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Orders Worth News

12 Dec 2022

Chinese Shipyards Feast on Record LNG Tanker Orders as S.Korea Builders Fully Booked

©donvictori0/AdobeStock

China is making fast inroads in the market for newbuild liquefied natural gas (LNG) tankers as local and foreign shipowners turn to its shipbuilders for the specialty vessels because long dominant yards in South Korea are fully booked. Three Chinese shipyards - only one of them having experience building large LNG tankers - won nearly 30% of this year's record orders for 163 new gas carriers, claiming ground in a sector where South Korea usually captures most of the business.

23 May 2022

SOS (Save our Shipbuilding): Germany’s VSM Calls for Reduction of Dependence on China

Copyright Christian Horz/AdobeStock

As the geopolitical landscape continues to quickly transform with the Russia/Ukraine war, Europe's over-dependence on Russian energy has become painfully apparent. VSM – the German Shipbuilding and Ocean Industries Association that represents the political and commercial interests of the German maritime over a diversity of maritime market segments – issued the following statement and overview of the global shipbuilding market, highlighting how highly subsidized shipbuilding markets…

03 Aug 2021

Shipbuilding: Yangzijiang Shipbuilding Inks New Orders Worth $1.58B In July

Yangzijiang Shipbuilding Holdings Ltd. reports new orders for 12+5 vessels worth $1.58B in July, and an LOI for another five dual-fuel 7,000 TEU containerships which is expected to take affect in August.(Reuters)

10 Jun 2021

Fincantieri Taps Somec for Glass Enclosures on Nine Cruise Ships in Order Worth $121,8M

File Image: Somec

Italian company Somec has secured new orders worth 100 million euros (~$121,8 million) from Fincantieri to equip nine newbuild cruise ships.The contract, secured by Somec's Seascape division – Marine Glazing and Marine Public Area segment - is for turn-key glass enclosures and public areas projects in the Italian shipyards of Marghera, Monfalcone, and Ancona for nine new-build ships to be delivered between 2022 and 2028. The contract includes additional options worth 40 million euros (~$48…

05 Jan 2020

DSME Targets $6.8Bn in Deals for 2020

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co (DSME) is targeting deals worth more than $6.88 billion in 2020, said a report by Yonhap.DSME received an additional order of six container vessels worth 891.8 billion won (US$768 million) from an African client on Dec. 27. DSME will deliver the vessels to their owner by the end of October 2022.The world's second-largest shipbuilder by order backlog won orders worth $6.88 billion to build 39 vessels, achieving 82 percent of its annual order target of $8.37 billion in 2019.The 39 ships includes 10 LNG carriers, 10 super-large crude oil carriers, 11 container ships, two LPG carriers…

05 Jan 2020

HHI Projects a Revenue of $15.9Bn in 2020

South Korean shipbuilder Hyundai Heavy Industries (HHI) Group, which includes the world's largest shipyard, aims for a revenue of USD 15.9 billion in 2020.Yonhap News Agency said the combined target of Hyundai Heavy Industries Co., Hyundai Samho Heavy Industries Co. and Hyundai Mipo Dockyard Co. remains unchanged from last year’s goal.HHI said it aims to bag $8 billion worth of deals in 2020, according to the report.Hyundai Mipo Dockyard said in a regulatory filing that it aims to clinch deals worth $3.65 billion this year.In 2019, Hyundai Mipo Dockyard won orders worth $2.7 billion, achieving 76 percent of its annual order target of $3.53 billion.Hyundai Samho Heavy Industries said it aims to secure orders worth $4.25 billion this year.

30 Dec 2019

DSME Wins $771M Order for 6 Box Ships

South Korean shipbuilding and offshore contractor Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) has secured a 891.8 billion-won (US$771 million) order to build six container ships.According to Yonhap, the world’s second-largest shipbuilder by order backlog will deliver the ships to an unidentified client in Africa by October 2022 under the deal.With the latest deal, Daewoo Shipbuilding has won orders worth $6.88 billion for 39 vessels so far this year, achieving 82 percent of its annual order target of $8.37 billion.The 39 vessels include 10 LNG carriers, 10 super crude oil carriers, 11 container ships, 2 super LPG carriers, 5 submarines, and 1 offshore plant.

30 Dec 2019

HHI Wins $293M Newbuild Order

South Korean shipbuilder Hyundai Heavy Industries (HHI) Group said that its two affiliates have clinched two deals worth 340 billion won (US$293 million) in total to build six vessels.Hyundai Mipo Dockyard (HMD), a unit of HHI, has won a KRW 110 billion ($100m) newbuilding order for four units of 1,800 TEU container carriers from Taiwanese shipping line Evergreen Marine Corporation.The boxships will be built to the Con-Green design developed by HMD in conjunction with Man Energy Solutions and DNV GL in HMD’s Ulsan shipyard in phases starting 2021.In a separate deal, another affiliate, Hyundai Samho Heavy Industries Co., an affiliate of HHI…

26 Dec 2019

Scrubber, BWTS Retrofits Drive Keppel in 2019

Photo: Keppel Offshore & Marine Ltd.

