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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


Pollution Control Vessels Launched

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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


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


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.


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.


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


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


Hutchison Buy Follows Maersk Deal

Hutchison Port, a unit of conglomerate Hutchison announced earlier on Wednesday a 30 percent investment in Westport Holdings, a multi-purpose terminal in Malaysia's biggest port, Port Klang. Hutchison, controlled by Hong Kong tycoon Li Ka-shing, said in a statement that the deal would allow it to participate in Malaysia's economy. It gave no other details of the deal. Malaysia has 15 ports including Port Klang, on the west coast of Malaysia, which is the nation's main port.


Asia-Europe Box Rates Fall Almost 6 pct

File image: a Maersk Line Box ship.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 5.5 percent to $586 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.


Panama Canal Sets Sight on Another Expansion

Photo: Panama Canal Authority

As it enters the final stretch of a massive expansion, the Panama Canal Authority is setting its sights on an even more ambitious project worth up to $17 billion that would allow it to handle the world's biggest ships.   Workers are now installing giant


Kenya Ready to Start Work at Northern Port

Kenya is ready to begin work on the first three berths at a long-delayed port on its northern coast, next to the historic trading town of Lamu, President Uhuru Kenyatta said in his annual State of the Nation address on Thursday. The Lamu Port-South Sudan-Ethiopia Transport (LAPSSET) project


Mega Ships and Cyber Attacks Pose New Threats

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Shipping losses continued their long-term downward trend with 75 reported worldwide in 2014, making it the safest year in shipping for 10 years, according to Allianz Global Corporate & Specialty SE’s (AGCS)  third annual Safety and Shipping Review 2015


Nexen Closing Crude Oil Trading Division

Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, is closing its crude oil trading division following a round of job cuts announced last week, four market sources said on Monday.   The Calgary-based company, which was acquired by state-controlled CNOOC in 2013 for $15


Lithuanian Energy Group Calls for Rule Change on LNG Imports

Lithuania's state-owned energy group Lietuvos Energija said on Monday national rules had to be changed to allow it to sell some liquefied natural gas (LNG) cargoes it had contracted from Norway's Statoil in the global market as domestic demand falls.  


French Coast Braced for Giant Tide

Photo by France’s National Hydrographic Service

  Towns on France's North Atlantic coast braced for their first giant tide of the millennium on Saturday as the full moon and this week's solar eclipse combined to create an ocean surge not seen since 1997. At the picturesque Mont Saint Michel island where some of the biggest tides in the


Port Backlog Slows Cameroon Cocoa Exports

Cocoa exports from Cameroon's main port have slowed sharply because the outlet is clogged by a buildup of imported goods bound for Central African Republic that have not been sent due to political unrest, officials said.   The port is the main gateway for goods into and out of the oil, cocoa


Singapore Wants India to Play Key Role in South China Sea

Chief of Army Staff of the Indian Army, General (GEN) Bikram Singh and Singapore Minister for Defence Dr Ng Eng Hen (Photo: Government of Singapore)

 Singapore Defense Minister Ng Eng Hen said that his country wants India to play a bigger role in the South China Sea, according to a report in the Bloomberg.   This statement comes in a time when China generating plenty of anxiety from the other nations in the neighborhood as it isn't


Britannia Sets Sail on Maiden Voyage

Britannia - image by P&O Cruises

 Britain's biggest ever cruise ship, the 141,000-ton Britannia, which was officially named by Her Majesty The Queen in Southampton has set off on its maiden voyage.    Thousands of passengers will be among the first to experience the luxury


Tanzania Dreams Big with Port Project

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  In its heyday, Bagamayo was a gateway to the heart of Africa for colonisers, with trade goods surging in from the Indian Ocean, and timber, ivory and countless slaves exported from the east coast harbour. Then Bagamoyo, which looks out towards the island of Zanzibar


Enel Green Power 2014 Net Profit Falls 32%

Enel Green Power, Italy's biggest renewable energy company, said on Thursday its net profit in 2014 fell 32 percent to 359 million euros ($381 million).   The company said the fall reflected a goodwill writedown on its CGU Enel Green Power Hellas asset to the tune of 181 million euros.


Faltering Capesize Demand Drags Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, slipped further on Thursday on extended weaker demand for bigger vessels.   The index, which factors in the average daily earnings of capesize, panamax


Queen Names P&O Cruises' New Luxury Ship

Her Majesty The Queen, accompanied by His Royal Highness The Duke of Edinburgh, officially named P&O Cruises new flagship Britannia. (Photo by James Morgan, © P&O Cruises)

P&O Cruises UK’s Britannia, the biggest ship designed exclusively for Britain, was christened today in official naming ceremony; AIDA Cruises’ AIDAprima will begin service later this year, the second of 10 ships scheduled to be delivered to Carnival Corporation’s fleet


German Cruise Market Looks Top Slot

Pic by CLIA Europe

 The ocean cruise market in Germany continues to be one of the fastest-growing tourism sectors. Going by current trends, Germany could rival the UK’s position as the second largest ocean cruise market.   Clia Germany revealed at ITB Berlin that 1






 
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