Hyundai Heavy to Import Chinese Steel Plates

Monday, February 13, 2006
According to reports, Hyundai Heavy Industries Co., Ltd., has signed a Memorandum of Understanding with Baoshan Iron & Steel Co., Ltd. to import wide and heavy plates for shipbuilding. Hyundai Heavy Industries plans to import 180,000 tons of steel plates from Baosteel yearly. Hyundai Heavy Industries said that the price was lower than that offered by Japanese steelmarkers and a South Korean report said that South Korea would gradually enlarge imports of China- made steel plates for shipbuilding. South Korean shipbuilders mainly bought wide and heavy plates from Japan besides the local supply. But the two sides have had different opinions on pricing since the second half of 2005. South Korean shipbuilders believed that export prices of plates for shipbuilding should be lowered now that the global steel price fell.

Baosteel started production of the five-meter wide and heavy plate last year and the first phase is designed to reach an annual production capacity of 1.4 million tons. Previously, no steelworks in mainland China was able to produce five-meter wide and heavy plates and most domestic shipbuilders had to import such plates from South Korea and Japan. Production of wide and heavy plates in Baosteel, whose parent company is a Fortune Global 500 company, is believed to help reduce procurement costs of the Chinese shipbuilding industry. Source: SinoCast

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

Shipbuilding

ClassNK Approves Fillet Welding Consumable

Classification society ClassNK announced that it has granted type approval for the new MX-200F welding consumable, developed by Kobe Steel Co., Ltd. (KOBELCO) to

Damen Lays Keel for Indonesian Naval Frigate

In accordance with the agreed planning in the contract for the construction of a Damen SIGMA Frigate for the Indonesian Navy, the keel laying ceremony has taken place on April 16,

Offshore Service Vessels Design Innovation

It could be argued that no other sector of the maritime market has experienced a design innovation revolution quite like the Offshore Service Vessel (OSV) market.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Port Authority Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0974 sec (10 req/sec)