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
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the past seven years, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens
More than 2,000 workers at East Africa's biggest port in Kenya's coastal city Mombasa went on strike on Wednesday protesting an increase in the amount they will have to pay for state-run health insurance. Cargo ships remained unattended as workers gathered and held discussions in groups
Confidence levels in the global shipping market have fallen to a seven-year low as a glut of cargo ships, weak freight rates and excess liquidity continue to batter the industry, a survey by Moore Stephens, a London-based consulting firm finds.
The Kenya Ports Authority said on Thursday striking workers at the Mombasa port should resume work by Friday morning or lose their jobs, and that normal activities at East Africa's biggest port will resume July 6. The workers are disputing higher deductions for the government's national health
Crowley Maritime Corp. announced that 65 of its vessels were recently recognized for participation in the Automated Mutual-Assistance Vessel Rescue (AMVER) program, a computer-based voluntary global ship reporting system used worldwide by search and rescue authorities to arrange for assistance to
Svitzerhas ordered two more Damen ASD 3212 tugs with 80 tons bollard pull performance for its escort and towing operations on the Thames and Felixstowe. They are being built at Damen’s ong Cam Shipyard in Vietnam and will be delivered to Svitzer UK in October 2015.
Anadarko Petroleum is in talks with newly formed Japanese joint-venture vehicle Jera, set to become the world's biggest buyer of liquefied natural gas (LNG), to sell long-term supply from its Mozambique export scheme. The U.S. oil major's gas finds in Area 1 of Mozambique's Rovuma
EXMAR stated that on June 23rd 2015 under the witness of King Philippe of Belgium and President Xi Jinping, Mr. Jiang Jianqing, Chairman of Board of ICBC and Mr. Nicolas Saverys, CEO of EXMAR, signed the financing agreement for the world’s first floating LNG unit (FLNG –
Recently in its New York City office Maritime Reporter sat with Paul Holthus, CEO of the World Ocean Council, for a discussion of the trend toward corporate ocean responsibility and his organization’s contribution to that end. Can you tell us a bit about your meeting at the United
The CMA CGM Group is will host the Chinese Prime Minister Li Keqiang in its Marseilles headquarters on July 1. Chinese Prime Minister Li Keqiang is scheduled to visit the CMA CGM Group headquarter on July 1, accompanied by France Minister of Foreign Affairs Laurent Fabius
Project will enhance wharf, rail and yard infrastructure to optimize terminal operations The Port of Los Angeles will begin construction this summer on a two-year project to improve the marine container terminal operated by Yusen Terminals LLC
As the demand for mega vessels has increased, Hyundai Heavy Industries Co. expects mega- sized container ships to lead global orders until early next year as shipping companies seek ways to cut costs, reports Bloomberg. Hyundai Heavy is the world’s biggest shipbuilder.
ShipServ, the leading marine and offshore marketplace with an expected annual trade of $3bn in 2015, has cemented its position in Asia with the opening of a new office in Singapore. The office will be managed by ShipServ’s VP of Sales Sharon Gill and will be open for business from
Oil and shipping conglomerate A.P. Moller-Maersk said on Tuesday it was experiencing no problems funding operations in Greece or getting paid by Greek customers despite the imposition of capital controls by Athens. Maersk Line, the world's largest container shipping company
Italy's navy said on Tuesday it had retrieved the first bodies from the wreck of a boat that sank in the Mediterranean three months ago, killing up to 800 migrants attempting to cross from Libya to Europe. Recovery operations started on Monday