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THE BIG THREE

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, 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)  


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.


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


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.


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


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.


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


ABS CEO Lays Out Vision for Technical Leadership at CMA Shipping

      ABS CEO Christopher J. Wiernicki

  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


CNOOC Profits Nosedives, Eyes South China Sea

Photo: Cnooc Ltd

 Cnooc Ltd., China’s biggest offshore oil and gas explorer, posted a 56 percent decline in profit for the first half of this year.   Net income dropped to 14.73 billion yuan ($2.3 billion), or 0.33 yuan a share, from 33.59 billion yuan, or 0


Malaysia, Indonesia Team up to Fight Piracy

Photo: Malaysian Maritime Enforcement Agency

 An increase of incidents of piracy and armed robbery in SouthEast Asia has prompted Malaysian and Indonesian law enforcement to form a joint rapid deployment team in response, says a report in Reuters.   According to reports, the joint force will deploy three helicopters to secure the


Oil Soars in Biggest One-day Rally in Years

File photo

Oil rocketed as much as 10 percent higher on Thursday, posting its biggest one-day rally since 2009 as recovering equity markets and news of diminished crude supplies set off a short-covering surge by bearish traders.   Snapping back from a deep two-month slump that reached 6-1/2 year lows


Carnival Ramping Up in New Orleans

The 3,646-passenger Carnival Dream embarks from the Port of New Orleans Erato Street Cruise Terminal. The 130,000-ton ship is the port’s largest year-round cruise ship and sails seven-day itineraries to eastern and western Caribbean destinations. (Photo: Port of New Orleans)

Carnival on track for record year from Port of New Orleans in 2015; expects to embark 3 millionth passenger post-Katrina next year   New Orleans’ number one cruise operator Carnival Cruise Line continues to expand its presence at the port and expects to carry a record 400


Havyard Group Restructuring to Stay Profitable

New focus areas Havyard hopes that other markets, such as fisheries, aquaculture and renewable energy, will help to compensate for the downturn in the offshore market.  Here represented by a Havyard 832 SOV that is operated

  Havyard Group ASA is taking further measures to adapt to the market situation and maintain the Group's profitability, thereby securing jobs for the future All business areas in Havyard Group have been affected to a varying degree by the general downturn in the market in the oil industry


Hamburg 2015 Port Forecasts Revised Downward

Photo: Port of Hamburg

The Port of Hamburg Marketing Association has slashed its forecast for container volumes at Hamburg's port, a hub for eastern European trade, due to weakening growth in China and shrinking trade with Russia. The association said on Monday it now expects container volumes to fall 7 percent to 9


Maersk Orders Advisory Software for 140 Ships

Photo: Maersk Line

ABB and Dutch weather forecasting specialist MeteoGroup have won an order to outfit 140 Maersk container vessels with software to optimize routes   Power and automation group ABB informs it is working with MeteoGroup to equip 140 containerships from Maersk Line with advisory software to


Tianjin Explosion Highlights Growth of Accumulation Risks

The recent catastrophe at the port of Tianjin in China resulted in the loss of at least 100 lives and many more people are still missing. It is far too early to speculate on the cause, but the explosions left extensive physical damage as well as the appalling loss of life.  


Maersk to Boost Asia-Euro Box Rates Sharply

File Image (Maersk)

The world's largest container shipping company, Maersk Line, plans to raise spot freight rates sharply on main routes from ports in Asia to ports in northern Europe, with effect from Sep 1, the company said. Spot rates for twenty foot equivalent unit containers (TEU) will rise by $1,000


Challenging Times Ahead for LNG Shipping

Global LNG Trade and Drewry LNG Liquidity Ratio per quarter (2013-2015YTD). Source: Drewry Maritime Research

LNG carrier freight rates have come under severe pressure due to rising fleet supply and stabilizing LNG demand, as Japan prepares to restart its nuclear power plants. Despite the general market belief that new LNG supply from Australian projects will provide ample employment to the growing fleet


Huge Shiploader Journeys from China to the US

Photo: HANSA HEAVY LIFT

A shiploader weighing more than 560 metric tons has made the voyage from Nantong, China to Portland, Ore. in the U.S. with the help of transporter HANSA HEAVY LIFT GmbH (HHL).   The shiploader, which measures 36.5 meters in length x 56.44 in width x 31


Lowrance, Phoenix Boats Join Forces

The agreement represents a big win for new Phoenix Boat”

  Lowrance, a world-leading brand in fishing electronics since 1957, announced today its renewed OEM partnership with Phoenix Bass Boats. Under the terms of the renewed three-year agreement, Lowrance is the standard electronic equipment on all Phoenix high-performance bass boats.


Search Suspended for Overboard Freighter Crewman

M/V Stewart J. Cort (Photo: Interlake Steamship Company)

The search for a man who reportedly jumped overboard from a freighter near Big Sable Point in Lake Michigan early Sunday morning has been suspended, the U.S. Coast Guard reported.   Watchstanders at Coast Guard Sector Lake Michigan received a report just before 2 a.m


Shipping Magnate John Fredriksen Concerned about China

 John Fredriksen. Photo: Twitter

 The turmoil spreading from China is certainly not good for the shipping market, says billionaire John Fredriksen to Bloomberg News.   John, the billionaire who made his fortune investing in crude tankers, said he’s “very worried” on global shipping markets


Interview: Germán Carlos Suárez Calvo, CEO of Astican & Astander Shipyards

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How did you find a career in the maritime industry? As a consequence of my father´s dedication to the industry, as founder of a shipping agency in the early eighties as well as partner in a large shipping company and shipyard´s ownership






 
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