New Shipbuilding Orders
China Rongsheng Heavy Industries release financial results for the twelve months ended 31, December 2012. In 2012, the Group recorded approximately RMB 7.96 billion in revenue, a year-over-year decrease of 50% from RMB 15.9 billion. Losses attributable to equity holders of the Company were RMB 572.6 million, compared to earnings of RMB 1.7 billion in 2011. Mr. Chen Qiang, Chairman of the Board of Directors and Chief Executive Officer of China Rongsheng Heavy Industries, said: “The sluggish global shipping market continued to reduce new shipbuilding prices and deteriorate payment terms, as global new shipbuilding orders plunged to their lowest level in a decade. Under adverse market situation, constructions and deliveries in our core shipbuilding segment have suffered from delays, leading to a decline in our revenue." "Shipbuilding is the Group’s core business and its major revenue contributor. During the Period, revenue from the shipbuilding segment reached RMB 7.56 billion, representing 95% of revenue. According to Clarkson Research, global new shipbuilding orders decreased 44.5% year-on-year measured in deadweight tonnage (“DWT”), and new shipbuilding orders in China fell 45.2% year-on-year for the Period. New shipbuilding prices also suffered a drop of 9.2%. In response to the adverse market environment, we adopted a defensive sales strategy."
South Korean shipbuilders have ranked first in the world outpacing Chinese and Japanese rivals in terms of new orders in the third quarter of the year, reports Yonhap quoting Clarkson Research Services. South Korean shipyards bagged new orders totaling 2.11 million compensated gross tons (CGTs) last month, trailing Chinese shipbuilders at 3.48 million CGTs and Japanese companies with 2.36 million CGTs.
The world fleet of oil, chemical and gas tankers is predicted to continue to grow over the next five years, although at a much more sluggish rate than the previous five years, according to a Shipbuilding Market Report issued this month by Lloyd’s Register - Fairplay (LR Fairplay). The oil tanker fleet, which currently stands at 7,516 ships, is expected to grow by 1.9 percent per year over the next five years in terms of the number of ships. Deadweight ton (dwt) capacity will rise by 5
Mitsubishi Heavy Industries, Ltd. (MHI) has completed two shipbuilding contracts with Carnival Corporation & plc, for the construction of two large-sized cruise ships for Carnival's AIDA Cruises brand. Delivery of the two ships is scheduled for spring 2015 and spring 2016 from MHI's shipyard in Nagasaki. The shipbuilding contracts are subject to financing. The two 125,000 gross tonnage (G/T), 3,250 passenger ships will be the largest ever constructed for AIDA Cruises
Hyundai Heavy Industries (HHI) announce a successful demonstration of the world’s first ME-GI gas engine package test in combination with Hi-GAS. HHI’s independent LNG Fuel Gas Supply (FGSS) the 'Hi-GAS' system (Hyundai Integrated Gas Supply System) allows marine engines to use diesel and LNG for fuel. Hi-Gas system can be used in all types of vessel such as LNG carriers, containerships, and oil tankers
While South Korean shipbuilders are continuing to struggle for survival as the recession in the global shipbuilding market drags on, they have clinched new orders to build nine ships in the first four months of the year. Yonhap, quoting industry data, said that the S.Korean shipyards, led by Hyundai Heavy Industries Co., have clinched new orders to build nine ships, accounting for 5 percent of new shipbuilding orders placed around the globe.