Scrubber and ballast water treatment system refits have helped to maintain brisk business at shipyards globally, as shipowners upgrade ships to meet regulatory mandate. In Singapore, Keppel Offshore & Marine Ltd. reports that it has won 104 scrubber and BWTS retrofit orders worth a combined value of $118 million year-to-date, bringing the total number of retrofit projects secured to date to 108 scrubber and 97 BWTS projects.“Installation of scrubbers and BWTS can be highly complex and there has been strong demand worldwide to meet regulatory deadlines…

20 Dec 2019

Shipbuilder Wins $1.13B Orders for 6 Ships

South Korean shipbuilding giant Hyundai Heavy Industries (HHI) has secured orders for a total of six liquefied natural gas (LNG) carriers from European and Asian shipowners, totaling $1.13 billion.The ships - four LNG carriers for a European client and two others for an Asian shipping company - will be installed with a dual-fuel propulsion system to enhance efficiency and reduce toxic gas emissions.Four of the vessels for the European owner will be built by Hyundai Samho Heavy Industries while the remaining two will be built by Hyundai Heavy Industries.According to Yonhap, all six vessels will be capably capable of transporting 174,000 cubic meters of LNG…

09 Dec 2019

Daewoo Wins Aggelikousis Order for 3 Ships

South Korean shipbuilding major Daewoo Shipbuilding & Marine Engineering Co (DSME) said that it has secured a US$380 million order to build three vessels from Angelicoussis Shipping Group (ASGL), the Greek provider of marine shipping services.DSME will build a liquefied natural gas (LNG) carrier for Maran Gas Maritime Inc. and two very large crude carriers (VLCCs) for Maran Tankers Management Inc.Maran Gas Maritime and Maran Tankers Management are subsidiaries of Angelicoussis Shipping Group.According to a report in Yonhap, the LNG carrier will be guilt by DSME with a capacity of 174,000 cubic meters will be delivered by the first quarter of 2022.Two 318…

10 Nov 2019

SHI Losses Widen

South Korean Samsung Heavy Industries (SHI) reported its third-quarter net loss of 583.2 billion won (US$ 503.8 million), compared with a KRW80.30 billion loss in the same quarter a year earlier, staying in the red compared with a year ago.The loss widened sharply in the wake of a cancelled shipbuilding deal. Mitsui Ocean Development & Engineering Co. (MODEC) was recently selected as the floating production, storage and offloading (FPSO) unit supplier for the Barossa Project in Australia. The FPSO part of the project alone is estimated at US$1.5 billion.Earnings were also hurt as Transocean Ltd. (RIG) said in September a pair of its…

17 Oct 2019

SGRE Scores 360MW Chilean Wind Power Gigs

Siemens Gamesa Renewable Energy (SGRE) has signed three contracts to supply turbine orders worth 359MW to undisclosed customers in Chile.With the new orders, SGRE reached 640MW of turbine orders in Chile for its 2019 financial year, the best yet for the company in the country.The contracts bolster SGRE’s leadership position in the Chilean market, and the wind power generated by these turbines will provide enough clean, reliable and affordable electricity to cover the demand of over 900,000 people. This in turn will significantly contribute to Chile’s ambitious decarbonization program, including the closure of 28 coal-fired plants.The latest three contracts cover the installation and commission of 82 SG 4.5-145 turbines with flexible power rating…

09 Oct 2019

Ferretti New Order Book Touches $510Mln

The Ferretti Group announced that it has gained new orders worth $510.1 million (465 million euros) during the first nine months of the year, up 18 percent compared to the same period in 2018.The Italian boatbuilder said in a press statement that its Wally brand helped increase its order book. It also signed contracts for 16 coastal patrol boats in its Ferretti Security Division."These positive results have benefited from the launch of five new models under our Riva, Pershing, Ferretti Yachts and Custom Line brands, as well as from the relaunch of the Wally brand, which we acquired in April this year. In particular, our first serial model under the Wally brand…

14 Jun 2019

French, Italian Shipbuilders Forge Naval Alliance

(Photo: Fincantieri)

France and Italy forged a military shipbuilding alliance on Friday, as state-controlled Naval Group and Fincantieri signed off on a 50-50 joint venture that will bid for Franco-Italian warship projects and sell to the world market.The alliance reflects the two countries' desire to fend off competition in naval shipbuilding from the likes of China, the United States and Russia.It is targeting orders worth up to 5 billion euros ($5.63 billion) over the next decade. Naval Group said the joint venture aims to build 10-15 warships in that period…

12 Apr 2019

DSME to Build LNG Carrier for Maran Gas

South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co (DSME) said  that it has secured a deal to build a liquefied natural gas (LNG) carrier from Maran Gas Maritime Inc.DSME is expected to deliver the 174,000-cubic meter LNG ship during the first quarter of 2022 to  Maran Gas, the gas shipping unit of Angelicoussis Shipping Group, said a report by Yonhap.The deal is estimated to be worth some US$188 million, industry sources said. Since 1994, Daewoo Shipbuilding has secured orders from the Greek shipping firm to build a total of 105 ships.So far this year, DSME secured a combined USD 1.3 billion worth of orders. The builder’s 2019 orderbook includes four LNG carriers…

