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Carrier Order

Hyundai Heavy $600M Order for LNG Carriers

* Photo: Abdelkader, LNG Carrier Hyundai Heavy built and selected as one of the world’s best ships in 2010.

Hyundai Heavy Industries, the world’s largest shipbuilder, won a $600 million order to build two 155,000 m3 LNG carriers, including an option for another same class vessel, from Greece-based Dynagas Ltd. These membrane-type LNG carriers are due for delivery in the second half of 2013. They will feature the Dual Fuel Diesel Engine System which allows the ship to run on oil fuel or natural gas. Due to tightening global regulations on carbon emissions, increasing demand for LNG as an alternative energy source after Japanese nuclear crisis, and price competitiveness of LNG in comparison with oil prices, Hyundai Heavy expects to see more liquefied natural gas carrier orders in the future. As a part of the Company’s long term strategy for the expected increase in demand for LNG carriers and LNG FPSOs, Hyundai Heavy has been actively developing a special welding system that can work on the thick aluminum plates used for the LNG tanks. Winning this order brings Hyundai Heavy’s total new orders in shipbuilding and offshore & engineering divisions so far this year to 42 ships worth of USD 10.5 billion, or 53% of the new order target of USD 19.8 billion. Source: HHI


Bergesen Makes Preliminary LNG Agreement

Bergesen has entered into a preliminary agreement with the Algerian oil company Sonatrach for employment of one LNG-carrier for minimum 20 years from delivery. Sonatrach has an option to extend the agreement by maximum five years. The vessel is the third vessel in a series of seven large LNG-carriers ordered by Bergesen at Daewoo Shipbuilding & Marine Engineering Co. Ltd, Korea. The vessel shall be delivered in third quarter 2004.


Daewoo's Financials Come Full Circle

A flood of LNG carrier orders and dollar-denominated payments skewed towards delivery have helped South Korea's Daewoo shipyard, (now known as the world's second largest shipbuilder) still under workout, craft one of the country's most dramatic corporate turnarounds. "It is like dreaming a really good dream," said a high level official at Daewoo Shipbuilding. "We are now nearly monopolizing the global market for LNG carriers and benefiting from the recent weak won better than our rivals


EU Monitors Market

No improvement in the market and no change in the behaviour of South Korean yards, says fifth Commission report on world shipbuilding The world shipbuilding market continues to face serious difficulties, while certain South Korean yards are still pricing ships below cost, notes the European Commission's latest (fifth) report on world shipbuilding, adopted today. World ship prices are still being depressed by excess supply, due to past expansion of yards mainly in Korea


DSME Rolls Out World's Largest Containership

 Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has named the MSC Oscar, which has claimed the title of the world’s biggest containership. After the christening ceremony the MSC Oscar departed for Busan. The vessel has a capacity of 19,224 containers, and is the equivalent of four football stadiums in length with the nominal capacity of 19,224 TEU. The prestigious title has been taken over from China Shipping’s CSCL Globe, boasting 19,100 teu


Latest Global Shipbuilding Orders

With the newbuilding market remaining quiet towards the end of August, Clarkson Hellas S+P Weekly Bulletin reports a limited number of dry bulk carrier orders in the Capesize sector, with few orders in other sectors as follows: Rizhao Steel (Cara Shipping) are understood by Clarkson Hellas to have contracted two firm 180,000 DWT Capesize at both Dalian and Qingdao Beihai, with an additional two options at the latter


ABS to Class the World's First CNG Ship

ABS Chairman and CEO Christopher J. Wiernicki

ABS announced it has been chosen to class the world's first compressed natural gas (CNG) carrier ordered by Pelayaran Bahtera Adhiguna, a subsidiary of Indonesia's state-owned power company Perusahaan Listrik Negara (PT PLN). The award for the precedent-setting ship, to be built at Qingdao Wuchuan Heavy Industry's shipyard in northern China, is the latest example of ABS' leadership in the gas ship sector, where the largest share of LNG ships is presently being built to its classification


Rolls-Royce to Design, Power Fish Carrier

Photo: Rolls-Royce

Rolls-Royce announced today that it has signed a contract for the delivery of design and equipment for a live fish carrier, to be built at the Tersan shipyard in Turkey for Faroese ship owner Bakkafrost. The contract is worth approximately £5.8 million to Rolls-Royce. The vessel is a Rolls-Royce design, type NVC 386, featuring the characteristic wave-piercing bow designed to cut through waves in rough seas, making it possible to keep a more constant speed


MHI : Landmark LNG Carrier Shipbuild Contract

Photo: MHI

On May 17, 2013, Mitsubishi Heavy Industries Ltd. (MHI) will sign an agreement with Mitsui O.S.K. Lines Ltd. (MOL) to build a Sayaendo series new-generation liquefied natural gas (LNG) carrier. Sayaendo series ships feature a unique structure that integrates the LNG tank cover with the ship hull, resulting in significantly improved fuel consumption and maintainability. From 2020 the new ship will be used mainly for transportation of LNG produced by the Ichthys LNG Project in Australia for


OSG To Build Four Tankers

Overseas Shipholding Group, Inc. will build four, 114,000 dwt 44-meterbeam Aframax tankers at the New Times Shipbuilding Co., Ltd. shipyard based in Jinjiang, China. The vessels, scheduled for delivery in 2008 and 2009, will increase OSG's Aframax fleet to 21 tankers serving customers in the Atlantic basin, and will operate in the Aframax International (AI) pool. The tankers will be built using the new Common Structural Rules (CSR) recently established by IACS for all tankers and


