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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


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


Nine New Orders for South Korean Shipbuilders

Photo:  Hyundai Heavy Industries

 While South Korean shipbuilders are continuing to struggle for survival as the recession in the global shipbuilding market drags on, they have clinched new orders to build nine ships in the first four months of the year.   Yonhap, quoting industry data, said that the S.Korean shipyards, led by Hyundai Heavy Industries Co., have clinched new orders to build nine ships, accounting for 5 percent of new shipbuilding orders placed around the globe.  


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


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)


Law Maker Attacks Korean Shipbuilders

Image: Hyundai Heavy Industries

 Lee Jin-bok, a lawmaker of the ruling Saenuri Party in Korea says that the government has given an "incentive for mutual growth" to Korea's major shipbuilders while they are accused of an unfair business practice.   The three shipbuilders - Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries - forced their partner companies not correctly to respond to the questionnaire on the 'mutual growth index,' he accused.  


S. Korea Keeps Top Spot in Shipbuilding Beating China, Japan in Q3

Image: Hyundai Heavy

 South Korean shipbuilders have ranked first in the world outpacing Chinese and Japanese rivals in terms of new orders in the third quarter of the year, reports Yonhap quoting  Clarkson Research Services.   South Korean shipyards bagged new orders totaling 2.11 million compensated gross tons (CGTs) last month, trailing Chinese shipbuilders at 3.48 million CGTs and Japanese companies with 2.36 million CGTs.  


Korea Shipping to Buy Up to 10 HMM Vessels

Photo: Hyundai Merchant Marine

The state-backed ship financing company Korea Shipping is looking to buy up to ten container vessels operated by Hyundai Merchant Marine (HMM), and lease them back to the shipping firm, says a report in Yonhap.   “Korea Shipping will provide some 720 billion won  (USD 633


Shipbuilder HII Declares Quarterly Dividend

Columbia Class Courtesy Huntington Ingalls Industries

 Huntington Ingalls Industries announced today that its Board of Directors has declared a quarterly cash dividend of $0.60 per share, payable on March 10, 2017, to shareholders of record as of the close of business on March 3, 2017. Huntington Ingalls Industries is America’s largest


Big Data: Top 5 Priorities for the Maritime Industry

Image: Shipbuilder

Many maritime organizations are already working with “Big Data” or are preparing to start working with it as part of the so-called digital transformation. Dutch ICT company Shipbuilder presents its top five priorities for the uptake of big data in the maritime sector.  


Asbestos on Board

File photo: Workers clean the interior of a cargo hold aboard the LST-1166. (U.S. Coast Guard photo/Pacific Strike Team)

What happens when a solution to one or many obstacles ends up becoming an even larger problem? For seamen, one such problem is asbestos.    Asbestos is a natural fiber that was mined for use in construction and household products


World’s Largest Hybrid Vessel Ordered

Image: Ulstein Verft

Norwegian ferry operator Color Line and shipbuilder Ulstein Verft have signed a Letter of Intent (LOI) for the construction of what will reportedly become the largest hybrid vessel in the world, a 160-meter-long passenger ferry.   The Fosen-designed ferry will be a plug-in hybrid with


Samsung Heavy Trims Operating Loss for 2016

Photo: Samsung Heavy Industries

 Samsung Heavy Industries (SHI), South Korea's second largest shipbuilder,  has managed to reduce its operating loss by around 90 percent due to a stabilization in shipbuilding and offshore construction.   SHI ended the year with an operating loss of KRW 147


Training Program Seeks to Develop Alaskan Shipbuilders

Photo: Vigor

A new shipbuilding and repair training program in Alaska aims to develop an advanced manufacturing workforce comprised of state residents.   Shipbuilder and repairer Vigor has teamed up with the maritime workforce development network Maritime Works for a public


Bath Iron Works Lays Keel of DDG 1002

General Dynamics Bath Iron Works celebrated the keel laying of the third and final Zumwalt-class destroyer, future USS Lyndon B. Johnson (DDG 1002), on January 30.   The U.S. Navy named the ship in honor of President Lyndon B. Johnson, the 36th president of the United States


Damen Briefs Local Suppliers Ahead of Australian OPV Bid

Perth briefing (Photo: Damen)

As Damen Shipyards Group prepares its SEA 1180 OPV Program tender to the Australian Ministry of Defense, the Dutch shipbuilder said it has held two industry briefings aimed at Australian companies active in the maritime and defense industries.  


Sanmar Builds Tug for West Central Africa

Photo: Sanmar

The newly built tugboat Ivindo, the latest in the Bogacay Class from Turkish shipbuilder Sanmar, has started her maiden journey to operate in West Central Africa.  This ASD design, exclusive to this builder, is known as the Robert Allan RAmparts 2400 SX Class but contains considerable


Hyundai Heavy Back in the Black

Photo: Hyundai Heavy Industries

 The South Korean shipbuilder Hyundai Heavy Industries (HHI) has reported a net profit of KRW 682.3 billion (USD 596.6 million) for the full year of 2016, returning from a loss of KRW 1.36 trillion (USD 1.18 billion) seen in the full year 2015.  


Screw Pumps for Ship Unloading and Product Transfer

Photo: Blackmer

Blackmer, part of PSG, a Dover company and a global leader in positive displacement, regenerative turbine and centrifugal pump, and reciprocating compressor technologies, says its S Series Twin Screw pumps deliver operational capabilities to meet the needs of shipbuilders and shippers


Metal Shark Launches New Website

Photo: Metal Shark

Louisiana-based shipbuilder Metal Shark has announced the launch of its new website.   The new metalsharkboats.com features an all new design boasting fresh content, increased functionality, and robust search tools that facilitate navigation within the company’s vast product portfolio


HHI Implements NAPA 3D Design Tool

Logo

Software and services provider NAPA has announced that Hyundai Heavy Industries (HHI) has implemented NAPA Steel’s 3D model-based ship structural design tool across its business. NAPA Steel provides an interactive 3D structural modelling interface


VARD bags Aker BioMarine Fishing Vessel Order

Aker BioMarine fishing vessel - Artist impression Photo VARD

Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of specialized vessels has secured a contract for the design and construction of one krill fishing vessel for Aker BioMarine in Norway. The new and innovative vessel of VARD 8 10 design is specially






 
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