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
The largest piece of the turret for Shell’s Prelude Floating Liquefied Natural Gas (FLNG) facility has set sail from Dubai for the Samsung Heavy Industries shipyard in Geoje, South Korea, where the facility is under construction, informs Shell.
ExxonMobil has signed up for a Seadrill newbuild drillship for work off West Africa for up to three years. The ultra-deepwater West Saturn, currently under construction in South Korea, will work for the US supermajor at the Erha North Phase 2 development off Nigeria
Specialist shipbuilder Strategic Marine has appointed Dennis Thomsen as its Business Development Manager aimed at boosting its presence in the wind vessel and European work boats markets. He will be based out of Singapore. Dennis will be responsible for all wind vessel and European workboat
Kongsberg Maritime’s Full Picture solution has been selected by Chinese and Korean shipbuilders for 13 advanced newbuild offshore vessels with a total value of 330 MNOK. Dalian Shipbuilding Industry Offshore Co. (DSIC), CIMC Raffles (CIMC)
GasLog Ltd. is pleased to announce the delivery of the fully owned LNG carrier Solaris, from Samsung Heavy Industries Co., Ltd. She today, commenced a medium-term charter to Shell Tankers Singapore (Private) Limited, a subsidiary of Royal Dutch Shell plc
Offshore driller Seadrill signed a five-year, $1.1 billion contract with Total for work offshore Nigeria, it said on Monday. The contract, for Seadrill's newly built ultra-deepwater West Jupiter drillship, is worth around $600,000 per day, including mobilisation
South Korea, Japan and China shipyards update their order books with a clean haul of ocean-going newbuilding contracts, detailed as follows in the latest Clarkson Hellas S&P Weekly Bulletin. Drybulk carriers Clarkson Hellas report a few orders in dry
Samsung Heavy Industries Co said on Friday it won a 419.5 billion won ($410 million) order to build two liquefied natural gas carriers for an unidentified European client. The South Korean firm plans to deliver the vessels by end-August 2017, it said in a filing to the stock exchange
ABS, a leading provider of classification and technical services to the global offshore industry, has been awarded the classification contract from PETRONAS, Malaysia’s national oil company, for the company’s second floating LNG facility (PFLNG 2)
Following the 151st Annual Meeting of Members and of the Board of Directors ABS informs that industry leaders were elected and appointed to serve on several bodies that contribute to the operation of the classification society as it fulfills its mission of promoting the security of life
Maersk Drilling advises that its second new drillship, 'Maersk Valiant', has been delivered from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea. Maersk Valiant has begun its voyage towards the US Gulf of Mexico via Singapore to commence a two year contract with
South Korea's Samsung Heavy Industries said on Wednesday that it is proceeding with a project worth 642.9 billion won ($617.67 million) to build seven container ships as planned. The shipbuilder won the order from Chilean shipping firm Compania Sudamericana de Vapores (CSAV) a year ago
Samsung Heavy Industries Co Ltd said on Wednesday it won a 1.34 trillion won ($1.27 billion) order to build two drillships for an unnamed firm based in or near Australia. The South Korean shipbuilder said in a regulatory filing the contract was expected to be completed by June 2017
Samsung Heavy Industries Co Ltd said on Wednesday it won a 1.34 trillion won ($1.27 billion) order to build two drillships for an unnamed firm based in or near Australia. The South Korean shipbuilder said in a regulatory filing the contract was expected to be completed by June 2017. ($1 = 1052
By Se Young Lee, Reuters Seoul shares fell in early domestic trade Wednesday, touching a near-three week low as persisting worries about China's economic growth outlook cut appetites for riskier assets. The Korea Composite Stock Price Index (KOSPI) was down 1.2 percent at 1,939