ship of the year, the AIDAcara, berthed in the port after sailing through the Kiel Canal. During this year’s season, which will last until mid October, 22 different cruise ships are registered to visit Kiel a total of 125 times. The highlights of the season include the Kieler Woche regatta between June 21 and June 29 during which 16 cruise ships will be in the port alongside many tall ships
During the recent CMA Shipping 2015 conference in Stamford, Connecticut, ABS Chairman and CEO Christopher J. Wiernicki provided the conference's keynote address to set the agenda for discussion over the following two days. CMA Shipping is an annual meeting of nearly 1,300 leaders of the maritime industry from around the world, the largest gathering of maritime executives in North America. Wiernicki gave the attendees plenty to consider as he laid out his vision for how the maritime
Brazilian miner Vale has completed the sale of four other large iron ore carriers to China Ocean Shipping Company (Cosco), which was agreed last September. This transaction is related to the agreement signed with Cosco on September 12, 2014.
British oil major BP and China’s Sinopec Fuel Oil have formed a marine fuels bunkering joint venture (JV), BP Sinopec Marine Fuels Pte Ltd. Under the deal, the 50-50 percent joint venture, BP Sinopec Marine Fuels Pte Ltd
Container service reliability reached a data-series high in April with the aggregate on-time performance for the three key East-West trades rising to 67.6%, up by 4.1 percentage points on March, according to Carrier Performance Insight , the online schedule reliability tool provided by Drewry
HSH Nordbank AG, the world’s second-largest financier of ships, plans to split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model, reports Reuters. The city of Hamburg was willing to inject billions of euros in
Peru, the world's third biggest copper producer, closed its main port, Callao, and dozens of others because of rough seas, a local newspaper reported Saturday. The ports will likely remain closed through Monday, when a storm in the South Pacific is expected to have moved north
UK- based shipping consultants Drewry said that it was only a matter of time before these carriers make the formal announcement that Hamburg Süd is to become a fully-fledged member of Ocean Three, or Ocean Four as it will presumably have to be re-named.
Royal Caribbean’s Brilliance of the Seas, one of the biggest ships on the seven seas, docked in port at Nauticus, Norfolk for a short time and fueled big business across Hampton Roads. Nearly 3,000 people on-board flooded on the streets of Norfolk
The Port of Montreal is expecting a banner year of tourism. The emergence of spring marks the beginning of a brand new cruise season, says Tourisme Montréal. With no fewer than 19 ships expected, including 5 new ones (the Oceania Marina, Oceania Insignia, AIDA Diva
Freight rates for the shipping of containers from Asia to Northern Europe jumped by 151 percent per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) is in talks with a unit of A.P. Moller-Maersk for a potential order to build ultra-large container ships, a DSME spokesman said on Monday. DSME is close to winning an order for some 11 container ships of 20
The largest vessel registered in the UK Ship Register has arrived in Southampton today. CMA CGM Kerguelen, a 398-meter-long containership operated by the CMA CGM Group, is big enough to pack five and a half A380 Airbuses on. It is capable of carrying 17
Greece has asked three firms to submit binding bids by September for a majority stake in the country's biggest port, Piraeus, a senior privatisation official told Reuters on Thursday, unblocking a major asset sale. Greece had shorlisted China's Cosco Group and four other groups for a 67 percent
Greece is in advanced discussions with China's Cosco to boost their cooperation in the country's biggest port Piraeus, the Greek defence minister said on Friday. Cosco, which currently manages two container piers at Piraeus Port, is also interested in acquiring a majority stake
Construction work on nine tugboats for Transnet National Ports Authority (TNPA) at the Southern African Shipyards premises in Durban is well under way. "This is a milestone project that reinforces the capacity and skill of South Africa when it comes to competing in the global shipbuilding
The North Sea oil and gas industry has been urged to buck the trend and prepare for growth in the near future. Attendees at an event organized by subsea intervention and commercial diving specialists K.D. Marine in Aberdeen recently, heard an upswing in oil price was imminent and