Shipbuilders Cash In on Special Vessels

Monday, November 21, 2005
According to reports, South Korean shipbuilders are profiting more from selling high-value units such as offshore plants and liquid gas carriers than ever. Daewoo Shipbuilding and Marine Engineering, already has won a record-high $7 billion in building orders this year, which exceeds last year's record of $6.6 billion. Such high performance was largely affected by the sales of four offshore oilrig units, which amounted to $1.9 billion in total. The company also has recorded steady sales of LNG carriers, capped with a $430-million order for a pair of LNG carriers from a Norwegian company last month.

Hyundai Heavy Industry is benefiting from oil prices and an increase in the demand for gas energy. It has won contracts to build 16 large liquefied petroleum gas (LPG) carriers this year, taking around 60 percent of worldwide market share. The company currently has a backlog of 32 vessels and has delivered 36 LPG carriers worldwide. Besides the satisfying results with LNG ships, Daewoo's growth in oil rig sales is even more encouraging. The company won only one offshore plant order last year. They sold seven units each in 2000 and 2001, but all of those contracts were relatively small, amounting only $550 million in total. The largest contract of this year, which was made in February, was a $978-million order to build a floating oil production, storage and offshore loading (FPSO) facility for Star Deep Water Petroleum, a Nigerian unit of Chevron Texaco. Then Okpo, a South Kyongsang province-based company won an order for a $500-million semi-submersible drilling rig for the Norwegian company Seadrill in September, and was awarded a $480-million contract to build two oil-drilling vessels for Singapore-based Frigstad Offshore. The sales of the offshore plants account for 28 percent of Daewoo's total orders this year. The future also looks bright for the company as it sees that there will be around 20 more orders for offshore oil plants over next two to three years due to soaring oil prices. Source: Korea Times

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

PIRIOU Delivers 53-meter FSIV

French boat builder PIRIOU has delivered the 11th of its 53- by 10-meter Fast Supply and Intervention Vessels (FSIV) to Suisse Outremer AG, to be operated by ABC Maritime AG.

Damen Delivers Survey Vessel to Fugro

Fugro Frontier is the third vessel in a series received by Fugro during 2014   Three months after its last delivery, Fugro has received the third of a series

Becker Marine Delivers Rudder for Largest Containership

Becker Marine Systems delivers rudder for the largest container ship in the world   At 19,000 TEU, the largest container ship in the world is now picking up speed

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1578 sec (6 req/sec)