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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


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)


Newport News Shipbuilding Bags US Navy Submarine Contract

Image: Huntington Ingalls Industries

 The U.S. Navy has given Newport News Shipbuilding a $106 million contract to provide engineering and industrial support for submarines.    Huntington Ingalls Industries, parent company of Newport News Shipbuilding, said the contract will be worth a total of $564 million


Ingalls Begins Building US Navy’s Next Destroyer

Ima Black reacts after starting a plasma cutter machine at Ingalls Shipbuilding, officially beginning construction of the Arleigh Burke-class destroyer Delbert D. Black (DDG 119), which is named in honor of her late husband. (Photo by Andrew Young/HII)

Ingalls Shipbuilding has begun fabrication of Destroyer Delbert D. Black (DDG 119) for the U.S. Navy   Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division Tuesday marked the start of fabrication for the U.S. Navy’s Arleigh Burke-class (DDG 51) guided missile destroyer


New Tanker Delivered to Ardmore Shipping

Ardmore Chinook (Photo: Ardmore Shipping)

25,000 DWT IMO 2 product and chemical tanker ship, Ardmore Chinook, joins Ardmore fleet   Ardmore Shipping Corporation announced that its latest newbuild tanker vessel, the Ardmore Chinook, was delivered by Japanese shipbuilder Fukuoka Shipbuilding Co


Korean Shipyards in Troubled Water

Photo: Hyundai Heavy Industries

 Struggling with technology and a plunge in oil prices that has discouraged exploration, Korean vessel makers are racking up debt and could show billions of dollars in losses, reports Bloomberg.   The Big Three shipbuilders in South Korea ventured into offshore oil rigs starting around


First Gas Turbine-powered LNG Carrier Granted AIP

Shin Hyun-soo, CTO of HHI (sixth from left) and Jeremy Barns, Commercial Marketing Director of GE Aviation Marine (seventh from left) are holding the AIP certificate that HHI and GE received from Lloyd’s Register for COGES Powered 174,000 m3 LNG Carrier (Photo: HHI)

Hyundai Heavy Industries (HHI) announced it has jointly developed world’s first gas turbine-powered 174,000 m3 LNG carrier with GE Aviation and Marine and has secured Approval in Principle (AIP) on the vessel from the U.K.-based Lloyd’s Register.  


KR Overhauls Hull Structure Software

IACS member classification society the Korean Register (KR) informs it has overhauled its SeaTrust-HullScan software package, a ship design support solution that analyzes and appraises a vessel’s. According to KR, the update will deliver efficiencies when applying the incoming Harmonized


Mingde Heavy Restructuring Plan in Doubt

Image: Nantong Mingde Heavy Industry

 Nantong Mingde Heavy Industry (NMHI), a subsidiary of the financially troubled shipbuilder Jiangsu Sainty Marine Corporation, has missed the June 26 deadline to submit its restructuring plan to the Nantong People’s court.  


Davie Wins Icebreaker Life Extension Work

Photo: Davie

Davie awarded vessel life extension (VLE) contract for Canadian Coast Guard (CCG) icebreaker vessel   Canadian shipbuilder Davie informs it has been awarded a $16 million contract to refit and upgrade the CCGS Henry Larsen, a CCG T1200-Class Icebreaker based in St. John’s, Newfoundland


Sub France Wants Australia to Buy

Barracuda-class submarine. Photo by DCNS

 The French company DCNS has released details of the new submarine it wants to build for Australia as a replacement for the navy's Collins subs.   DCNS is offering Australia a new submarine design it calls the Shortfin Barracuda as its contender in the $50 billion new submarines project


USCG’s New Cutter Sails from Ingalls

The 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 will be commissioned on August 8 in


More than 100 Shipbuilders Lose Jobs at ASC

Warehouse facilities and workers at ASCs submarine construction and maintenance facility at Osborne, South Australia. Photo: ASC Pty Ltd.

 South Australian defence shipbuilding company ASC has axed 101 blue collar jobs from its facility at Osborne near Port Adelaide.    The submarine and shipbuilder ASC has let go 101 contractors from its facility in Adelaide in a move it says will increase productivity on its air


MES Delivers Ninth Eco-Ship Bulk Carrier

Photo: MES

Japanese shipbuilder Mitsui Engineering & Shipbuilding Co., Ltd. (MES) announced it has completed and delivered a 66,000 dwt type bulk carrier M.V. Draftvader (MES Hull No.1881) at its Tamano Works on July 17, 2015 to Solaris Marine Ltd., Liberia.


Daewoo Shipbuilding Bags LNG Carrier Order

Photo: DSME

 South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering said it has received an order for a new LNG carrier from a ship management specialist Chandris of Greece.  The new deal calls for Daewoo to deliver the LNG vessel, able to carry 173,400 cubic meters of natural gas


HHI’s New Weather System Helps Plan Sea Trials

Sea Weather Forecasting System Concept Diagram (Image: HHI)

A new system has been developed by South Korean shipbuilder Hyundai Heavy Industries (HHI) to help better manage sea trial schedules for vessels built at its Ulsan yard.   The new Sea Weather Forecasting System, developed by HHI in collaboration with Korea Institute of Ocean Science &


GTT Bags Order from Imabari

GTT, a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), announced it has received a new order in June for one liquefied natural gas carrier (LNGC) vessel to be built by the Japanese shipbuilder Imabari Shipbuilding Co., Ltd






 
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