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."
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
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
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
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
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
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
China State Shipbuilding Corp (CSSC) profits almost tripled last year as it boosted output and improved production efficiency, according to chinadaily.com. Net income surpassed $1.93b last year, skyrocketing from 5.2 billion yuan in 2006. It finished 6.55 million deadweight tons of vessels in the past year and received a record order of more than 23 million dwt of ships worldwide, which put its overall amount for orders yet to deliver beyond 50 million dwt.
At the beginning of 2008, the order book was estimated by the British shipbuilding market experts of Lloyd's Register - Fairplay (LRF) at 10,055 ships ordered, and 329.7m gross tons (GT). By the beginning of July those figures were up more than 10 percent to 11,200 newbuildings and 363 million GT – a new high. So the maritime equipment suppliers among the total of 1,950 exhibitors from 55 nations will have full order books to show at SMM 2008
SHANGHAI -- China aims to increase annual sales by domestic shipbuilders to $189.7 billion by 2015, as it works toward its goal of becoming the world's leading shipbuilding country, the Ministry of Industry and Information Technology said. China also plans to raise the value of annual shipbuilding exports to more than $80 billion by 2015, the ministry said, in a five-year plan for the shipbuilding industry. The plan provides new details regarding China's push for significant growth
Hy-Line Cruises, a division of Hyannis Harbor Tours, Inc., Hyannis, Mass., has ordered a new 493-passenger, high-speed catamaran from Gladding-Hearn Shipbuilding, the Duclos Corporation. The fourth Incat-Crowther fast ferry built by the Mass
In the EU journal Parliament, Portuguese Member of European Parliament João Ferreira has proposed a five-point plan to stimulate growth in the EU shipbuilding industry. He said that after a decline in industrial activity since the 1970s
OJSC Magnitogorsk Iron and Steel Works (MMK) supplied 78,000 metric tons of metal products to shipbuilders in 2014, which represents a 37.2% growth year-on-year. MMK supplies up to half of all metal products sold to the Russian shipbuilding industry
Singapore Technologies Engineering Ltd reported today its full year financial results ended 31 December 2014 (FY2014) with a Group revenue of $6.54b compared to $6.63b as reported for FY2013. Profit before tax (PBT) of $650.7m was $79m or 11% lower year-on-year compared to $729
Five new 14,500 TEU container vessels being built for China Ocean Shipping Group (COSCO) will be powered by 20 Wärtsilä Auxpac 32 generating sets. The ships are under construction at the Hudong-Zhonghua Shipbuilding Group yard in China
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has placed an order with Gaztransport & Technigaz (GTT), designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG)
Myanma Shipyards will link up with a Vietnamese shipbuilder to form a joint venture company. The agreement between the Ministry of Transport’s Myanma Shipyards and Dong A Shipbuilding Industry Joint Stock Company is inked.
Eastern Shipbuilding has donated $250,000 for the construction of the National Coast Guard Museum in New London, Connecticut, the National Coast Guard Museum Association announced yesterday. Eastern Shipbuilding, a diversified ship builder headquartered in Panama City, Florida
Singapore-based ASL Marine's profits for the second quarter ended 31 December 2014 dived 78.4% year-on-year to SGD1.432 million (USD1.05 million). Revenue also plunged 86% year-on-year to SGD47.44m due mainly to a revenue reversal of SGD95m recognized in the previous financial years
Yangzijiang Shipbuilding (Holdings) Limited “Yangzijiang” or “the Group” one of PRC’s leading and most enterprising shipbuilder listed on the SGX Main Board, is pleased to announce that the Group has secured new shipbuilding orders from JHW Engineering &
T.S. Lines, Taiwan's fourth largest container carrier, is seeking to restart its dormant shipbuilding plan in 2015, the company announced Monday. In 2011, the company suspended a plan to order four 1,800 teu and four 4,700 teu box ships due to the belief that new building prices would
Irving Shipbuilding's partnership with Women Unlimited provides community college funding and job opportunities at Halifax Shipyard Irving Shipbuilding has partnered with Women Unlimited to provide education funding and job opportunities to 20 women who will participate in the welding and
The shipping ministry of India had circulated a draft policy note seeking comments from various ministries ahead of its submission to the cabinet. But the finance ministry headed by Arun Jaitley is yet to offer its comments on the note, says a report in the Livemint
The U.K. Ministry of Defense has signed a $1.3 billion contract with BAE Systems for equipment to build the next generation of warships for the British navy, Prime Minister David Cameron announced today. BAE Systems has been working on plans to provide Britain with 13 new warships since 2010
Malaysia’s MISC Bhd and parent Petroliam Nasional Bhd (Petronas) have agreed to build new liquefied natural gas (LNG) carriers worth US$1.1 billion and charter them to another unit owned by the national oil and gas company for up to 20 years.