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THE BIG THREE

LNG Carriers, Drillship Orders Increase in Korea Yard

Photo credit Wiki CCL lngrivers

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. Already, Samsung Heavy Industries has achieved 38 percent of its annual order guidance or $3.8 billion, winning the orders from Inpex’s central processing facilities and two drillships. Orders for LNG carriers and drillships are on an upswing; so far this year Samsung Heavy Industries has achieved 38 percent of its annual order guidance or $3.8 billion, winning the orders of Inpex’s central processing facilities (CPF) and two drillships. SHI has seven drillship options, the most popular shipbuilding category of 2012


S. Korea Still Dominates World Shipbuilding

Hyundai Heavy Industries built Abdelkader, a 177,000 cu. m. Tri-Fuel Diesel Electric LNG Carrier which was named Great Ship of the Year in 2010 by Maritime Reporter & Engineering News.

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


Oil's Merger Year Leaves Some In The Lurch

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


Pollution Control Vessels Launched

boat.JPG

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


Vessel Ordering Mania – Why?

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.


Chinese Shipyard in Fifth Place for First Time

Image: Shanghai Waigaoqiao Shipbuilding

 According to UK-based Clarkson Research Services, Shanghai Waigaoqiao Shipbuilding (SWS) had an order backlog in November of just over three million compensated gross tons  (CGTs), an indicator of the level of shipbuilding ouput.   That puts the Chinese  shipbuilder in fifth place by order backlog in November, posing a threat to South Korean shipyards which had been dominating the top five list for years.  


Damaged Pipeline Recovered

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.


Frontline bids for General Maritime

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


China Launches Three Models LNG Vessels

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)


Cruise Season Opens in the Port of Kiel

Photo: Port of Kiel

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


Another Brutal Year for Korean Shipyards?

Image: Samsung Heavy Industries

 2016 could be a brutal year for Korean Shipyards. Yonhap reports that the country's shipbuilders failed to clinch any new orders in January, underscoring the protracted slump in the global shipbuilding segment.   "January is usually an off-season for shipbuilders


June Deadline for Panama Canal Expansion

Photo: Panama Canal Authority

 The Panama Canal expansion project is now expected to be finished “mid of 2016” says a report in Reuters quoting the waterway's administrator.    "The new set of larger locks for the Panama Canal will be complete by the end of June


SS United States to Sail Again

Rendering of the restored SS United States by Crystal Cruises (Image: Crystal Cruises)

Crystal Cruises reaches deal to restore the record-breaking and storied SS United States to a fully operational modern luxury cruise ship   Crystal Cruises has come to the rescue of historic luxury liner SS United States, today announcing an exclusive purchase option agreement to begin work


Asia-Europe Box Rates Down 8 pct

The containership Maersk Kalmar. Maersk controls around a fifth of containers transported from Asia to Europe. (file image)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 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.


COSCO Eyes Port of Limassol in Cyprus

Image: Limassol Port

 After acquiring control of Greece's Piraeus Port Authority SA, China Ocean Shipping (Group) Company (COSCO), is now bidding to run the port of Limassol on the island of Cyprus, in a bid to extend its reach in the Mediterranean Sea.  


IMTRA Acquires Custom Product Sales Talent

Prentice Weathers

Marine Manufacturer Adds Talented Technical Sales Professional To Expand Key Big Boat Market Segment Presence IMTRA, the leading manufacturer and importer of quality marine products, announced today the addition of Prentice Weathers to its sales team.


Asia-Europe Box Rates Fall Again

File Image (Maersk)

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 13.9 percent to $469 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.


US Oil Drillers Cut Rigs for 6th Week

U.S. energy firms cut oil rigs for the sixth straight week, data showed on Friday, and were expected to shed more in coming weeks with three major U.S. shale oil companies slashing their spending plans after crude prices hit 12-year lows.  


Dorian LPG Post 3Q 2016 Profit

Courtesy Dorian-LPG

Dorian LPG Ltd. a leading owner and operator of modern very large gas carriers, today reported its financial results for the three months ended December 31, 2015. Highlights – Third Quarter Fiscal 2016   * Revenues of $93.3 million


MSC Confirms 4 Ship Order From STX France

Cruise ship company MSC Cruises confirmed orders for four ships in a 3-billion-euro ($3.26 billion) deal that will secure thousands of jobs at the STX shipyard in St-Nazaire in the west of France.   "These are the biggest cruise ships yet built by a European operator - each using


Damen TSHD Launched at Krasnoye Sormove Shipyard

Photo courtesy of Damen

A Damen Trailing Suction Hopper Dredger (TSHD) 1000 was launched at the Krasnoye Sormovo Shipyard on January 29. The TSHD, named Sommers, is the lead vessel of a series of three TSHDs 1000 being built for Rosmorport.   The TSHDs are scheduled for delivery this year


Oakland Port Files for Bankruptcy after Tenant Ends Lease

Oakland's Outer Harbor Terminal filed for Chapter 11 protection on Monday, two weeks after one of its biggest tenants said it was terminating a 50-year lease with the northern California port.   Last month, Ports America, one of the largest marine cargo operators in the country


MSC Ships Get Bigger

MSC Divina. Photo courtesy of MSC Cruises

MSC Cruises, the 4th largest cruise line, confirmed the existing STX France options to build an additional two ships in the Meraviglia class.    The ships, valued by MSC at $1.7 billion, will be longer and bigger versions of the Meraviglia-class ship


BP Reports Biggest Ever Annual Loss

BPs Thunder Horse platform in the Gulf of Mexico. (Photo: BP)

BP shares slide 8 pct after results miss forecasts. BP slumped to its biggest annual loss last year and announced thousands more job cuts on Tuesday, showing that even one of the nimblest oil producers is struggling in the worst market downturn in over a decade.


Spanish Ship Repair On a Winning Streak

(Photo: Astican)

Strategically located Spain, linking countries in Europe, Africa and the Americas, along with a dynamic coast line dotted with number of highly proactive ports have bolstered its progress helping it to become a global leader in the ‘ship’ repairs and conversion






 
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