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Korean Shipbuilders Place in Top 10 for June Orders

Korean shipbuilders occupied seven out of the top 10 positions in the world last month in terms of orders. Hyundai Heavy Industries was the world’s largest shipyard in terms of order backlog as of late June with 11.74 million compensated gross tons (CGT), British shipbuilding market researcher Clarkson reported. Samsung Heavy Industries came second with an order backlog of 8.27 million CGTs, followed by Daewoo Shipbuilding & Marine Engineering (DSME) with 7.41 million CGTs and Hyundai Mipo Dockyard Co., one of two Hyundai Heavy Industries subsidiaries, with 4.11 million CGTs. Created after a merger of two shipyards in Dalian, China’s Dalian Shipbuilding Industry Corp. made a huge leap up the list to take fifth place with 2.84 million CGTs, beating Korean rivals Hyundai Samho Heavy Industries Co., the other Hyundai Heavy subsidiary, STX Shipbuilding Co. and Hanjin Heavy Industries & Construction Co. Another Chinese shipyard, Shanghai Waigaoqiao Shipbuilding Co. ranked 10th with 1.84 CGTs. The combined order backlogs of seven Korean shipyards were 39.15 million CGTs as of late June, accounting for a 34.5 percent share of the global total worth 113.64 million CGTs. (Source: Chosun Ilbo)

Orders at Korea's 3 Big Shipyards to Break $30B

Korea's three major shipbuilders are expected to draw in orders worth $30 billion this year, according to a report on Reports put orders for Hyundai Heavy Industries at $13 billion, Samsung Heavy Industries at $10-11 billion, and Daewoo Shipbuilding and Marine Engineering at $10 billion. Samsung Heavy Industries won the most number of orders as of March with four liquid natural gas tankers, one floating production storage, one offloading vessel

Hercules of Korean Shipbuilding

Photo courtesy of Samsung Heavy Industries

Samsung Heavy Industries use 'Megablock' techniques to create ever larger blocks & minimize shipbuilding assembly works Samsung Heavy Industries recently achieved a new milestone, successfully carrying a block that weighed as much as 9,283 tons – quivalent to the combined weight of 133,000 adults of average weight, this is the heaviest block ever built in the global shipbuilding industry.
 Building gigantic structures of the size of apartment buildings or bigger

Kawasaki Heavy Industry, Chinese Co. To Set Up Shipyard

As Beijing looks to boost ship exports, Japan's Kawasaki Heavy Industry Ltd is likely to join state-run China Ocean Shipping Group to set up a $96.8 million shipyard in east China. The shipyard, a 50-50 joint venture, will design and build vessels of at least 160,000 dwt. There are also reports that South Korea's Samsung Heavy Industries Ltd is expected to set up a wholly-owned shipyard in China.

China Shipyard Denies Stories on Vale's VLOC Orders

China Rongsheng Heavy Industries denies a report distributed by Jinji Cankao Bao on its VLOC newbuildings for Vale S.A. China Rongsheng Heavy Industries Group Holdings Limited offically denies the false report of “Vale declined to receive three VLOCs built by Rongsheng Heavy Industries” distributed by Jinji Cankao Bao. In order to benefit shareholders, ship-owners and ourselves, the Group always takes swift and necessary actions on clarifying unfounded rumors in the market

Hyundai, Samsung Clash in Drillship Market

According to a report from the Korean Herald, the competition in the market for drillships is heating up with Hyundai Heavy Industries Co. threatening Samsung Heavy Industries Co.’s dominance. Hyundai Heavy has turned its eyes to the market in recent years. The company’s first drillship was delivered late last year and Samsung Heavy has lost its place at the top of the drillship market to Hyundai Heavy.   Source: The Korean Herald

Hyundai Heavy Leads Gains Among Korean Yards

According to a June 21 report from Bloomberg, Hyundai Heavy Industries Co., the world’s largest shipbuilder, led advances among shipyards in Seoul trading on expectations that a stronger yuan will help improve their price competitiveness against rivals in China. Hyundai Heavy climbed 4.9%t to close at 236,000 won, the highest price since May 12. Samsung Heavy Industries Co., the world’s biggest maker of drill ships, gained five percent to 24,200 won.

Australian Company Mulls DHI Stake

South Korea's Daewoo Heavy Industries has received a letter of intent from Australia's New Castle Heavy Industry expressing interest in taking a stake in its shipbuilding unit. While exact terms of the potential deal are not yet available, it is believed that DHI would be willing to sell up to a 30 percent stake. The world's second largest shipbuilder is one of 12 debt-laden Daewoo Group firms that creditors hope to reform and sell off

Korean Shipyard Wins LNG Carrier Contracts

LNG Carrier: Photo credit Wiki CCL Wolfgang Meinhart

Hyundai Heavy Industries (HHI) & its affiliated shipyard obtain orders totalling US$1.05 billion to build five liquefied natural gas (LNG) carriers. One of the LNG carriers of 155,000-cubic-metre capacity and worth US$210 million is for Brunei Gas, reports the Oman Daily Observer. HHI's affiliated shipyard, Hyundai Samho Heavy Industries, also won a contract for four 174,000-cubic-metre LNG carriers valued at $840 million from Greece’s Maran Gas

Korean Shipbuilders' Orders Halved

Orders won by major South Korean shipbuilders halved in the first six months of 2012 from a year ago According to a 'Yonhap News Agency' report, the country's three biggest shipbuilders -- Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. -- clinched orders worth a combined US$17.3 billion during the January-June 2012 period, down 50.8 percent from a year earlier.

