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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


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.  


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.  


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


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)


GTT, DSME Ink Cooperation Deal

GTT Chairman & CEO Philippe Berterottiѐre Photo World LNG Summit

GTT, the world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas) announces the signature of a cooperation agreement with the South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) for the


GTT, DSME Partner for NO96 Max Development

GTT signs a cooperation agreement with Daewoo Shipbuilding & Marine Engineering aiming at the industrialization of its NO96 Max technology   GTT, a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG)


Video: Catapult Testing on Aircraft Carrier Abraham Lincoln

Sailors signal steam catapult systems testing aboard the aircraft carrier USS Abraham Lincoln (CVN 72). Lincoln is in its final stages of testing all of its steam-powered systems as part of its refueling and complex overhaul (RCOH). (Photo: John Whalen/HII)

U.S. shipbuilder Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division has begun testing the updated catapult systems aboard the U.S. Navy aircraft carrier USS Abraham Lincoln (CVN 72), which is nearing the end of its midlife refueling and complex overhaul (RCOH).  


Nordana Sea Delivered to Symphony Shipping

Photo: Ferus-Smit

After successful sea trials, M.V. Nordana Sea was delivered to Symphony Shipping on February 11, 2016. Constructed by builder Ferus-Smit in the Netherlands (yard number 419), Nordana Sea is the third unit in a series of six newbuilds of the yard’s Ecobox design.  


Electric Boats Look Bullish

Image: General Dynamics Electric Boat

 General Dynamics Electric Boat expects to hire nearly 4,000 people in the coming years as it ramps up production on Navy submarines, the Associated Press reports.   Electric Boat is projecting a positive outlook for 2016 for revenue and employment, saying 1


Searching for a Better Way

Paine

Financing the Municipal, Tax-Exempt Workboat Sector. Poring over any of the many marine publications that seemingly arrive daily in your mailbox or inbox, you can get an idea of the depth and breadth of the current state of U.S. commercial marine vessel shipbuilding


SharpEye Radar for Trinidad & Tobago CG Patrol Craft

Photo: Kelvin Hughes

Kelvin Hughes, a designer and supplier of navigation and security surveillance systems, announced the installation of its new SharpEye upmast radar system on four new vessels commissioned by the Trinidad and Tobago Defence Force.  


Newport News Shipbuilding Rings in 130 Years

Dry Dock 1 at Newport News Shipbuilding is flooded prior to the official opening celebration of the shipyards first dry dock on April 24, 1889.  The Puritan-class monitor USS Puritan waits beyond the dry dock’s gate to enter. (Photo: HII)

Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division kicked off its 130th anniversary celebration January 28.   Newport News, the sole designer, builder and refueler of U.S. Navy aircraft carriers and one of two providers of U.S


Cosco Bags Contract for Trailing Suction Hopper Dredger

Image: Cosco Shipyard

 COSCO (Guangdong) Shipyard Co., Ltd, has secured a  contract from a European buyer to build one 15, 000m 3 Trailing Suction Hopper Dredger.    The Singapore-listed shipbuilder COSCO Guangdong and the buyer have agreed  to keep the contract price  confidential


Another Brutal Year for Korean Shipyards?

Image: Samsung Heavy Industries

 2016 could be a brutal year for Korean Shipyards. Yonhap reports that the country's shipbuilders failed to clinch any new orders in January, underscoring the protracted slump in the global shipbuilding segment.   "January is usually an off-season for shipbuilders


First of 3 New Pilot Boats Launched for Milford Haven

St Brides (Photo: Mainstay Marine)

St Brides, the first of three 19-meter pilot boats built by Mainstay Marine for the Port of Milford Haven, has recently been launched.   Shipbuilder Mainstay Marine Solutions called the £3.6 million contract a flagship project, with delivery for the second and third vessels due in


HHI to Localise Main Equipment for Offshore Plants

Logo

Hyundai Heavy Industries and Doosan Heavy Industries Collaborate in Localizing Main Equipment for Offshore Plants   Seoul, South Korea – February 4 – Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, announced that it has signed a memorandum of understanding


Fincantieri Launches Majestic Princess for China

Majestic Princess (Photo: Fincantieri)

Italian shipbuilder Fincantieri has launched its first cruise ship destined for the Chinese market, and will now begin interior fittings ahead of the vessel’s delivery scheduled for spring 2017.   The newbuild Majestic Princess is the third ship of the Royal Princess class built for


Australia Submarines: It is Japan vs. France

Soryu-class submarine: Japan Navy

 While Japan is confident it has proven itself the best contender to build Australia's new submarines, the French have moved to undermine Japan’s bid to build the navy’s new submarines.   Representatives from Mitsubishi Heavy Industries (MHI)


Pentagon: Cut in LCS Ship Program 'Not an Indictment'

U.S. Deputy Defense Secretary Robert Work said the Pentagon's plan to truncate the Littoral Combat Ship program at 40 ships instead of 52 reflected budget pressures and was "not an indictment" of the program.   Lockheed Martin Corp and Australia's Austal each build different






 
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