Ship Exports

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.

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

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.

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.

Iran to Export LNG by 2011

Iran has signed a memorandum of understanding (MOU) to export natural gas to Italy, to be implemented by 2011, says an IranMania report. Iran will also export gas to China by the end of the current year. China’s oil giant Sinopec Group signed a $70 billion oil field development and LNG agreement with Iran earlier this fall, according to the report. Iran will attain an annual LNG export of 36 million tons, worth $6 billion, by 2015. Source: IranMania

Lukoil Expects Flat Exports

Russia's Lukoil expects its crude exports next year to stay at the expected 1999 level of 24 to 25 million tons. "If the rules do not change, we hope (to export) around 24 or 25 million tons, like this year," Vagit Alekperov told a news conference. Russia doubled its crude oil export tariff to 15 euros per ton from December 8 in line with rising world prices.

Weather Stops Crude Exports

Mexico's crude oil export ports Dos Bocas and Pajaritos in the Gulf of Mexico remained closed on Wednesday by bad weather, the Transport Ministry said. Winds of up to 85 kmph were whipping up 14-ft. waves at Coatzacoalcos the Veracruz state port where Pajaritos is located, the ministry said. A daily average of 389,000 barrels of extra-light Olmeca crude was exported from Pajaritos in 1997.

Australian LNG Exports to Increase

The output from an expanded Australian North West Shelf is a major driver in the forecast 48 percent increase in LNG exports to $4.7 billion this year, according to a WA Business News report. The increase in LNG exports is drawing on higher output from the NWS's fourth LNG train, as well as the start up of the new Darwin LNG plant in 2006. Source: WA Business News

Changing Russian Export Patterns

Russia has the seventh largest oil reserves in the world (6% of total), after 5 Middle East Countries (totalling 63%) and Venezuela (7%). The other Former Soviet Union (FSU) republics Azerbaijan, Kazakhstan, Turkmenistan, and Uzbekistan have together less than 2% of the total world reserves, estimated by BP to be some 1048 thousand million barrels. The Russian reserves are spread over a huge area: West Siberia, Volga-Urals, North Caucasus, the Caspian area, the Far East regions

U.S. DofE Likely to Grant More LNG Export Permits

The Department of Energy is likely to approve additional permits this year to companies looking to export liquefied natural gas more broadly, reports Market Watch, citing Morgan Stanley. Freeport LNG has recently received DOE approval to export LNG to countries without a free trade agreement with the U.S.. Only one other project — Cheniere Energy Inc.’s Sabine Pass — has been granted that coveted permit, informs the Wall Street Journal Market Watch report.