S. Korean Shipbuilders Rushing to China for Hull Production

Tuesday, February 14, 2006
According to reports, South Korean shipbuilders are scrambling to move production of ship hulls to China to take advantage of its cheap labor and vast factory sites, industry sources said. Making hull blocks is mainly labor-intensive, so it is cost effective to manufacture hull blocks in China and assemble them back in South Korea, the sources said. Leading the pack is Samsung Heavy Industries Co., the world's third-largest shipbuilder, which has been operating Samsung Heavy Industries Ningbo Co., with an annual capacity of 120,000 tons, since 1997. Samsung Heavy Industries plans to expand the Ningbo factory in southeastern China to raise its capacity to 200,000 tons starting next year. In addition, the company is searching for a site to construct another factory for hull blocks in the northeastern Shandong province. Daewoo Shipbuilding & Marine Engineering Co., the world's No. 2 shipbuilder, is building a factory in the northeastern port city of Yantai to produce 200,000 tons of hull blocks annually beginning early next year.

STX Shipbuilding Co., ranking No. 8 globally, plans to invest $100 million to build a factory for hull blocks in Shandong province. The company failed to disclose a specific schedule for the factory construction. Global industry leader Hyundai Heavy Industries Co. has not unveiled any plans to shift its hull production. Source: CRIENGLISH.com

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

People & Company News

Matson Declares Q2 2014 Dividend

Leading US carriers in the Pacific, Matson, Inc., apprises it has declared a second quarter 2014 dividend of $0.16 per common share. "Today's authorization continues

Cold War Revival? British Military on Guard

UK's Ministry of Defence says that warship HMS Dragon & an RAF Typhoon aircraft have been in contact with their Russian counterparts this week, as follows: The

Oceanteam Financial Transformation Aids 2013 Business

Diversified offshore shipping company Oceanteam's CEO, Haico Halbesma, writes in the Annual Report 2013 that it was a year of consolidation and operational focus for Oceanteam Shipping ASA.

Shipbuilding

Reps. Byrne and Palazzo Visit Ingalls Shipbuilding

Reps. Bradley Byrne, R-Ala., and Steven Palazzo, R-Miss., visited Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division Wednesday. The congressmen,

Damen Opens JV Yard in Vietnam

On March 20, 2014, Vietnamese Minister of Transport Nguyen Hong Truong, cut the ribbon for the latest addition to Damen Shipyard Group’s portfolio. Damen Song Cam is a new yard,

HHI to Deploy 3DEXPERIENCE Design Platform

Hyundai Heavy Industries Selects Marine & Offshore Industry Solution Experiences for Design and Engineering of Offshore Structures Dassault Systèmes, the 3DEXPERIENCE Company,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair 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: 0.1404 sec (7 req/sec)