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Report: Shipbuilders Need to Target Cruise Market

According to the Korea Times, the next five years will provide an opportunity for Korean shipbuilders to construct cruise ships with a high-profit margin, the Korea Shipbuilders' Association said. The construction of luxury cruise ships declined steadily after the September 11 terrorist attacks on the United States. But with a recent favorable upturn, the market is expected to expand especially in the large and medium-size category through 2010, with an annual growth rate of about 5 percent, the association said. This prospect of stronger demand for cruise ships will offer local shipbuilders opportunities to venture into the construction of cruise ships with less risk. South Korea is the no.1 shipbuilding country in the world with aggregate exports of $17.6 billion last year. However, Korean shipbuilders haven't seen significant sales in the cruise ship business, which accounts for about 20 percent of the global shipbuilding market. Until recently, Europe had almost completely monopolized the building of cruise ships. According to the Association of European Shipbuilders and Ship Repairers, a quartet of Europe-based shipbuilders that has maintained a combined 84-percent market share since 2002. The average age of cruise ships in service at present is about 42.4 years for 19 ships over 10,000 gross tons, and 37.8 years for those less than 10,000 gross tons. Accordingly, replacement demand is likely to become active in the near term, the association said.


Many 1Q Orders for South Korean Shipbuilders

South Korean shipbuilders racked up large overseas orders in the first quarter, keeping them on course to far exceed yearly targets, Korea Times reported. Hyundai Heavy Industries, the world's largest shipbuilder, clinched orders worth $2.3 billion in the January-March period, compared with its full-year target of $7.4 billion. Its two affiliates - Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries - won a combined $2.75 billion worth of orders in the first quarter


South Korean Foreign Ship Orders Drop

New foreign orders received by South Korean shipbuilders fell 15.7 percent in the first nine months of this year from a year ago, provisional figures from the Korea Shipbuilders' Association show. Orders in the nine-month period totaled 5.8 million gt for 110 ships, compared with 6.9 million gt for 121 ships in the same period a year earlier. New orders received in September alone totaled 1.2 million gt for 16 vessels. It did not give comparable 1998 figures


South Korean Ship Orders Up 127% In 1999

Combined orders received by South Korean shipbuilders totaled 12.72 million gt for 227 ships in 1999, up 127.2 percent from a year earlier, according to the Korea Shipbuilders' Association said. New orders received in December alone totaled 3.71 million GT for 66 ships, the association said in a statement. Ships completed in 1999 amounted to 9.48 million gt for 163 ships, up from 7.28 million gt for 143 ships a year earlier, it said


China Targets Shipbuilding Sales of $189 Billion By 2015

SHANGHAI -- China aims to increase annual sales by domestic shipbuilders to $189.7 billion by 2015, as it works toward its goal of becoming the world's leading shipbuilding country, the Ministry of Industry and Information Technology said.  China also plans to raise the value of annual shipbuilding exports to more than $80 billion by 2015, the ministry said, in a five-year plan for the shipbuilding industry. The plan provides new details regarding China's push for significant growth


Aveva: Navies Can Reduce Project Cost, Risk and Timescales

Photo: Aveva

New business paper describes how technology offers proven collaboration capabilities that benefit all parties in warship procurement projects Aveva today announced its publication of a new business paper, “Taking Command: How Aveva technology can increase capabilities in naval fleet management.” In this paper, Aveva examines six ways that navies can exploit technologies used in other sectors, such as the offshore industry


Shipbuilders Make Financial Contributions to International Maritime Developments

The Ministry of Maritime Affairs and Fisheries (MOMAF) said that the Korea Shipbuilders's Association (KOSHIPA), comprising nine major Korean shipbuilders, would subscribe a fund for technical cooperation projects amounting to $100,000, in order to enable developing countries to advance their shipbuilding industries in the International Maritime Organization (IMO) arena. KOSHIPA plans to contribute $50,000 to the fund by the end of this year, and add more $ 50,000 as of early next year


