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Shipbuilders

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


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.  


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)


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)


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.  


Senate Markup Provides Funding for Oceanographic Vessels

File Image: NOAA Research / Survey vessel

Last week, the Senate Appropriations Committee marked up and approved a Commerce, Justice, Science bill that would provide $75 million to build a new Regional Survey Vessel for the National Oceanic and Atmospheric Administration (NOAA) and $159 million for the design and construction of three


Ingalls Begins Building US Navy Destroyer

Cmdr. Dave Murray, post-delivery officer for the U.S. Navy’s DDG 51 program, presses the button to start fabrication of the Ingalls-built destroyer Frank E. Petersen Jr. (DDG 121). Photo by Lance Davis/HII

Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division marked the start of fabrication for the Arleigh Burke-class (DDG 51) destroyer Frank E. Petersen Jr. (DDG 121) for the U.S. Navy. The start of fabrication signifies that 100 tons of steel have been cut.  


Ulstein Verft's First Wind Service Vessel Launched

(Photo: Ulstein Group/Marius Beck Dahle)

Shipbuilder Ulstein Verft has launched its first vessel within the renewable energy segment, and also the first with the newly-developed X-STERN hull line design.   The service operation vessel (SOV) for the offshore wind industry is one of two being constructed for Bernhard Schulte Offshore


Samsung Heavy Loses $4.6-bln FLNG Order

Photo: Samsung Heavy Industries Shipyard

 South Korea’s shipbuilder Samsung Heavy Industries (SHI), the world’s third-largest shipbuilder,  has received a contract termination for three floating liquefied natural gas (FLNG) units from oil and gas giant Royal Dutch Shell Plc.  


Chinese Shipyard Turns Into Car Parking

Image by Mbella

 To cope up with so much financial strain, Hong Kong-based shipbuilders China Ocean Industry Group – formerly known as China Ocean Shipbuilding Industry Group – is literally being turned into a parking lot, reports Bloomberg.  


Samsung, Daewoo Merger on the Way?

Photo: Samsung Heavy Industries

 As the Korea government is pushing for restructuring of the faltering shipbuilding industry, speculation grows over a possible merger between the country’s two major shipbuilders — Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering, reports Korea Herald.


Austal Lines up Long-term Patrol Boat Work

Austal Pacific Patrol Boat Replacement Design (Image: Austal)

Australia based shipbuilder Austal Limited has been awarded preferred tenderer status by the Commonwealth of Australia for the Pacific Patrol Boats Replacement (PPBR) Project involving the construction of up to 21 steel-hulled patrol vessels and through life sustainment over 30 years in a total


Cochin Shipyard, Samsung Heavy Pact for LNG Ship Project

Image: Cochin Shipyard Limited (CSL)

 Cochin Shipyard Limited (CSL) has signed a memorandum of understanding (MoU) with South Koreas second-largest shipbuilder, Samsung Heavy Industries (SHI) to team up to bid for the GAIL (India) Ltd tender to build liquefied natural gas (LNG) ships.   


Metal Shark Awarded MARAD Grant

Photo: Metal Shark

Louisiana-based shipbuilder Metal Shark has been awarded a small shipyard grant by the United States Department of Transportation’s Maritime Administration (MARAD). Metal Shark was one of nine shipyards selected for an award from a field of 118 applicants.  


Fincantieri Hosts Coin Ceremony for MSC Seaside

Photo: Fincantieri

Cruise shipping company MSC Cruises and shipbuilder Fincantieri today marked a milestone in the building of MSC Cruises’ latest newbuild MSC Seaside with the celebration of the traditional maritime coin ceremony held at the Monfalcone, Italy shipyard.  


SCA Presents Safety Award to Bollinger

Bollinger Shipyards was presented the 2015 “Award for Excellence in Safety” for the 11th consecutive year by the Shipbuilders Council of America (SCA) on April 14, 2016, during the association’s Annual General Membership Meeting in Washington, D.C.  


SCA: More Naval Vessels Protect Economy, Provide Security

Matthew Paxton, SCA President

Shipbuilders Council: Proposed Budget Enables Naval Forward Presence and Protects U.S. National Security Interests. The Shipbuilders Council of America (SCA) today recognized the House Armed Services Seapower Subcommittee for its robust markup of the 2017 shipbuilding budget


South Korea Eyes Iran's Shipping Industry

Irans Ambassador to South Korea Hassan Teherian asks South Korean companies to expand investments into his country. Photo credit: Yonhap

 South Korean companies are briskly moving to tap into Iran's fast-growing shipping industry, regarding the Iranian boom as a breakthrough to their prolonged business slump amid the global economic slowdown.   According to  IRNA


World Marine Earns SCA Safety Awards

World Marine, LLC has received the Shipbuilders Council of America’s (SCA) annual “Excellence in Safety” award as well as the “Improvement in Safety” award. SCA, the national association representing the U.S. shipyard industry


Incat Crowther Supplies Crewboat Design, Build Kits

Image: Incat Crowther

Incat Crowther has been awarded a contract with shipbuilder Astinave EP of Guayaquil, Ecuador for the supply of vessel design services and aluminum component kits for a pair of 22.5m monohull crewboats currently under construction for an undisclosed client






 
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