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

Shipbuilding

Bollinger Fourchon: 13 Years Without a Lost Time Accident

Bollinger Shipyards, Inc. announced that their Bollinger Fourchon, L.L.C. facility has worked 13 years without a lost time accident. Building on a philosophy that starts at the top,

Regulations Threaten Superyacht Innovation

To increase innovation within the superyacht industry, designers need to work with flag states, classification societies and naval architects to ensure regulations are workable, as said by experts.

News Flash! Greek Shipowners Prefer Bulkers

The buying interest from Greek ship owners is focused on bulkers to an increasing extent, BIMCO said. Data from VesselsValue.com reveal that Greek owners were at

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.1045 sec (10 req/sec)