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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."


S. Korea Keeps Top Spot in Shipbuilding Beating China, Japan in Q3

Image: Hyundai Heavy

 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.  


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


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


Nine New Orders for South Korean Shipbuilders

Photo:  Hyundai Heavy Industries

 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.  


Samil PwC Okays Hyundai's Management Improvement Plan

Photo: Hyundai Heavy Industries

 Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement plan is good enough for HHI to make operating profits and secure liquidity even in the worst case scenario.   The announcement is the result of due diligence that had been conducted by Samil PwC for 10 weeks from May 23 this year at the request of HHI’s main creditor banks including the Export-Import Bank of Korea


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


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


Global Shipbuilders Discuss Market Downturn

From 19 till 20 October 2016, top executives from major shipbuilders from Japan, Europe, China, South-Korea and the United States met in Gyeongju (South-Korea) in the context of the 25th JECKU, to discuss the industry’s challenges in supply and demand and in addressing regulatory matters.   This year’s meeting took place under extraordinary circumstances, notably against a background of a global shipbuilding industry experiencing very harsh demand contractions


Höegh LNG, SHI Ink FSRU Deal

Courtesy Höegh LNG

Höegh LNG Holdings Ltd. has signed a Letter of Intent ("LOI") for one firm and three optional FSRUs at Samsung Heavy Industries (SHI) in South Korea. The 170,000 m3 FSRUs have regasification capacity of 750 MMScf/day and full trading capabilities


Höegh LNG Orders Four FSRUs at Samsung Heavy

Pic: Höegh LNG

 Norway’s floating liquefied natural gas company Höegh LNG has signed a Letter of Intent (LOI) for one firm and three optional floating storage and regasification units (FSRUs) at South Korea’s Samsung Heavy Industries (SHI).  


Japan to Overtake Korea in Global Shipbuilding

Photo: DSME

 Japanese shipyards are on the verge of overtaking Korean shipyards in remaining order backlogs and market share, reports Business Korea.   South Korean and Japanese shipbuilders recorded a backlog of 20.46 million CGT and 20.06 million CGT early this month, respectively


Gulfstream Wins DHS Ferry Contract

(Photo: Gulfstream Shipbuilding)

Custom Aluminum Ferry Designed and Built for Long Island Coast Waters   Gulfstream Shipbuilding won a contract through the United States Department of Homeland Security for a passenger/vehicle ferry to service the New York and Connecticut waters. This 118 x 27 x 10.75 ft


Iron Ore Carrier for Kobe Steel Named Shinzan Maru

ShinzanMaru, a newbuilding iron ore carrier that will sail under a long-term transport contract with Kobe Steel, Ltd.  Photo MOL

Mitsui O.S.K. Lines, Ltd. today announced that on October 27, a naming ceremony for the Shinzan Maru, a newbuilding iron ore carrier that will sail under a long-term transport contract with Kobe Steel, Ltd., was held at the Hiroshima Shipyard of Imabari Shipbuilding Co., Ltd.


Hyundai Heavy to be Split into 4 Firms

Shipbuilder to be split into four companies; spinoff is part of restructuring plan submitted to creditors. South Korea's Hyundai Heavy Industries is being split into four companies, with its non-shipbuilding businesses being spun off to improve management efficiency and competitiveness


Parker Bestobell Secures $5mln Contract

Photo courtesy of Parker Bestobell

Parker Bestobell Marine, a  supplier of cryogenic valves and part of Parker, a global leader in motion and control technologies, has secured a nine vessel order,  worth $5m, making it the single biggest order that the company to date.  


CNCo Christened MV Tunsin at Imabari Shipyard

MV Tunsin Photo CNCo

The China Navigation Company (CNCo) christened its last newbuild bulk carriers, MV Tunsin, on 16 November at the Imabari Shipyard in Japan. Tunsin is the 241st CNCo newbuilding and the 86th vessel in this series. CNCo ordered four handysize bulk carriers (Imbari38 loggers) from Imabari


Naming Ceremony for CNCo Newbuilding

Photo: The China Navigation Co.Pte.Ltd

 Following the naming of its new cement carrier, MV Aotearoa Chief, in New Zealand yesterday, The China Navigation Company (CNCo) christened its last newbuild, MV Tunsin, on 16 November at the Imabari Shipyard in Japan. Tunsin is the 241st CNCo newbuilding and the 86th vessel in this series


Canada Mulls Options to Fill Icebreaker Gaps

File photo: Canadian Coast Guard

Canada's Coast Guard mulls its options as it awaits the arrival of replacement icebreakers to its aging fleet. In order to maintain open tracks through ice, escort ships, free ice-beset vessels, break up ice in harbors, resupply isolated northern communities and protect them from flooding


Metal Shark to Expand its Franklin Shipyard

Photo: Metal Shark

Louisiana-based shipbuilder Metal Shark has announced an expansion project now underway at its waterfront shipbuilding complex in Franklin, La.   To accommodate increased production needs, Metal Shark is erecting a fully-enclosed 200’ x 80’ large vessel assembly building to


FORAN Expands User Base in Korea

Hansung Ship Eng. Power station (Photo: FORAN)

These are difficult times for the shipbuilding industry, in particular that of Korea, which faces its worst-ever order drought. Big, medium-sized and small shipbuilders are undergoing deep restructuring as a consequence of the workload downturn


NYK Procures 4,700 Refrigerated Containers

photo by NYK

NYK has placed an order for 4,700 additional brand-new 40-foot refrigerated (reefer) containers, and the delivery of the new containers commenced in November. NYK procured 5,500 of the same type of containers last year, and the average age of company’s fleet of over 40


James Murray Joins Gulfstream Shipbuilding Management Team

James Murray (Photo: Gulfsteam Shipbuilding)

Gulfstream Shipbuilding welcomes James Murray, a second generation boat builder and operator/owner, to the Sales Management Team. James is the son of Jim Murray, who originally opened the shipyard 35 years ago as Freeport Shipbuilding.  James built a variety of custom boats at the shipyard


Kalmar's First Order for Empty Container Handlers

Empty Container Handler Photo Kalmar

Kalmar received an order from the Port of Vienna's WienCont Container Terminal for three new twin lift capability empty container handlers. Delivery and start-up is set for April 2017.   The contract marks the first order of equipment from Kalmar's DCG80-100 empty container handler range






 
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