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
Low solar and wind power supply expectations on Monday boosted European prompt power prices with demand supported by a gradual turn towards colder weather. Point Carbon forecasts showed German solar supply on Tuesday likely to come in at 0.9 gigawatt (GW), down from 1.9 GW on Monday
Tug engineers withdrew plans to strike at Port Hedland, Australia's biggest iron ore port, tug operator Teekay Shipping said on Thursday, removing a threat to exports from BHP Billiton and Fortescue Metals Group Ltd. The Australian Institute of Marine & Power Engineers (AIMPE) a day earlier
Demand from top Asian buyers drops sharply; Asian, European gas price spreads converge. Europe set to becoming dumping ground for LNG. Europe is set to become a dumping ground for the world's unwanted gas supplies this winter as Asian demand for sea-borne shipments fizzles out
Containerized imports shipped through the Port of Oakland were up 9.17% in October from a year ago, the port said, citing the surge as the biggest jump in import cargo volume in six months. According to statistics released today, vessels discharged the equivalent of 73
Regal Princess and Costa Diadema christened this week in two naming ceremonies over the span of three days; in 2015, P&O Cruises UK and AIDA brands will each add a new ship, giving Carnival Corporation a total of four new ships added across four global cruise brands in less than 18 months
Shipping companies and bunker oil traders scrambled to source fuel and take over supply contracts on Thursday after OW Bunker, one of the world's biggest shipping fuel firms, said it faces possible bankruptcy after uncovering internal fraud.
Dorian LPG Ltd. today reported its financial results for the three months ended September 30, 2014. Highlights – Second Quarter Took delivery of the second vessel under our VLGC newbuilding program, the Corsair, from Hyundai Heavy Industries Co. Ltd
Traders and shipping companies scrambled to source fuel and take over supply contracts on Friday after Danish marine fuel supplier OW Bunker said a suspected fraud at its Singapore subsidiary had pushed it to the brink of bankruptcy. The alleged fraud at Singapore-based subsidiary Dynamic Oil
Natural gas workers in Peru, South America's biggest exporter of liquefied natural gas, said on Friday they had pulled out of wage talks with Argentine energy company Pluspetrol and would vote on a possible strike in a few weeks. Pluspetrol leads the consortium that taps Peru's Camisea
“In a large part driven by our country’s energy boom, the domestic shipbuilding industry is seeing robust activity, the most over three decades." "Billions of dollars are being invested to meet the demands of oil production, and nearly 30 large, self-propelled
The EU sulfur directive for marine fuels offers an opportunity for innovation in fuel-saving technologies With many ship owners switching to marine gas oil (MGO) inside designated Emission Control Areas (ECAs) as of January 1, 2015, the cost of fuel could rise by up to 50%
Major oil companies, trade firms to expand market share; tight credit hits small retailers. The collapse of OW Bunker in the wake of an alleged fraud at its Singapore trading unit will shake up the city state's more than $25 billion marine fuel market, the world's largest
Belgian law firm Deminor said it had been contacted by 15 to 20 investment firms considering legal action over the failure of OW Bunker, the world's largest shipping firm which filed for bankruptcy a week ago. Deminor, which specialises in representing institutional investors in class actions
Simrad Yachting, announced today its partnership with Key West Boats, Inc. With a reputation for uncompromising attention to detail, particularly in construction and design, Key West has established a history of a worry-free experience for owners and unsurpassed resale value for
Brent crude jumped almost $2 a barrel on Friday for its biggest daily gain in three weeks as support emerged a day after prices crashed to four-year lows below $80, but analysts were skeptical the rebound would continue, citing concerns over oversupply.