Korean Shipbuilders in Red

Photo: Samsung Heavy Industries

 South Korean shipbuilders are struggling with huge losses stemming from the delivery of low-priced ships and a delay in the construction of offshore facilities such as drill ships.   The shipbuilders' earnings are expected to remain in the doldrums until the first half of 2016

TMS Cardiff Gas Orders First LPG Carriers

Courtesy TMS Cardiff Gas

  TMS Cardiff Gas Ltd. has signed a contract with Hyundai Heavy Industries of Korea for the construction of two 78,700 cbm LPG carriers with the option to build another two. The vessels are scheduled for delivery in Q2 and Q3 2017, when they will enter into time charter contracts with Shell

Hapag-Lloyd Secures Financing for Five Newbuilds

The new ships are being built by the South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI). (Photo Hapag-Lloyd)

Container shipper Hapag-Lloyd announced it has signed a 12-year $372 million facility agreement with a banking syndicate to finance the construction of five new vessels ordered from a South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) in April 2015.  

Japan Renews Submarine Bid for Australia

Japan looking to fix faltering Australian submarine bid. Japan is ready to match European rivals and build a fleet of submarines for Canberra entirely at Australian shipyards, a senior Japanese official said on Tuesday, after stumbling in its effort to win the A$50 billion ($34

Danaos buys 3 Boxships via new JV

Photo Danaos Corporation

  Danaos Corporation announced today the acquisition of three vessels through a newly-formed joint venture, capitalizing on depressed asset prices in the resale market. The vessels were acquired by Gemini Shipholdings Corporation, a newly-formed entity ("Gemini") beneficially

NOCC Opts for Optimarin BWT System for Its Newbuild


  Ballast water treatment (BWT) specialist Optimarin has been chosen by Norwegian Car Carriers AS (NOCC) as the supplier of choice for its two newbuild vessels currently under construction at Hyundai Samho Heavy Industries in South Korea

GTT Receives 3rd FSRU Order of 2015

GTT, a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), announced it has won a new order for a floating storage and regasification unit (FSRU) from the Korean shipbuilder Samsung Heavy Industries.  

MHI's Two New Firms Commence Operations

MHI Shipyard, Nagasaki Credit Wiklpedia CCL

  On October 1 two new wholly owned group companies of Mitsubishi Heavy Industries, Ltd. (MHI) succeeding to MHI's ship construction operations in the Nagasaki district will commence business operations. Mitsubishi Heavy Industries Shipbuilding Co., Ltd

MacGregor Cargo Handling for HL Newbuilds

Image: MacGregor

 MacGregor has received an order worth USD 21 million for optimised cargo handling systems for five 10,500 TEU container ships currently under construction at South Korean shipyard Hyundai Samho Heavy Industries for German operator Hapag-Lloyd.  

GTT’ Mark V Earns DNV GL General Approval

GTT, a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), announced that its new containment system Mark V has been granted General Approval for Ship Application (GASA) by classification society DNV-GL.  

Australian Leader Swap Weakens Japanese Sub Bid

The ouster of Australian Prime Minister Tony Abbott has further weakened a Japanese bid for one of the world's most lucrative defence contracts, a A$50 billion ($36 billion) programme to build stealth submarines for Australia, sources say.

Maersk Orders 9 Tankers from Samsung Heavy Industries

Maersk Tankers, a unit of Danish conglomerate A.P. Moller-Maersk, has placed a $300 million order for nine medium-range tankers from Samsung Heavy Industries' Ningbo shipyard in China. The nine vessels, whose flag states have yet to be determined

Kalmar, RCI JV Begin Jetty Construction in Taicang, China

RCI jetty ground breaking ceremony

  Kalmar, part of Cargotec, and Rainbow-Cargotec Industries Co., Ltd (RCI) celebrate the ground breaking of a new jetty at RCI's facilities in Taicang, China today.   RCI is a joint venture established in Taicang, Jiangsu Province, China

Samsung Companies Consider Merger Again

Image: Samsung Engineering

 South Korean shipbuilder Samsung Heavy Industries Co will try again to merge with sister company Samsung Engineering Co Ltd later this year, reports Korea Times.   Samsung Engineering CEO Park Jung-heum has said he will once again pursue a merger talk.  

Seadrill Cancels West Mira Construction Contract

Offshore drilling company Seadrill Limited said it has exercised its right to cancel the contract for the construction of the West Mira drilling unit following builder Hyundai Heavy Industries Co Ltd.’s inability to complete the project on deadline.  

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