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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


Hogan Named VP at Newport News Shipbuilding

Rob Hogan (HII photo)

Rob Hogan has been appointed vice president of manufacturing at the Newport News Shipbuilding division of Huntington Ingalls Industries (HII), the company announced.   Hogan began his career in 1976 as a welder. Since then, he has held leadership positions at all levels of production and


Imabari Bags Order for 11 ULCCs

CONTAINER CARRIER COURTESY Imabari Shipbuilding

  Imabari Shipbuilding Co., Ltd. (Imabari), with the cooperation of Marubeni Corporation, has secured newbuilding order for eleven (11) units of 20,000TEU Ultra-Large Container Carriers, the largest type container carriers in the world as of today.


Imabari to Construct Newbuilding Dry Dock

  In order to accommodate construction of Ultra-Large newbuilding vessels including recently secured 20,000TEU Mega container ships (about 400m in length and about 59m breadth), Imabari Shipbuilding Co., Ltd. has decided to construct a large newbuilding dry dock of about 600m length x 80m


Imabari to Build 20,000TEU Containerships

Imabari Shipbuilding Co., Ltd. announced it has secured newbuild orders with the cooperation of Marubeni Corporation for 11 units of 20,000TEU Ultra-Large Container Carriers, the largest type containerships in the world as of today. The new ships


Saab, Damen Jointly Pursue Submarine Contracts

Photo: MCD

Saab, Damen ink partnership agreement to pursue prospects in the international submarine market Swedish defense and security company Saab has partnered with Dutch shipbuilder Damen Shipyards to explore future opportunities in the international submarine market


W&O Opposes McCain Amendment

John McCain (official photo)

W&O announced its opposition to the McCain Amendment (amendment #2) to S.1, which it said would cripple the U.S. shipbuilding industry by striking the U.S. build requirement provisions of the Jones Act.   “The amendment Senator John McCain has put forth would devastate


Vane Brothers Orders Two Tugs from Chesapeake

Sister ship to Hull 123 and 124 (Photo courtesy of Chesapeake Shipbuilding)

Chesapeake Shipbuilding has signed a contract with Vane Brothers to build two new tugs, marking the 13th and 14th tugs that Chesapeake will have built for Vane Brothers in the last several years. The two new tugs will fit into Chesapeake’s existing order book


Congressmen Lead Effort to Defend US Shipbuilders

Photo courtesy of Huntington Ingalls Industries

Congressman Joe Courtney (CT-2) and Congressman Steven Palazzo (MS-4), along with 30 bipartisan House colleagues, sent a letter this week to Senate leadership urging opposition to an amendment that they say would strip domestic construction requirements that help strengthen America’s


Shipbuilding, Repair and Conversion: Brazil's Quick Fix

Vard Promar shipyard in Pernambuco at night. (Photo: Vard Promar)

The growth trend continues in the Brazilian shipbuilding industry, a trend that has been relatively constant during the last five year. While shipbuilding is ‘ship shape,’ the reality of the Brazilian ship repair industry is somewhat muddled


MOL’s Newbuilding Yahagi Maru Delivered

Shin Yahagi Maru

Mitsui O.S.K. Lines, Ltd. today announced the delivery of the coal carrier Shin Yahagi Maru, which will serve Chubu Electric Power Co., Inc. The vessel was delivered at Imari Shipyard and Works of Namura Shipbuilding Co., Ltd.  on January 22, 2015.


Maran Orders 4 LNGCs from DSME

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) will build four large Liquefied Natural Gas Carriers (LNGC) for Maran Gas.   The four LNGCs are expected to be delivered between 2017 and 2019 and will be built with the NO96-GW technology


Irving Celebrates Canadian AOPS Build Contract

Photo: Irving Shipbuilding

Government of Canada & Irving Shipbuilding mark signing of $2.3 billion AOPS build contract; 3,600 Jobs across Canada generated from Irving’s NSPS commitments to gate    The Government of Canada joined Irving Shipbuilding and its employees today marked the signing of the $2


China Exim Bank, SWS Sign $312m Financing Deal

Picture Courtesy: Shanghai Waigaoqiao Shipbuilding

Shanghai Waigaoqiao Shipbuilding  (SWS), a  yard owned by the industrial conglomerate China State Shipbuilding Corp (CSSC), has secured a US$312million loan from the Export-Import Bank of China to build three 18,000 teu containerships. 


DSME Building 5 Icebreaking LNGCs for Yamal

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is building five large Arctic Liquefied Natural Gas Carriers (LNGCs), for which it has LNG ordered membrane containment systems from designer GTT.   These five ARC 7 LNGCs for Yamal Trade are expected to be delivered


Mitsui Orders 2 LNG Carriers from MHI

Moss-type tanks

Mitsubishi Heavy Industries, Ltd. (MHI) reports it has received an order for two next-generation LNG (liquefied natural gas) carriers from Mitsui & Co., Ltd., scheduled for completion and delivery in 2018 and 2019, respectively. They will be put into service for the Cameron LNG Project






 
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