STX Shipbuilding wins $373m Order from India

The STX Shipbuilding Co., South Korea's seventh-largest shipbuilder, has won a $373m order to build six petrochemical goods carriers for a shipping company in India. The order, which accounts for 30.7 per cent of STX Shipbuilding's sales last year, calls for the Korean shipbuilder to deliver the six vessels to India's Shipping Corp. by July 2010, the company said in a statement. Source: ANTARA


VT Halter Marine - New Platform Supply Vessel

VT Halter Marine Inc (VT Halter Marine), a company of VT Systems Inc (VT Systems), signed a contract with Candies Shipbuilders, LLC (Candies Shipbuilders), on Nov. 5, to construct a 285’ Platform Supply Vessel for approximately $8.9m. (www.vthaltermarine.com)


South Korea New Builds May be Canceled

According to a March 10 report from Reuters, South Korea's shipbuilders are showing signs that they will delay or cancel orders. For years, shipbuilders have been a major source of dollars for South Korea, but now this latest news may further erode the won. (Source: Reuters)


Bollinger VP Fanguy Snags SNAME Award

Dennis Fanguy (Photo: Bollinger Shipyards)

Louisiana-based shipbuilder Bollinger Shipyards, LLC announced its vice president for quality management system, Dennis Fanguy, will receive the 2015 William M. Kennedy from the Society of Naval Architects & Marine Engineers (SNAME).  


LNG-fueled Box Ship a 'Momentous Step Forward'

Perla del Caribe, the second of two LNG-fueled Marlin Class ships built by General Dynamics NASSCO for Tote, was launched at NASSCO’s yard in San Diego. (Photo: General Dynamics NASSCO)

On Saturday, August 29, 2015, the world’s first series of energy efficient containerships welcomed its second LNG-powered vessel in San Diego, fueling the U.S. maritime industry with cutting edge economic and environmental efficiencies powered by liquefied natural gas (LNG).


Latest ShipConstructor Update Targets Offshore

With the release of ShipConstructor 2016 R1.1, SSI said it provides additional enhancement for the offshore rig construction market, particularly with regards to weld management. These new features will benefit all shipbuilders, the developer noted


Irving Begins Building Canada's First Arctic Offshore Patrol Ship

Kevin McCoy, President of Irving Shipbuilding and hundreds of employees at the Halifax Shipyard mark the start of production of the first Arctic Offshore Patrol Ship today (CNW Group/J.D. Irving, Limited)

Hundreds of employees gathered in Irving Shipbuilding’s new Assembly Hall at the Halifax Shipyard to celebrate the start of production of Canada’s first Arctic Offshore Patrol ship (AOPS). “Today is a milestone we have all been anticipating


Eastern to Build 4 Towboats for IWL River

Image: ESG

IWL River, Inc., a Impala Terminals Colombia affiliate, and Eastern Shipbuilding Group, Inc. (ESG) on May 20, 2015 signed a contract for the construction of four 134-foot ABS Classed Inland River, Triple Screw Towboats each with a Retractable Pilothouse (ESG Hulls 243-246)


Work Maintenance Vessel Delivered to Otto Marine

Nautical Aliya (Photo: Otto  Marine)

Otto Marine Limited, an offshore marine company, announced that further to a long-term bareboat charter contract that was secured in June 2015, it has taken delivery of a 238-man work maintenance Vessel to fulfill that charter.   The delivery ceremony for the vessel, Nautical Aliya


New USCG Cutter Sets Sail

National Security Cutter James (WMSL 754) sails away from Ingalls Shipbuilding. (Photo: Lance Davis/HII)

The National Security Cutter James (WMSL 754) sailed away from Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division on Sunday, July 12, one month after being delivered to the U.S. Coast Guard, HII announced. The newbuild vessel James was commissioned on August 8 in Boston


HSL in Pact with Hyundai to Build Fleet Support Ships?

