Biggest Shipyards May Keep High Prices to Counter Costs

Thursday, December 28, 2006
Bloomberg reported that Hyundai Heavy Industries Co. and other shipbuilding companies may succeed in keeping vessel prices at record highs for a third year as they seek to shield earnings against dropping orders and higher steel costs. The top-three yards, Hyundai Heavy, Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co., all from South Korea, will book new orders around today's all-time highs, according to four out of five analysts surveyed by Bloomberg. The companies will give their outlooks for 2007 as early as this week. South Korea's yards took almost half of this year's orders in the world's $100 billion ship industry, as transporters turned to them for the largest and most expensive vessels. With business set to fall from this year's peak, the builders want to avoid a repeat of 2004, when they didn't foresee a jump in the cost of steel plates used in hulls that wiped out two-thirds of profit. Liquefied-natural-gas tankers, the most complex and expensive type of ship, cost a record $220 million in early December compared with $205 million at the end of last year, according to London-based Clarkson Plc, the world's largest ship broker. A very large crude-oil carrier cost an all-time high of $129 million early this month, 7.5 percent more than a year ago. Daewoo Shipbuilding leads its competitors in contracts for both those types. The largest tankers are more than 300 meters (984 feet) long, equivalent to three football fields, or about the height of the Eiffel Tower. Source: Bloomberg
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

German Shipyard FSG Re-organizes Top Management

Flensburger Schiffbau-Gesellschaft (FSG) says it will be headed by a new management team from January 1st 2015, details as follows: Current Chief Technology

Bid to Rescue Clyde Shipbuilder Ferguson

Jim McColl, one of Scotland's richest men, has tabled a bid to rescue collapsed Clyde shipbuilder Ferguson and aims to return the yard to its former glory by creating hundreds of jobs,

US’ Largest Floating Drydock Heads to Portland

The country’s largest floating drydock, the Vigorous, is headed for Portland this weekend. The drydock, a piece of equipment used to lift vessels as large as cruise ships out of the water,

Ship Sales

TMT CEO Files $100m IP Suit Over Vessel Sale

Hsin-Chi Su, Chairman and CEO of Today Makes Tomorrow Group (TMT) launched a suit in Texas federal court on July 28, 2014, alleging that a planned bankruptcy sale of three company ships, including M.

The World's Most Expensive Jones Act Tanker

The series highlighting the world's most expensive active vessels from online ship intelligence and information service VesselsValue.com focuses this week on the most expensive tanker vessel,

UK's Condor Buys Austal 102 Fast Ferry

Condor Ferries says it has completed purchase of the Austal 102, a state-of -the-art high speed ferry which will operate between the Channel Islands and the UK.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.1452 sec (7 req/sec)