THE BIG THREE
Samsung Heavy Industries, South Korea's major shipyard, build a floating production unit for British oil multinational BP that will be used in offshore drilling in the Gulf of Mexico, says a report in Yonhap. The 1.5 trillion won ($1.26 billion) contract is the first for a floating oil production platform to be received by any of South Korea's big three shipbuilders in 18 months, according to Samsung Heavy. Under the deal with BP Plc, Samsung Heavy will build a floating production unit (FPU) by August 2020. The semi-submersible platform will be used for BP’s field development project, called ‘Mad Dog II,” in the U.S. Gulf of Mexico. Production began in the Mad Dog oil field in 2005. Last month, BP sanctioned the US$9 billion Mad Dog Phase 2 project, with first production set to start in late-2021. The facility will be able to produce 110,000 barrels of crude oil, according to Samsung Heavy. This is the first mega deal of the year 2017 for South Korean shipbuilders who are struggling to bring in new orders. The big three of Samsung Heavy, Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering are restructuring, urged on by the government of South Korea to improve their bottom lines.
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
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
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
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.
According to UK-based Clarkson Research Services, Shanghai Waigaoqiao Shipbuilding (SWS) had an order backlog in November of just over three million compensated gross tons (CGTs), an indicator of the level of shipbuilding ouput. That puts the Chinese shipbuilder in fifth place by order backlog in November, posing a threat to South Korean shipyards which had been dominating the top five list for years.
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)
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.
Japan’s three largest shipping companies - Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K Lines (MOL), and Kawasaki Kisen Kaisha (“K” Line) - and three other carriers worldwide will form the world's third-largest container shipping alliance, reports Nikkei. South Korea's Hanjin Shipping, Germany's Hapag-Lloyd and Taiwan's Yang Ming Marine Transport, on Friday agreed to join forces.
Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships on key Asian routes are likely to hold steady as ship owners resist charterers' attempts to push rates lower amid a dearth of cargo, ship brokers said. "We are reaching a floor, particularly in the Pacific. It's got to the point where owners just won't fix their ships," a Singapore-based capesize broker said on Thursday
They say Navy is like one big family but when it comes to three people in the west it’s more a case of a family within a family. Lieutenant Commander David Sutherland, (Deputy Officer-In-Charge Fleet Logistic Support Element – Submarines) and his sons Commander Daniel
Ships of the future will have to be lighter, smarter, cleaner, more reliable, more efficient and safer. Sounds like a tall order, but that’s where the industry is headed. Experts like DNV GL and Rolls Royce concur: technologies available today will combine with those just
From growing up on San Diego Bay then graduating from the California Maritime Academy to leading a fast-growing, technologically advanced, family-owned group of shipyards, Todd Roberts, for as many of his 43 years that he can remember, has always been ‘maritime.’
With the ClarkSea Index around $9,000/day, and many if not most of the major shipping markets under severe pressure, it’s hard to escape the conclusion that the shipping markets are a tough place right now, with limited pickings to share between owners.
Though the challenging market conditions in the container shipping industry continued to add pressure to Japan’s major shipping companies, turnaround seen as write-downs set to fizzle out, earnings forecasts upgraded, reports Nikkei.
The biggest change in shipping fuel for decades is three years away, but shipping and refining companies need to be taking action now to ensure the world will have the millions of barrels of cleaner fuel it will need. The problem, according to participants at the Platts Middle Distillates
It may seem a big surprise for a country whose industry is proud of green technology and engineering solutions, but Germany is responsible for the worst shipbreaking practices among all shipping nations when one compares the size of its fleet to the number of ships broken irresponsibly
Libya's coast guard intercepted at least 1,131 migrants near the western city of Sabratha over the course of a week, a spokesman said on Saturday. Ayoub Qassem said 431 migrants had been intercepted on four inflatable boats off Sabratha's coast on Thursday and some 700 had been picked up on Jan
Loading disruptions at ports in East and South Kalimantan on the Indonesian side of Borneo island are causing a coal supply shortage in one of the world's most important export regions, causing delays as ships wait to take on new cargoes.
Last year saw a huge amount of change in the under pressure container shipping sector, according to Clarksons Research report. In particular, the ongoing consolidation of the sector in one form or another grabbed the headlines. To put this into context
Shares of Tangshan Port Group Co Ltd soared 7 percent on Tuesday, to post their biggest daily percentage gain in nine months, as investors bet the small port would benefit from a major clampdown on coal transportation at its larger rival.
The extent of sea ice in the Arctic and Antarctic last month was the lowest on record for January, the U.N. World Meteorological Organization said on Friday, while concentrations of carbon dioxide in the atmosphere hit a January record. "The missing ice in both poles has been quite
Sydney City Marine has completed its first maintenance docking of a Damen vessel since the signing ofa Memorandum of Understanding (MOU) with Damen Shipyards Group last year. The works signify the successful cooperation between Damen Services in the Netherlands
Many maritime organizations are already working with “Big Data” or are preparing to start working with it as part of the so-called digital transformation. Dutch ICT company Shipbuilder presents its top five priorities for the uptake of big data in the maritime sector.
Spanish dock workers have called nine days of strikes to protest government plans to allow ports to hire non-unionized labor, El Pais newspaper reported on Tuesday, threatening to disrupt trade for up to three weeks from March 6. Dockers last week called off a planned three-day strike