Image: Hindustan Shipyard Limited

 Hindustan Shipyard Ltd., the largest shipbuilding enterprise under Indian Ministry of Defence, and world’s premier shipbuilder Hyundai Heavy Industries (HHI) are likely to undertake joint construction of self-propelled fleet support ships (FSS) for the Indian Navy


Ulstein Verft Launches its Largest Ship to Date

Measuring close to 160 meters in length, Yno 302 is the largest vessel built by Ulstein Verft so far (Photo: Ulstein)

On August25, shipbuilder Ulstein Verft launched from its dock hall a special offshore construction vessel, Yno 302, for Island Offshore and Edison Chouest Offshore.   The newbuild measures close to 160 meters in length with at beam of 30 meters


Keel Laid for US’ Next Aircraft Carrier

Leon Walston, a Newport News Shipbuilding welder from Massachusetts, displays the welded initials of Caroline Kennedy, the sponsor of the aircraft carrier John F. Kennedy (CVN 79). Also pictured (left to right) are Rear Adm. Earl Yates, the first commanding officer of the aircraft carrier USS John F. Kennedy (CV 67); Newport News Shipbuilding President Matt Mulherin; Virginia Gov. Terry McAuliffe; and Rep. Joseph Kennedy. (Photo by Chris Oxley/HII)

Newport News Shipbuilding celebrates the keel-laying of aircraft carrier John F. Kennedy (CVN 79)   Newport News Shipbuilding, a division of Huntington Ingalls Industries (HII), celebrated the keel laying of the aircraft carrier John F. Kennedy (CVN 79), the second ship of the Gerald R


Austal Delivers Record Profit Increases

Austal recently delivered LCS 6 to the U.S. navy (Photo: Austal)

Shipbuilder Austal Limited announced it has delivered record revenue and record earnings for the year ended June 30, 2015, with Net Profit After Tax (NPAT) of $53.2 million, a 66.8 percent increase on FY2014.   Austal’s best result in its 27-year history was generated from revenue of


US Rep. Crenshaw Visits Newport News Shipbuilding

Rep. Ander Crenshaw (second from left) toured Newport News Shipbuilding and was briefed on the construction of Virginia-class submarines (VCS) while visiting the shipyard’s Supplemental Module Outfitting Facility. Also pictured (left to right) are Matt Needy, Newport News’ VCS program director; Scott Whitmore, VCS construction superintendent; and Rob Austin, VCS construction director. (Photo by Chris Oxley/HII)

Shipbuilder Huntington Ingalls Industries (HII) hosted Rep. Ander Crenshaw (R-Fla.) Tuesday for a tour of the company's Newport News Shipbuilding division.   Ken Mahler, Newport News' vice president of Navy programs, joined Crenshaw for the visit


ASL Shipyard Secures S$140mln Build Contracts

 ASL Shipyard Pte Ltd. a wholly-owned subsidiary of ASL Marine Holdings Ltd., has secured new shipbuilding contracts worth approximately S$140 million for the construction of a series of tugs and barges, the company’s board of directors announced Thursday.  


NASSCO Invests in Facilities, Equipment and People

5-14-15 Yard at night 1280 WEB.jpg

General Dynamics NASSCO has invested several hundred million in capital projects as part of its efforts to increase efficiencies via  modular shipbuilding, including: two 300-ton cranes allowing shipbuilders the ability to increase the size of the erectable blocks; a block assembly line to


TOTE’s 2nd LNG Containership Launched

Perla del Caribe, the second of two LNG-fueled Marlin Class ships built by General Dynamics NASSCO for Tote, was launched at NASSCO’s yard in San Diego. (Photo: General Dynamics NASSCO)

Shipping company TOTE and shipbuilder NASSCO on Saturday launched Perla del Caribe, the second of two Marlin Class ships – the first containerships in the world to be powered by natural gas. The christening and launch ceremony took place at General Dynamics NASSCO’s shipyard in San






 
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