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 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
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
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
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
According to a report from Bloomberg, Hyundai Heavy Industries Co. (009540 KS) surged 11% percent after receiving an order for two LNG ships Dynagas Ltd. of Greece, Samsung Heavy Industries Co. (010140 KS) gained 1.8% after it won a $3b order to build a FPSO facility for Shell Development Pty Ltd., Daewoo Shipbuilding (042660 KS) rose 1.8% and Hyundai Mipo Dockyard (010620 KS) rose 3.5%. (Source: Bloomberg)
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.
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
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
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
Scana Industrier ASA has through its subsidiary Scana Steel Stavanger, been awarded a new contract from Samsung Heavy Industry for delivery of steel casting intended for the Australian Ichthys project, representing a value of 36-million NOK.
GasLog has ordered two new 174,000 cbm Tri-Fuel Diesel Electric LNG carriers from Samsung Heavy Industries Co., Ltd. in South Korea. The vessels are expected to be delivered in Q3 and Q4 2016, respectively, and upon delivery will commence firm seven-year charters with a subsidiary of BG Group plc
GasLog Ltd. an international owner, operator and manager of liquefied natural gas (LNG) carriers, report its financial results for the quarter ended June 30, 2013. Highlights Contracted 2 LNG newbuildings at Samsung Heavy Industries for delivery in 2016
Huisman, a worldwide specialist in lifting, drilling and subsea solutions, has secured a new contract for the delivery of a 1,500mt @ 32m Leg Encircling Crane, reportedly the largest of its kind, for Seajacks new offshore wind farm installation vessel Scylla.
FLEX LNG announce they have executed a binding and final settlement agreement with shipbuilders Samsung Heavy Industries: arbitration proceedings have been discontinued and all actual and potential claims and counterclaims arising out of past relationships and contracts between them have been
DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargos, through its majority owned subsidiary, Ocean Rig UDW Inc., an offshore deepwater drilling service company, made several company announcements. $1.35 billion bank facility
Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, has announced the following: $1.35 billion Bank Facility The Company announced that it has signed a supplemental agreement to amend certain provisions in its $1.35b Senior Secured Facility dated February 28, 2013
OOCL Bangkok took center stage at the Samsung Heavy Industries shipyard as the sponsor, Mrs. Betty Tung, delivered an Encomium that blessed the mega vessel, as well as her cargo and all the people who will sail with her. In his ceremonial address, Mr. C. C
Putting a blanket on is normally associated with keeping warm. In the cryogenic world of LNG, however, the ABAS Blanket maintains the liquefied gas at -162°C and reduces the amount of gas lost as boil-off and also reduces the pressure in the tank
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
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