Samsung Heavy Industries Co., South Korea's third-largest shipbuilder, said it has won orders worth a combined $630m for five oil tankers and an offshore. Under the deal with a Norwegian customer, Samsung Heavy will deliver the oil tankers by 2013. Another deal with a U.S. customer calls for the shipbuilder to deliver the offshore facility by 2013. With the deals, Samsung Heavy has won deals valued at $6.1b in 2010. For the year, Samsung Heavy aims at winning $8b worth of orders.
Shipbuilding orders trend upward at Samsung Heavy Industries Easing of the Eurozone sovereign debt problems, increased issue of drilling permits in the Gulf of Mexico and growing demand for drillships in Latin America and West Africa have combined to give Samsung Heavy Industries the best order growth visibility among the “Big Three” – Hyundai Heavy Industries and Daewoo Shipbuilding and Marine Engineering.
According to a report from the Korean Herald, the competition in the market for drillships is heating up with Hyundai Heavy Industries Co. threatening Samsung Heavy Industries Co.’s dominance. Hyundai Heavy has turned its eyes to the market in recent years. The company’s first drillship was delivered late last year and Samsung Heavy has lost its place at the top of the drillship market to Hyundai Heavy. Source: The Korean Herald
According to reports, Samsung Heavy Industries Co., has received orders for 14 container ships worth $1.5 billion from three companies including Panama's Naviera Daniela SA and Greece's Danaos Shipping Co. Samsung Heavy will deliver the ships by November 2009, the said in a regulatory filing to the Korea stock exchange today. The orders today raise Samsung Heavy's total for the year to date to $6.9 billion, 90 percent of its 2006 target.
Photo Credit: SHI It has been reported that South Korea’s Samsung Heavy Industries (SHI) has signed a comprehensive cooperation agreement with the Japanese company, Tsuneishi Shipbuilding Co. The deal is said to be the first of its kind, initiating a strategic collaboration between Japanese and South Korean shipbuilders. The cooperation would entail the construction and repair of cargo vessels and special purpose ships.
Samsung Heavy Industries (SHI) apparently found no troubles in Greece this year, as the company reports inking a deal for five ships at Posidonia 2010, meaning its contracting amount has reach $3.3 billion in 2010, more than double the annual contracting amount of the previous year. SHI won orders for five 158,000 t SUEZMAX-class oil tankers during Posidonia 2010. Samsung Heavy Industries focused on attracting shippers and winning contracts at Posidonia 2010
The nation’s major shipbuilders are expected to undergo a mild recovery on the back of a pickup in demand for commercial vessels and liquefied natural gas (LNG) carriers, reports 'The Korea Times' as informed by experts and analysts. The analysts forecasted that the nation’s leading builders such as Hyundai Heavy Industries (HHI), Samsung Heavy and Daewoo Shipbuilding and Marine Engineering (DSME) are well positioned to win more premium vessels ahead of their Chinese and Japanese
After raking in almost 40 percent of global orders in 2000, South Korean shipyards plan to focus on boosting profit margins this year by being more selective in picking up orders, company officials and analysts say. The country's major shipbuilders are under no pressure to accept new orders as their backlogged orders are sufficient to keep their dockyards busy for the next two-and-a-half years. But officials at Hyundai Heavy, the world's largest shipbuilding firm
Daewoo Heavy Industries has agreed to build two 442,500 dwt, ULCCs for Majestic Shipping Corp., a subsidiary of Loews Corp. Majestic also has options with Daewoo to build two additional vessels. Another Loews subsidiary, Hellspont Shipping Corp., recently contracted for Samsung Heavy Industries to build three 303,000 ton VLCCs and agreed to an option to build one additional ship. Delivery of the new vessels from both Korean shipyards is scheduled to begin in the fourth quarter of 2001
Korea's top-three shipbuilders are eyeing $36b in sales this year, down from a record $37b last year. Korean shipbuilders secured almost half of the $100b in global orders last year offering a competitive balance of price and quality. But this year the shipyards are facing higher steel plate prices, while a strengthening Korean won against the dollar is eroding profits made from U.S. dollars. Korea's Hyundai Heavy Industries is the world's largest shipbuilder followed by Daewoo
