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
The first phase of the Jiangnan Changxing Shipbuilding Base has been finished and is already in operation on Changxing Island, Shanghai. Built by the China State Shipbuilding Corporation (CSSC), it has three production lines and four boatyards capable of holding 300,000-ton ships. Almost unparalleled in the world, it is the biggest shipbuilding project ever to be undertaken in China. Shanghai has the potential to be the world's largest shipbuilding base.
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
Some of the shipping industry's biggest trade associations are modifying freight contracts to reduce commercial exposure for companies whose ships travel to countries affected by the Ebola outbreak and to protect crews from the deadly virus.
Denmark's A.P. Moller-Maersk said its four subsidiaries with activities in Russia continue to operate as planned despite the recent sharp drop in oil price and the rouble's collapse. "The Group's business with Russia amounts to some two to three percent of our total revenue
China's Zhoushan Changhong International Ship Recycling and Jiang Xiagang Changjiang Ship Recycling Yard, world’s two biggest ship scrap yards by capacity, have applied for the inclusion of their facilities in the future EU list of Ship Recycling Facilities.
Australia and Japan appear to be inching closer to an agreement on the sale the top-secret technology from Japan to build a fleet of new generation submarines. Size, technology and stealth are proving too great a draw for Canberra.
Swiss trading house Mercuria has moved to become a significant player in the marine fuel market by hiring a team of close to 40 former employees from the once-largest supplier, traders and sources close to the matter said on Tuesday. The bankruptcy of Denmark's OW Bunker
Germany's Hapag-Lloyd said on Tuesday it had received the last outstanding regulatory approvals for its planned merger with Chilean shipper Compania SudAmericana de Vapores, clearing the way for the two companies to be formally combined. The merger, which will create the world's No
Hapag-Lloyd and the Chilean Compañía Sud Americana de Vapores (CSAV) are joining forces, by merging CSAV´s container business activities into Hapag-Lloyd, becoming the fourth-largest liner shipping company in the world. The corresponding contracts for the merger of the two
150 Years Young, the 5th Generation Plots the Future Course McAllister Towing In 1864 Abraham Lincoln was president, and the U.S. was embroiled in the midst of civil war. In 1864, McAllister Towing was established (originally as the Greenpoint Lighterage Co.) in New York City
Somali pirate attacks down by 95 pct since 2011 -Maritime bureau. Cash-strapped maritime security firms are being forced to use fewer costly elite guards and to diversify into other businesses such as cyber security, as a steep decline in Somali pirate attacks and hotter competition erode
Spanish rescue teams said they had called off their search for more than 20 migrants who fell off their boat into the Mediterranean on Friday. Around 30 others, including a pregnant woman and eight children, were rescued after the vessel got into trouble south of Almeria
Sharjah Ports Authority and Damen Shipyards celebrate keel laying of two new vessels Sharjah Ports Authority and Damen Shipyards officially celebrated the keel laying of two new vessels on December 11 at Damen Shipyards Sharjah, the Dutch group’s new facility
Global conglomerate Libra is snapping up container ships, betting on a sector recovery and lower oil prices which will cut costs and boost profitability, the group's chief executive said. Libra has proved adept at buying and selling assets since 2008 -- making significant returns on investments
U.S. lawmakers gave a preview on Thursday of a looming fight next year on lifting the ban on crude exports with supporters saying it would sustain the drilling boom and others questioning its impacts on industry and fuel prices. In a House of Representatives hearing on the ban
United Nations climate talks, which ran on into a an extra day on Saturday, are heading for a watered-down deal on limiting global warming, leaving many of the toughest issues for next year's Paris summit. Peruvian Environment Minister Manuel Pulgar-Vidal, hosting the talks
The Lloyd’s Register Foundation today launched its Foresight review of big data and announced a conditional grant offer of £10 million to support research by the Alan Turing Institute on engineering applications of big data.