China’s Shipyards Operating at Full Capacity
The major shipyards in China are operating at full capacity, resulting in potential order backlogs, reports China Daily.The value of China's ship exports rose by over 21% year-on-year to $8.86 billion in the January-May period, according to China Association of the National Shipbuilding Industry data. Orders rose by 50% over that time, giving China a 67% world share.Orders have included container ships, bulk carriers, LNG carriers, vehicle carriers and offshore vessels. The growth in orders has been partially attributed to shipowners looking to meet decarbonization goals.CSSC subsidiary…
Venezuela's Oil Exports Up in July, Fueled by Ship-to-ship Transfers
Venezuela's oil exports increased for the second consecutive month to 713,097 barrels per day (bpd) in July, as state-run PDVSA offset loading delays at its main port by boosting ship-to-ship transfers, according to tracking data and documents.That was Venezuela's highest level of oil exports since February, according to the data.A growing number of mostly unknown clients with no record in oil trading have helped PDVSA increase shipments, most of which now goes to Asia. Its traditional…
Shipbuilding in Nova Scotia
Irving Shipbuilding’s successful C$25 billion bid for the combatant portion of the National Shipbuilding Procurement Strategy (NSPS) illustrates the strength of Nova Scotia shipbuilding industry. Under the program, Irving Shipbuilding, Inc. (ISI) will build six to eight Arctic/Offshore Patrol Ships and 15 Canadian Surface Combatants for the Department of National Defense (DND) over the next 20-30 years. The NSPS contract is in addition to ISI’s contract to build nine mid-shore patrol vessels for the Canadian Coast Guard…
Korea Ship Exports to Hit $53b in 2009
According to a report from KBS, Korea’s domestic shipbuilding industry will lead the nation’s exports in 2009 as it is expected to exceed the $50b mark in exports for the first time. (Source: KBS)
Korea's Shipbuilding Industry Update
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. Of the world's total back orders for ships, as measured in compensated gross tons, Korea holds 36 percent. That's enough projects to keep Korea's shipbuilding industry afloat for four years without taking another order.
Japan March ship exports down 34%
Ship export contracts concluded by Japanese shipyards in March fell 33.6% from a year earlier to about 1.37 mgrt, or 33 vessels, the Japan Ship Exporters Association reported. Orders in March consisted of six freighters, 14 bulk carriers and 13 oil tankers. Data show that contracts for bulk carriers declined most sharply falling to 82 from 163 in the year through March 2001.
Japan Ship Exports Up For Month
Ship export contracts concluded by Japanese shipyards in June rose 20.7 percent from a year earlier to 805,440 grt, or 26 vessels. The grt level, however, is down 8.8 percent from June 1998, the Japan Ship Exporters' Association said. The association said orders for June consisted of 12 freighters, 11 bulk carriers and three oil tankers. The statistics cover orders received by association members for steel vessels of 500 GRT or more.
Shipbuilder Plans $94m Facelift for Central Port
The Vietnam National Shipbuilding Corp. will reportedly turn Cua Viet into a 300-400 ha port complex with a shipyard, ecotourism facilities, a golf course, and a wharf to accommodate 100,000-ton ships, according to a report on www.thanhniennews.com. The province has reportedly spent $1.74m on the port since 1993 but it has been plagued by amassing sand deposits. The people’s committee then decided to hand over the port to Vinashin hoping it would be able to develop Cua Viet and ultimately generate economic growth for the province. Established in 1996 Vinashin and its 20 subsidiaries have targeted turning Vietnam into the world’s 11th largest shipbuilder, four spots up the table, in the near future. They aim to earn revenues of $1 billion this year.
Shipbuilder to Invest $40m in Central Facilities
Vinashin will invest $40m into building ten facilities to support the Dung Quat Shipbuilding Industrial Plant in central Vietnam. Construction of the factories is scheduled to begin this quarter in the Dung Quat Economic Zone of Quang Ngai Province. Under the plan, the new facilities will focus on manufacturing engines, pumping equipment, boilers and lifting equipment. Each plant will cost between $3.7m and $4.3m Vinashin has also recently opened a new subsidiary, Vinashin Offshore Industries in Hanoi. The new entity will focus on manufacturing floating storage and off-loading (FSO) units, moorings, oil drilling vessels and other industrial equipment.
Vinashin and Songsan to Produce Steel
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. The ship maker wants 60 percent of its steel to be sourced locally by 2010 from the current 30-40 percent. Vinashin Group said it needs $2.5b to carry out projects under the strategy of $1b in ship exports to 2010.
Vietnam Shipyard Builds Tanker for PetroVietnam
An affiliate of Vietnam shipbuilding giant Vinashin started work on the first of three 105,000 oil tankers under a contract last July with the state-run oil giant PetroVietnam. The $56m freighter to be 245m-long, 43m-wide and 20m-height will be built by Dung Quat Shipbuilding Industry Company and have state-of-the-art equipment satisfying latest international maritime conventions. The first will be handed over by the March of 2008, and the second and third by 2009 before the Dung Quat Oil Refinery goes on stream in 2009 – the first of its kind in the country which is now under construction in the central Quang Ngai Province. The company inked a $400…
Vietnam's Ship Export Value to Climb to $1.7b
According to VNA, Vietnam's Ministry of Trade estimates that the shipbuilding industry can earn $1.7b annually from ship exports by 2010. The Vietnam Ship Building Corporation this year received a $750m loan via the issue of government bonds in the international market. Thanks to this capital, the corporation expects to export products worth $500m annually from 2007. To date, it has signed export contracts valued at about $1.5b through 2009. Source: VNA
Korean Ship Exports to Exceed $22b
Reports said that exports of Korean ships are expected to exceed $22b this year on the back of more sales of high-value-added vessels including liquefied natural gas carriers. The Korean shipbuilders association says domestic shipyards are likely to export $10.7b worth of vessels in the second half in addition to the $11 billion in the first half of the year. The association believes the industry will see a trade surplus of $19 billion this year, accounting for 70 percent of the country's aggregate trade surplus. Source: Arirang News
Vinashin Eyes Investments
The Viet Nam Shipbuilding Industry Corporation (Vinashin) will need $2.5b to carry out projects under the strategy on ship exports until 2010. To meet the target of $1b evenue from ship exports in five years, Vinashin plans to invest in building and upgrading infrastructure of 10 large shipyards to make them capable to build 3,000-10,000 ton ships. It also plans to build seven shipyards, six shipbuilding industrial parks and seven shipbuilding industrial complexes in all of Vietnam. Vinashin will increase its investment and business capital through the Shipbuilding Industrial Financial Company. It will set up a financial leasing company, a securities company, an insurance company, and a shipbuilding industrial investment fund to attract domestic and foreign capital sources.
Kawasaki Heavy Industry, Chinese Co. To Set Up Shipyard
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.
Japan Ship Exports Up 69%
Ship export contracts concluded by Japanese shipyards in June rose 68.8 percent from a year earlier to about 1.36 million grt, or 27 vessels, the Japan Ship Exporters Association said. Of the 27, three were freighters, 10 were bulk carriers and 14 were oil tankers, the association said. The monthly data cover orders received by association members for steel vessels of at least 500 grt.
KHI, China Ocean Shipping To Set Up Shipyard
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. is expected to set up a wholly-owned shipyard in Ningbo in Zhejiang province. It said the second phase of the project would require approval from the State Development Planning Commission but gave no further details. China has been trying to boost exports to spur its sluggish economic growth.