14 Aug 2018

South Korea Tops Global Shipbuilding Industry in July

South Korea maintained its number one ranking in the global shipbuilding market in July. The South Korean yards were responsible for almost half of all new orders placed in July 2018.According to Clarkson Research, Korea received orders in July totaling 970,000 compensated gross tonnage or CGT, a measure of work needed to build a vessel. That accounts for about fifty percent of the month's global shipbuilding orders.Yonhap reported that it is a sign of the industry's possible recovery after years of struggling with a global downturn.South Korea ranked first with new orders worth 4.96 million CGTs, or 115 vessels, in the first six months of this year, marking the first time in three years to be at the head of the pack in the first half.

11 Jul 2018

ABB Wins Order for World's Biggest Offshore Wind Farm

(Image: ABB)

ABB has won orders worth more than $150 million from Danish energy company Ørsted to supply technology to transmit wind energy from the 1,400 megawatt (MW) Hornsea Project Two, slated to be the world's largest offshore wind farm.The orders were booked in the second quarter of 2018 and are the first tranche of a global five year frame agreement for the supply of electrical and automation equipment for offshore and onshore wind power connection and integration to the grid, ABB said.ABB will supply its Static Var Compensation (SVC) Light technology with ABB Ability MACH control systems…

25 Jan 2018

Keppel Posts First Quarterly Loss in 14 Years

Singaporean conglomerate Keppel Corp swung to its first quarterly net loss in 14 years, after accounting for a huge fine its rig-building unit agreed to pay to resolve investigations into charges it bribed Brazilian officials. Keppel, last month, said its offshore rig-building business had agreed to pay more than $422 million to resolve the bribery probe brought against it by authorities in the United States, Brazil and Singapore. Investigations with respect to the individuals involved are ongoing. The company, whose businesses range from rig-building to property development, reported a net loss of S$495 million for the fourth quarter ended December, compared with a net profit of S$143 million in the year-ago period.

30 Nov 2017

PanOcean Signs USD 1.8bln Deal with Brazil's Vale, Orders Six VLOCs

South Korean shipper Pan Ocean has won a 1.98 trillion won ($1.82 billion) contract to transport iron ore over a period of 27 years for Brazilian mining giant Vale, Reuters reported. The South Korea company said in a regulatory filing that it is set to carry iron ore from Brazil to China from January 2020 to August 2047. According to Straits TImes, the contract commences from the first quarter of 2020. "The main objective of the company for entering into this COA is to secure a stabilised source of revenue and profit," said Pan Ocean. Pan Ocean also said it has placed orders worth 483 billion won with a Chinese shipbuilder for six very large ore carriers. The new ships are intended to be employed on long-term cargo contracts. The ships are scheduled to be delivered by September 2021.

05 Sep 2017

Korea Returns to First Place in Shipbuilding

South Korean shipbuilding industry has surpassed China in three months and reached the top of global monthly shipbuilding orders. A report in Yonhap said that South Korean shipyards recaptured the No. 1 position in new orders worldwide in August amid a plunge in overall numbers. The local shipbuilders clinched new orders worth a combined 130,000 compensated gross tons (CGTs) last month to build nine vessels, the report said quoting  data compiled by global research firm Clarkson Research Institute. Chinese rivals came next with 110,000 CGTs, or seven ships. Japanese shipyards bagged orders worth 40,000 CGTs or two ships. In the first eight months of the year, China ranked first with orders worth 4.22 million CGTs or 195 vessels, followed by South Korea with 3.48 million CGTs or 104 ships.

08 Aug 2017

Yangzijiang Shipbuilding Q2 Profit Surges 73%

China’s Yangzijiang Shipbuilding Holdings reported a 73 percent increase in second-quarter net profit, helped by higher revenue from the construction of larger-size vessels,  Reuters reported. The company, which specialises in dry-bulk carriers,  posted a net profit of 719.92 million yuan (S$146 million) for the second quarter ended June 30, 2017. Revenue increased 27 per cent year on year to 3.79 billion yuan in Q2 due to higher contributions across its different businesses. The revenue derived from its shipbuilding business increased 25 per cent mainly due to higher volume of shipbuilding activities with construction of larger-sized vessels.

05 Jul 2017

Yangzijiang Bags Newbuild Orders Worth $133 Mln

China’s Yangzijiang Shipbuilding has won six shipbuilding contracts worth a total of $133m during the second quarter of this year, Business Times reported. Three of these orders for 1,800 TEU (twenty-foot equivalent unit) containerships were exercised from options tied to existing shipbuilding orders. Three others for 82,000-deadweight-tonne bulk carriers were new shipbuilding orders. The new ships are scheduled to be delivered in phases between 2018 to 2020. Yangzijiang Shipbuilding group till this day has  secured a total of 19 effective shipbuilding contracts with an aggregate value of $540m, and there is nine outstanding options including one 6…

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