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New Shipbuilding Orders

China Rongsheng Report 2012 Revenue Cut by Half

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 Unveils Diesel Engine Dual-fuel LNG Package

HHIs FGSS Test Announcement: Photo credit Hyundai Heavy Industries

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


Weak but Steady Growth in Oil & Gas Tanker Fleet

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


Korea Shipbuilders Win Orders Worth $1B

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


MHI Receives Order for Two Cruise Ships

Pier Luigi Foschi, Chairman & CEO of Costa Crociere, (center) and Hisashi Hara, Director, Executive Vice President and General Manager of Shipbuilding & Ocean Development business of MHI (second from right) sign the contract.

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


Yangtze River Delta Shipbuilders Floundering

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


Daewoo Gets Offshore Platform Order from Chevron

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


CSSC Profits Boom

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.


SMM Set for Hamburg

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


China Targets Shipbuilding Sales of $189 Billion By 2015

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


DSME Returns for More Dual-Fuel Engines

5G70ME-GI (Eric Haun).jpg

MAN Diesel & Turbo received an order for four MAN B&W 5G70ME-GI engines in connection with Daewoo Shipbuilding & Marine Engineering Co.,Ltd. (DSME) agreeing a deal with the BW Group to build two LNG carriers. The technical engine specification complies with IMO Tier II


Fincantieri Wins Carnival Cruise Ship Order

 Fincantieri SpA

 Fincantieri SpA has been awarded an order by Carnival Corporation & plc for the construction of two new cruise ships for Carnival Cruise Line and Holland America Line. Both will be sisters ships respectively to Carnival Vista and Koningsdam


NSRP Awards $11m for R&D Project Portfolio

The Executive Control Board of the National Shipbuilding Research Program (NSRP) has selected a new round of research and development projects for award, as part of the program's continuing mission to reduce costs associated with U.S. shipbuilding and ship repair


Mitsubishi Considers Splitting Off Shipbuilding Arm

Japan's Mitsubishi Heavy Industries Ltd (MHI) said on Wednesday it was considering a range of options for its shipbuilding business, including splitting it off into a separate company. The comment follows a report in the Nikkei business daily that it was looking at splitting off part of its


ICS Addresses OECD Shipbuilding Working Party

The OECD should be cautious about becoming involved in the question of what constitutes an ‘eco-ship’, the International Chamber of Shipping (ICS) said to governments in Paris today at a meeting of the OECD Working Party on Shipbuilding.   


MHI Completes Development of "Sayaringo STaGE"

[Sayaringo STaGE a next-generation LNG carrier]

  Mitsubishi Heavy Industries, Ltd. (MHI) has completed development of the "Sayaringo STaGE," a next-generation LNG (liquefied natural gas) carrier. The Sayaringo STaGE was developed as a successor to the "Sayaendo1," the company's highly acclaimed LNG carrier evolved


Rolls-Royce Bags £12 mi Order from Myklebusthaug Management

ROLLS-ROYCE SECURES CONTRACT FOR FIRST OFFSHORE VESSEL TO BE BUILT IN TURKEY

  Rolls-Royce has won a £12 million order to provide design, integrated power and propulsion systems and equipment for a highly advanced multipurpose service vessel for the Norwegian ship owner Myklebusthaug Management to be built at the Beşiktaş Shipyard in Turkey.


Interview: Matthew Paxton, President, Shipbuilders Council Of America

Matthew Paxton

The U.S. commercial maritime industry is enjoying its most robust period in a generation, with a spate of newbuild activities spurred largely by a resurgent energy production market in the U.S. as well as new rules of vessel emissions which has forced owner to invest in new tonnage


Horizon Delivers 2 Towboats to FMT

John Cox

  Horizon Shipbuilding Inc. recently delivered two towboats to Florida Marine Transporters. The towboats are the 120’ GIANNA HULL and the 80’ JOHN COX. This is the third vessel Horizon has delivered to Florida Marine Transporters this year.


Oz For a Sustainable Naval Shipbuilding Industry

Defence Minister Senator David Johnston

  Senator David Johnston, the Australian Minister of Defence announced about the government's was committed to creating a sustainable naval shipbuilding industry. He informed that the Government would be investing in a safe and secure Australia.  


Nordic American Tankers Announces Newbuild Plan

Two new Suezmax newbuilding tankers increase NAT's fleet size to 24 vessels. Nordic American Tankers Limited (NAT) has announced that it has entered into a preliminary agreement with Sungdong Shipbuilding & Marine Engineering Co., Ltd


Kawamura is SENER's Japan Region Manager

Koji Kawamura

The engineering and technology group SENER has appointed Koji Kawamura as Country Manager for Japan. Koji Kawamura is a professional with wide experience in marine software and in project and business management.   Kawamura assumes this position with the objective of managing SENER office


Tallink, Meyer Turku Ink LOI for New LNG Fast Ferry

SHUTTLE_NEW web.jpg

The trend toward the procurement of high-spec, environmentally friendly vessels continues with news that AS Tallink Grupp and Meyer Turku Oy signed a Letter of Intent (LOI) for the construction of an environmentally friendly car-passenger ferry for Tallinn-Helsinki route shuttle operations


Amin Named VP, CIO at Newport News Shipbuilding

Bharat Amin (HII photo)

Newport News Shipbuilding appoints Bharat Amin to vice president and chief information officer   Bharat Amin has been appointed vice president and chief information officer for the Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division, the company announced.  


Bill Secures Funding for US Warship

The United States Senate voted 56-40 to pass bill H.R. 83 which funds the federal government for the remainder of the fiscal year. The funding ensures the construction of a 12th LPD-17 amphibious ship at Ingalls shipbuilding in Pascagoula, Mississippi.  






 
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