Reuters - Yangzijiang Shipbuilding Holdings Ltd, a top Chinese shipbuilder, plans to build more mega container ships for shipowners eager to cut operating costs. Yangzijiang is China's third-largest listed shipbuilder by market capitalisation and has boasted profit margins that dwarf those of
Maersk Drilling informs it has taken delivery of its first ultra deepwater drillship, 'Maersk Viking', from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South Korea. The new vessel has started its voyage to the US Gulf of Mexico where it will commence a three year contract with
Wärtsilä said it signed a contract in late 2013 for a range of pumping solutions for a new Floating Storage Unit (FSU) which will operate on the Mariner oilfield in the North Sea. Wärtsilä's contract was signed with Samsung Heavy Industries (SHI) which will build the FSU in
Pacific Drilling says that the latest in its fleet of 5 of new ultra-deepwater drillships is in service. Two additional drillships are under construction at Samsung Heavy Industries for delivery in 2014, and an eighth rig is under construction for delivery in March 2015.
Maersk Drilling say that their second and third ultra-deepwater drillships have been named in a ceremony held at the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South Korea. Lisa Lance, wife of Ryan M. Lance, chairman and chief executive officer
GasLog Ltd. says it has agreed with Methane Services Ltd. (MSL), an affiliate of BG Group, to purchase 3 LNG carriers from MSL's fleet and to charter those ships back to MSL for 6-year initial terms. MSL also will have options to extend the term of the time charters for 2 of the ships for a period
Korea’s big three shipbuilders are committed to making a fresh start with regard to business ethics in 2014 after getting hit with bribery scandals in 2013, reports the Korea Joong Ang Daily. According to the Korea Joong Ang Daily, Hyundai Heavy Industries
The nation's top three shipbuilders have seen their combined orders rise again to the US$50-billion mark, six years after they first soared past this level in 2007 when the industry was flourishing, reports ‘The Chosunilbo’. Total orders placed by Hyundai Heavy Industries
Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, announced that it took delivery of its 228- x 42-meter newbuilding drillship, the Ocean Rig Skyros, on Friday, December 20, 2013. The seventh-generation deepwater drillship
The 488-meter-long-hull of Shell’s Prelude floating liquefied natural gas (FLNG) facility has been floated out of the dry dock at the Samsung Heavy Industries (SHI) yard in Geoje, South Korea, where the facility is currently under construction
Kongsberg Maritime was recently awarded separate contracts with three major shipyards in Asia for major technology deliveries to specialist offshore vessels. Samsung Heavy Industries (SHI) and Hyundai Heavy Industries (HHI) in Korea, and Cosco Shipyard in China have each selected Kongsberg
Liquefied natural gas (LNG) is one of the fastest growing energy markets worldwide, and global production capacity could be more than double by the end of the decade. Higher natural gas prices and growing efficiencies in the LNG value chain are making it economically attractive to ship LNG over
Rolls-Royce has signed a contract to supply thrusters and deck machinery for two semi-submersible drilling rigs to be built at Samsung Heavy Industries in Korea for Stena Drilling. Rolls-Royce reported the value of the contract to be around £22.5 million.
Nordic American Tankers Limited (NYSE:NAT) has for the 65th time declared a dividend for its shareholders. The company announced that its Board of Directors has declared a dividend of $0.16 per common share. The record date is November 20, 2013 and the payment of dividend is expected to take
The new drillship was named 'Maersk Viking' by Mrs. Nathalie Newman, wife of Mr. Harry E. Newman Jr., ExxonMobil Global Drilling Manager in a ceremony at the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South Korea. Maersk Viking is the first in a series of four ultra deepwater drillships