MarketWatch has reported that Daewoo Shipbuilding & Marine Engineering Co. has received an order from a unit of Chevron Corp. (CVX) to build a drilling and production platform. The contract is the world's largest offshore plant order in terms of value and the facility's size, said Daewoo Shipbuilding in a statement. The plant will be delivered to Cabinda Gulf Oil Co. by the end of May 2009 and will be located at Angola's offshore oil field, Tombua-Landana, to produce 130
According to a Jan. 12 report from The Chosum Ilbo, Korean shipbuilders won new orders worth over $1b in the first 10 days of the new year, in a complete reversal of the situation last year. STX Offshore & Shipbuilding and Hanjin Heavy Industries delivered the good news on Jan. 11, and Daewoo Shipbuilding & Marine Engineering and Sungdong Shipbuilding & Marine Engineering won new orders earlier. Industry insiders said an overseas marketing drive in the second half of last year
China's Ministry of Industry and Information Technology reports that orders in first half 2012 are down by 50.3% year-on-year. The volume of handling orders was a mere 125.87 million DWT by the end of June, down 30.7 percent year-on-year, which can easily lead to the assumption that some shipbuilders will not be able to keep operating in the following months. "We have not received any new orders. If the situation continues
88 medium-size and large shipbuilding enterprises in China realized an aggregate gross industrial output value of RMB 163.0 billion ($26.3 billion) during the January-May period this year, up 5.5 percent year on year, says China Association of the National Shipbuilding Industry (CANSI). The aggregate shipbuilding output in China amounted to 15.48 million deadweight tons (dwt), up 18.9 percent year on year.
State-owned China Shipbuilding Industry Corp (CSIC) is undertaking a major restructuring as it grapples with an industry downturn, and it will be the largest restructuring among China's State-owned shipbuilders, the Beijing Business Today reported.
Huntington Ingalls Industries (HII) was awarded a $152 million contract for advance planning for the construction of the third aircraft carrier in the Gerald R. Ford class, Enterprise (CVN 80), named in honor of the U.S. Navy’s first nuclear-powered aircraft carrier, USS Enterprise (CVN 65)
Following the delivery of Harmony of the Seas on May 12 in Saint-Nazaire, the American group Royal Caribbean Cruises Ltd. signed an order for three additional vessels, one for its brand Royal Caribbean International (RCI ) and two brand Celebrity Cruises
In response to the Government of Canada’s announcement of a series of enhancements to strengthen the National Shipbuilding Strategy, Seaspan Shipyards’ president Brian Carter issued a statement commending the government’s efforts and reinforcing the shipbuilder’s role in
South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder by revenue, will slash more jobs and sell non-core assets as part of efforts to cope with shrinking orders, it said on Monday. The South Korean government has urged ailing industries to speed up restructuring efforts
Korean shipbuilders, who once dominated the global market, received zero orders in April, says Clarksons Research Services. A report in Korea JoongAng Daily says that out of the 31 orders placed in April worldwide, 18, or 48 percent of the total, went to Chinese shipyards
Vard Holdings Limited secured a contract for the design and construction of 15 Module Carrier Vessels for Topaz Energy and Marine. The vessels, of VARD 9 21 design, are specially developed by Vard Design to navigate the shallow river systems as they transport modules through the Russian
Presenting its financial results for the first quarter ended 31 March 2016 today Vard Holdings Limited announced a net profit of NOK 43 million for the period, as compared to a loss of NOK 226 million a year back. Over the past quarter, VARD had focused on efforts to grow in new markets while
Shipbuilder ASL Marine has secured a total S$156 million worth of contracts from its shipbuilding, shiprepair & conversion, shipchartering and dredging engineering divisions. The contracts secured are mainly from repeat customers in the region as well as in the Middle East
Beleaguered South Korean shipbuilders's total liabilities as of the end of last year for their 34 overseas affiliated companies have reached 5.3584 trillion won (US$4.65 billion), up 28.7% compared to five years ago, reports BusinessKorea.
Daewoo Shipbuilding & Marine Engineering Co. (DSME) has signed a business agreement with the Iranian government on operation and technology instruction for Iranian state-run shipbuilder Iran Shipbuilding & Offshore Industries Complex Co. (ISOICO), reports the Pulse.
Although many builder countries struggled to win new orders in 2015, yards in the Philippines, Vietnam and Taiwan managed to increase their combined share of global ordering to its highest level on record, says Clarksons Research.
Maritime Reporter & Engineering News visited Koichi Fujiwara, the newly installed Chairman and President of ClassNK, in his Tokyo headquarters for his insights on the global maritime market at large as well as the future direction and mandate of class.
Austal Limited welcomed Australian Prime Minister Malcolm Turnbull to the company’s Henderson, Western Australia shipyard, demonstrating the facility’s naval shipbuilding capabilities, innovation and export success.
South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has revealed an additional self-restructuring plan amid the falling shipbuilding orders. The company’s creditors, led by the state-run Korea Development Bank