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
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)
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
South Korean shipbuilder Samsung Heavy Industries plans to build three Arctic tankers for Russian oil company Gazprom Neft, which has been targeted by Western sanctions, sources familiar with the deal said. The sanctions imposed on Moscow over its role in the crisis in Ukraine have complicated Russian companies' oil exploration and production in deep water, Arctic offshore or shale projects, as they use Western technology.
Variations in owner, operator and regulatory requirements during engineering and construction phases at South Korean shipyards present a huge challenge for operators and drive up costs. DNV GL has kicked off a joint industry project (JIP) with Hyundai Heavy Industries (HHI)
Struggling with technology and a plunge in oil prices that has discouraged exploration, Korean vessel makers are racking up debt and could show billions of dollars in losses, reports Bloomberg. The Big Three shipbuilders in South Korea ventured into offshore oil rigs starting around
Nigeria Liquefied Natural Gas Company (NLNG) expects to take delivery of four LNG carrier ships before year-end and another two next year, its chief executive said, positioning the state-backed gas exporter to expand its share of the growing market.
A Brazilian judge sentenced Nestor Cervero, former international chief of state-run oil firm Petrobras, to just over 12 years in prison on Monday for corruption and money laundering related to a bribe allegedly paid to the speaker of Brazil's lower house of Congress.
GTT (Gaztransport & Technigaz) has signed a cooperation agreement with the South Korean Shipbuilder Hyundai Heavy Industries (HHI) for the industrialization of GTT’s new Mark V technology. A similar partnership was signed a few weeks ago between GTT and Samsung Heavy Industries
As the construction of ultra large container ships gained momentum, Korean shipyards are sweeping up the market, according to a report appeared in Business Korea. Total orders of 21 container ships exceeding 20,000 TEU in capacity were placed globally from the end of last year to
The 120,000 dwt. tankers, Eagle Barents and Eagle Bergen, delivered from Samsung Heavy Industries (SHI), are fitted with Class and Flag State approved exhaust gas cleaning systems (EGCS) provided by Clean Marine. Measurements of exhaust gas emission and washwater criteria are well below the
Samsung Heavy Industries (SHI) has announced that it is to build three shuttle tankers for Teekay Offshore Partners, at a total price of $365m and the contract includes an option for an extra vessel. The contract was signed in Oslo where Nor-Shipping 2015 was held
Capital Product Partners (CPP) has taken delivery of a new panamax containership, which will commence a five-year timecharter to CMA CGM. It also has won a timecharter from Cargill, and another two have had their charters to Capital Maritime extended.
PETRONAS achieved another milestone with the official steel cutting of its second floating liquefied natural gas facility, the PETRONAS Floating LNG2 (PFLNG2) in a ceremony held on 11 June 2015 at the Samsung Heavy Industries (SHI) Shipyard in Geoje Island, South Korea.
Nigeria Liquefied Natural Gas Company (NLNG) is sponsoring the construction of the first major ship yard in Africa's biggest economy at the cost of $1.5 billion, in its attempt to turn the country into a hub for maritime operations on the continent.
Norway's Offshore drilling firm Sevan Marine ASA has appointed law firm Selmer to investigate claims by Brazilian media that a former manager and agent of Sevan Marine are connected to the Brazilian authorities' investigation into corrupt activities involving Petrobras.
Norwegian oil major Statoil has awarded Samsung Heavy industries an $888 million contract for two platform decks on the giant Johan Sverdrup field in the North Sea, it said on Tuesday. The contract includes fabrication of decks for both the process and riser platforms for the Sverdrup
South Korean shipbuilder Samsung Heavy Industries Co. as won a 5.2 trillion won (US$4.7 billion) order to build three floating liquefied natural gas (FLNG) facilities, reports Yonhap. Under the deal with the Netherlands-based Shell Gas & Power Developments B.V
The Browse project covers the realization and installation of three FLNG units to develop the Brecknock, Calliance and Torosa fields in the Browse Basin, 425 kilometers North of Broome, Western Australia. The Browse project will capitalize on Shell's FLNG experience