IRS Introduces Ship Construction Standards

The International Register of Shipping has submitted goal-based new ship construction standards for verification audit by the International Maritime Organisation. IRS is the only Recognized Organisation outside the International Association of Classification Societies (IACS) to have developed


LNG Vessel with Wartsila Integrated Solutions Delivered to Evergas

Evergas scope

  The first in a series of 27,500 cbm 'Dragon' class vessels ordered by Evergas, a world renowned owner and operator of seaborne petrochemical and liquid gas transport vessels, is being delivered from the Sinopacific Offshore & Engineering (SOE) shipyard in China today


Bahri Orders VLCC Newbuilds

Bahri ordered five newbuild very large crude carriers from Hyundai Samho Heavy Industries   The National Shipping Company of Saudi Arabia (Bahri) today signed an agreement with Hyundai Samho Heavy Industries (HSHI) Co. Ltd. to build five very large crude carriers (VLCC)


Hyundai Heavy Delivers 2,000th Ship

Photo: Ocean BlackLion, 2,000th Ship HHI Delivered

 Hyundai Heavy Industries (HHI) has become the world's first shipbuilder to deliver its 2,000th ship. The world's largest shipbuilding company delivered a drillship, "Ocean BlackLion," to U.S. oil drilling firm Diamond Offshore at the Ulsan shipyard Friday.  


Bahri Inks Contracts with Hyundai to Build 5 VLCCs

Picture: National Shipping Co. of Saudi Arabia (Bahri)

 The National Shipping Co. of Saudi Arabia (Bahri) signed contracts on Thursday with Hyundai Samho Heavy Industries (HSHI) to build five very large crude carriers (VLCCs), with an option for additional five more vessels, the company said in a bourse statement.  


USS George Washington Completes Carrier Qualifications

An FA-18E Super Hornet assigned to the Dambusters of Strike Fighter Squadron (VFA) 195 launches from the flight deck of the Nimitz-class aircraft carrier USS George Washington (CVN 73)

  Carrier Air Wing (CVW) 5 and the Nimitz-class aircraft carrier USS George Washington (CVN 73) completed its carrier qualifications (CQ), May 23. CQ allows CVW 5 pilots and George Washington's flight deck crew to prove accuracy and proficiency in successfully landing and recovering


Indian Prime Minister Visits HHI

Indian Prime Minister Narendra Modi at HHI (Photo: HHI)

Indian prime minister Narendra Modi visited Korean shipbuilder Hyundai Heavy Industries (HHI), seeking increased partnership between the India’s shipbuilding industry and HHI.   HHI is reportedly the only Korean company the prime minister visits during his two-day stay in the country


STX Bags Order for Eight LR1 Tankers

LR1 tanker. Image by STX Offshore & Shipbuilding

 South Korean shipbuilder STX Offshore & Shipbuilding (STX O&S) has won an order for up to eight LR1 tankers with a total value of $ 375 million.    The contract provides for the construction of four oil tankers of 74,000 tons plus the ability to build four additional ships


LNG Carrier for Osaka Gas Named LNG Mars

The LNG Venus, a sister ship to the LNG Mars

  Mitsui O.S.K. Lines, Ltd. today announced that the naming ceremony for a newbuilding LNG carrier for Osaka Gas Co., Ltd. was held at the Nagasaki Shipyard of Mitsubishi Heavy Industries, Ltd. The vessel was ordered by MOL and Osaka Gas International Transport, Inc


SINOPACIFIC Christens Newbuild Bulker

Photo: SINOPACIFIC

SINOPACIFIC Shipbuilding Group held a christening ceremony today at its Dayang Shipyard for a newly built Ultramax CROWN63R.   As the Godmother, Madam Grace Yang, the wife of former Chinese Ambassador to Greece christened this new vessel as SINICA GRAECA


Hapag Lloyd Back in the Black

Image: Hapag-Lloyd AG

 German container line Hapag-Lloyd has defied the challenging market environment in the containership market and returned to profit in the first quarter of 2015 euros as a stronger dollar and lower bunker prices helped to offset weaker freight rates.  


NYK Orders Three LNG Carriers

Mitsubishis Sayaringo STaGE LNG carrier

 Nippon Yusen Kabushiki Kaisha (NYK Line) has concluded time-charters for two new LNG carriers with Diamond Gas International, a Singapore affiliate of Mitsubishi Corporation.   NYK also concluded a contract with MI LNG Company Limited for the construction of the LNG carriers


Dry Bulk Carriers Orders "Drying” Up?

Graph: Clarkson Research Services Limited.

 Dry bulk orders have fallen to the lowest level since the 1990s to 0.4m dwt per month showing a massive 98% reduction from the 23m dwt peak in orders in December 2007, and probably the sharpest decline in recent decades.   


Daewoo Bags Big Maersk ULCS Order

Image: Daewoo Shipbuilding & Marine Engineering

 AP Moller-Maersk has returned to South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering for its latest series of ultra-large container ships (ULCS), reports The Korea Economic Daily.   The total contract to build 11 ultra-large containerships is worth US$1.7 billion


Cosco Corp Profit Down

Image: Cosco Group

 Cosco Corporation (Singapore) Limited, offshore marine engineering, shipbuilding, ship repair & conversion and dry bulk shipping group, has posted a net profit of SGD4.25 million (USD3.19 million), down 82% year-on-year for the first quarter that ended 31 March 2015.  






 
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