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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


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


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


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


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


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


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


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.


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.   


Fincantieri Sign MoUs with Carnival & CSSC

Courtesy Fincantieri

  Fincantieri, the world leader in the construction of cruise ships, has signed two memorandums of understanding, respectively with Carnival Corporation, the world’s largest cruise line, and with China CSSC Holdings Limited, controlled by CSSC (China State Shipbuilding Corporation)


Steven Palazzo Visits HII, Newport

Steven Palazzo Visits Newport News Shipbuilding

  Huntington Ingalls Industries today hosted Rep. Steven Palazzo, R-Miss., for a tour of the company's Newport News Shipbuilding division. Palazzo represents the fourth district of Mississippi, which includes Newport News' sister shipyard, Ingalls Shipbuilding.


Sea Star Line: Equipment Replacement Plan on Track

Photo: Sea Star Line

Company Receives New Refrigerated Containers and Places Order for New Genset Equipment   Sea Star Line, LLC began receiving the first of its new 100 40’ and 45’ refrigerated containers ordered as part of its equipment replacement plan announced in August 2014


HHI to Build FSRU for Höegh LNG

A new Floating Storage and Regasification Unit (FSRU) will be built by the Korean shipbuilding Company Hyundai Heavy Industries (HHI). This FSRU will be the fifth in the series at HHI and the seventh in total owned by the Norwegian Company Höegh LNG.


JK Fabrication Wins Emergency Tow Reel Order

Photo courtesy of JK Fabrication

JK Fabrication (Nordic Machine) wins emergency tow reel order from Olympic Tug and Barge Olympic Tug and Barge, a Harley Marine Services Company, has selected four JK Fabrication emergency tow storage reels for new barges being built at Zidell Shipyard in Portland (the first two) and Vigor


Otto Marine 3Q2014 Earnings at $2 mi

Courtesy Otto Marine

 * Group revenue increased by 16.8% to US$ 96.8 million for 3Q2014, higher revenue across all the three business segments  * Offshore Chartering, as the major revenue and profit generator, registered higher profit even as overall market was weak


Texas Pilots Order Vessel from Gladding-Hearn

Sabine  Pilots in Port Arthur, Texas has ordered a new pilot boat from Gladding-Hearn Shipbuilding, Duclos Corporation. The pilots’ first launch, built by the Mass.-based shipyard, is scheduled for delivery in late 2015. With a deep-V hull designed by C


They Said It ... Paul N. Jaenichen, U.S. Maritime Administrator

Paul N. Jaenichen, Maritime Administrator

“In a large part driven by our country’s energy boom, the domestic shipbuilding industry is seeing robust activity, the most over three decades."   "Billions of dollars are being invested to meet the demands of oil production, and nearly 30 large, self-propelled


Wärtsilä Dual-Fuel Solution for Icebreaking LNG Carriers

Depiction courtesy Wartsila

The Daewoo Shipbuilding and Marine Engineering (DSME) yard in South Korea has ordered a total of 54 Wärtsilä dual fuel engines to power 172,600 cbm icebreaking LNG carriers being built for use in arctic conditions to serve the Yamal LNG project in Northern Russia.  


Seaspan's Vancouver Shipyard’s Modernization Complete

Vancouver Shipyard

  Today, Seaspan’s Vancouver Shipyards officially celebrated the completion of its two-year, $170M Shipyard Modernization Project ahead of schedule and under-budget. Funded entirely by Seaspan, this project has transformed Vancouver Shipyards into the most modern facility in North


Nerbovik Named CEO of Aker Philadelphia

Kristian Rokke

Aker Philadelphia Shipyard ASA announced that its board of directors has appointed Steinar Nerbovik as president and CEO of Aker Philadelphia Shipyard ASA effective today. Nerbovik has served as the company's managing director for the past seven months and was previously the company's senior vice


Port of Tallinn Orders Four Ferries

Four Ferries have been ordered

The Port of Tallinn has signed contracts with Remontowa Shipbuilding and Sefine Shipyard shipbuilding facilities for the construction of four new car-passenger ferry boats to be used on the lines between the mainland and major Estonian islands; two ferries are to be built by each shipbuilding


Shipbuilding: COSCO Warns of Struggle if Credit Tightens

COSCO Corp (Singapore) , part of one of China's largest shipbuilding groups, warned that its customers could struggle to pay their bills as funding costs rise, after posting sales on credit at their highest level in 11 years.   The Singapore-listed subsidiary of Chinese state-owned maritime


Oshima-built Grain Carrier Delivered in the US

Newly developed bulk carrier with MALS (Photo: MHI)

Today the first unit of a new bulk carrier developed by Mitsubishi Heavy Industries, Ltd. (MHI) was delivered to Archer Daniels Midland Company (ADM) of the U.S., following its completion at Oshima Shipbuilding Co., Ltd. of Nagasaki, an MHI licensing partner.






 
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