As Beijing looks to boost ship exports, Japan's Kawasaki Heavy Industry Ltd is likely to join state-run China Ocean Shipping Group to set up a $96.8 million shipyard in east China. The shipyard, a 50-50 joint venture, will design and build vessels of at least 160,000 dwt. There are also reports that South Korea's Samsung Heavy Industries Ltd is expected to set up a wholly-owned shipyard in China.
As Beijing looks to boost ship exports, Japan’s Kawasaki Heavy Industry Ltd. and state-run China Ocean Shipping Group have announced intentions to set up a $96.8 million shipyard in east China. The shipyard, to be located in Nantong in Jiangsu province, would be a 50/50 joint venture and would design and build vessels of at least 160,000 dwt. There was also report last week that South Korea’s Samsung Heavy Industries Ltd
Vinashin has joined forces with Korea’s Songsan Company to form a joint venture to produce steel structures for shipbuilding. The Songsan-Vinashin JV will invest $35m to build a factory in the northern Hai Duong Province. The steel mill is set to come on stream in the second quarter of 2008. The mill is designed to produce steel structures for shipbuilding yards including Vinashin, replacing imported products in the national industry.
According to English.chosun.com, Korea's southern island Geoje has a 400-hectare plot where 26,000 shipbuilders are hard at work. The shipyard owned by Daewoo Shipbuilding and Marine Engineering places among the top five along with Hyundai Heavy Industries and Samsung Heavy Industries. Korea's shipbuilding industry, keeps on growing. This year's ship exports are expected to exceed US$30 billion, up 13 percent from last year.
Despite the issues surrounding over-tonnaging in the ship-building industry as a result of the 2008 financial crisis, more than 587 vessels are expected to be built in Southeast Asia in 2015. According to a report by Robert Willmington of IHS Maritime, Southeast Asian shipbuilding is anticipated to rise to more than 4.8 million gross tonnage (GT) in 2015. The countries that currently dominate the conventional market segments in the Asian shipbuilding and repair
88 medium-size and large shipbuilding enterprises in China realized an aggregate gross industrial output value of RMB 163.0 billion ($26.3 billion) during the January-May period this year, up 5.5 percent year on year, says China Association of the National Shipbuilding Industry (CANSI). The aggregate shipbuilding output in China amounted to 15.48 million deadweight tons (dwt), up 18.9 percent year on year.
The Energy Department announced it has conditionally authorized Lake Charles Exports, LLC (Lake Charles) to export domestically produced liquefied natural gas (LNG) to countries that do not have a Free Trade Agreement (FTA) with the United States from the Lake Charles Terminal in Lake Charles, Louisiana. Lake Charles previously received approval to export LNG from this facility to FTA countries on July 22, 2011. Subject to environmental review and final regulatory approval
Mexico's Pemex has quietly begun shipping light Isthmus crude to a variety of West Coast refiners this year, according to U.S. and Reuters data, resuming such sales after a six-year hiatus. The state-run oil company, which exported only about 100,000 barrels per day (bpd) of Isthmus last year, shipped about 340,000 barrels of the crude to Valero Energy Corp at Benicia, California, in January and February, according to U.S. government data.
3rd U.S. condensate export cargo heading to Singapore; Pioneer expects exports to rise to 50,000 bpd next year. Eyes exports of bigger cargoes to reduce freight costs. Pioneer Natural Resources plans to double its U.S. exports of condensate, an ultra-light oil, to 50,000 barrels per day (bpd) next year, its chief executive said on Monday. The U.S. shale resources explorer, along with Enterprise Product Partners LP, received the green light from the U.S
Since February, freight rates on the three key container shipping lanes has left the erratic up and down movements behind only to slide week after week. On Friday April 10, 2015 the freight rate including ocean freight and surcharges, i.e. was quoted at USD 466 per TEU for the Shanghai to Europe trading lane. This is the lowest on record since the 2009. The new all-time low point comes on the back of deteriorating exports from China for three months running in 2015
The World Trade Organization's Appellate Body ruled against the United States on Friday in a dispute with Mexico over tuna labelling, upholding an earlier ruling issued in April that found U.S. rules discriminated against Mexico. "The Appellate Body concludes that the United States
Commodities hit 13-year lows before rebounding on Monday after Saudi Arabia's pledge to work toward crude price stability bolstered oil and France's first wheat exports to Indonesia in more than six years helped lift grains markets.
German liner company Hapag-Lloyd has further improved the Europe Australia Express service (EAX), one of its prime products. New port calls in Fos sur Mer and Pointe de Galets / Short transit times from Europe to Australia unchanged / Italian port switched to Salerno on Northbound
Shipping minister says current measurement method not effective. On the day he took office as Greece's shipping minister in June 2012, Kostis Moussouroulis received a visit from a 90-year-old shipowner. He still remembers the older man's words: "Don't forget
The Industrial and Commercial Bank of China (ICBC) has signed a financing agreement with Germany shipping company F.Laeisz GmbH. Under the agreement, the ICBC will provide 65 million U.S. dollars in export buyer's credit for F
Iran's oil tanker fleet is expected to face more hurdles before many of the vessels can start trading again due to insurance hiccups and tougher requirements over sea worthiness by potential foreign clients, despite easing of sanctions, reports Reuters.
OPEC said its oil output fell in October and forecast supply from rival producers next year would decline for the first time since 2007 as low prices prompt investment cuts, reducing a global supply glut. In a monthly report, the Organization of the Petroleum Exporting Countries said it
With two months left in the shipping season, U.S. ports were busy moving grain and project cargo in October. “We anticipated an increase in vessel activity and cargo tonnage into the Great Lakes Seaway System for the month of October, and we saw it,” said Betty Sutton
Canada will push ahead with a moratorium on oil tanker traffic along the northern coast of British Columbia, effectively slamming the door on a controversial pipeline project that was already facing massive development hurdles. In a letter released on Friday
The Port of Los Angeles handled a total of 704,588 Twenty-Foot Equivalent Units (TEUs) in October 2015. October volumes decreased 1.5 percent compared to the same period last year. “This October’s volumes were slightly less than last October
India and Bangladesh have signed the standard operating procedure (SOP) to launch the ‘Agreement on Coastal Shipping’, which is expected bring down the logistic costs of export-import cargo between the two countries.
Germany’s largest universal port reported the effects of weakened Chinese foreign trade plus the steep downturn in trade with Russia during the first nine months of the year. Totaling 104.6 million tons, seaborne cargo throughput in Hamburg was down 4
March 2016 would mark start of low-demand spring season. Oil traders are preparing for another downward turn in prices by March 2016, market data suggests, as what is expected to be an unusually warm winter dents demand just as Iran's resurgent crude exports hit global markets after sanctions
Capesize market could worsen in short-term; 3.5 mln tonnes could be cut from Brazil ore exports. Freight rates for capesize bulk carriers could drift lower next week as Brazil's Samarco iron ore mine disaster and uncertain ore demand from China weigh on cargo volumes, brokers said.
Modelling work over the past two years by the Pilbara Ports Authority (PPA) has identified opportunities to increase the shipping capacity in Port Hedland's channel over the next three years to as much as 577 million tonnes a year.