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
BHP Billiton Ltd is set to be the first company to export lightly processed ultra-light U.S. oil without explicit permission from the government, further testing the limits of an increasingly contentious ban on foreign sales. Eight months after two other U.S. energy firms said they had received the first formal authorization to sell domestic condensate abroad, BHP said it had determined that its oil would also meet the legal criteria for export since it was being minimally processed in
China Shipping Group has launched container shipping services in Moldova, becoming thus the second foreign companies to have the operation in the country's only port of Giurgiulesti. The hub is vital for Moldova as its economy suffers as a result of the Russian embargo on Moldovan
Cheniere concluded its maiden LNG spot trade earlier this week at for late-July delivery to an Asian buyer, reports Platts quoting a source with direct knowledge of the deal. Sources told Platts that the maiden trade was completed at $7
According to the Internatinal Chamber of Shipping, the United States Congress signaled last week its intention to approve major free trade deals with Asia and Europe. ICS voices serious concern about the potentially protectionist approach being taken by the U.S
Port of Savannah set records for both container volumes and total tonnage in May, with the highest tonnage ever recorded in a single month. The Port of Savannah has handled more than 338,000 TEUs, the Georgia Ports Authority said Monday. The container throughput represented a 16
Brazilian steelmaker Usiminas intends to cancel its iron ore shipment contract with the Sudeste Port, a private terminal near Rio de Janeiro, the port said on Friday. The statement did not say how much Usinas Siderurgicas de Minas Gerais SA, as the company is formally known
The Gulf LNG Liquefaction Project proposed by Kinder Morgan and minority partners officially filed Friday for federal approval to add exporting capabilities to an existing liquefied natural gas (LNG) terminal. The $8 billion LNG export project near Pascagoula
Trade Connect, the Port of Los Angeles’ award-winning export education outreach program, formally debuted its new website, LATradeConnect.org, at today’s Los Angeles Board of Harbor Commissioners Meeting. “Trade Connect plays a vital role in strengthening our
Port workers in Argentina's Rosario grains export hub will kick off a strike on Tuesday to demand salary improvements and union rights, the local port chamber said on Saturday. The strike, which is set to start at midnight local time (0300 GMT) on Tuesday "will take place in such a
Watson Farley & Williams (“WFW”) has advised long-time client MSC Cruises (“MSC”) on the €1.2 billion (US$1.35bn), export credit agency (ECA) supported financing of two newbuild ‘Seaside class’ cruise ships
Port workers who run Argentina's Rosario grains hub met on Monday with export companies for wage talks aimed at avoiding an open-ended strike that labor leaders had announced for Tuesday, a union official said. A strike at Rosario would slow soy and corn exports in the middle of Argentina's
Shipowners operating in the trans-Atlantic dry bulk market, where prices have been plumbing two-year lows on the back of acute vessel oversupply and shifting patterns in minerals demand, could be facing brighter days, according to the latest special report released by Platts
“The prosperity of the United States is inextricably entwined with that of the rest of the world and international trade agreements provide stability and equity enabling increased trade,” said American Association of Port Authorities (AAPA) President and CEO Kurt Nagle in
Anadarko Petroleum is in talks with newly formed Japanese joint-venture vehicle Jera, set to become the world's biggest buyer of liquefied natural gas (LNG), to sell long-term supply from its Mozambique export scheme. The U.S. oil major's gas finds in Area 1 of Mozambique's Rovuma
EXMAR stated that on June 23rd 2015 under the witness of King Philippe of Belgium and President Xi Jinping, Mr. Jiang Jianqing, Chairman of Board of ICBC and Mr. Nicolas Saverys, CEO of EXMAR, signed the financing agreement for the world’s first floating LNG unit (FLNG –
“Britannia rules the waves” paid a glowing tribute to the maritime past of the United Kingdom. Over the past three centuries as the sun began to set on the British power, resilient U.K. with its pioneering characteristics began its voyage of transformation to become a world-class