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

Shipbuilding

Imabari to Build 20,000TEU Containerships

Imabari Shipbuilding Co., Ltd. announced it has secured newbuild orders with the cooperation of Marubeni Corporation for 11 units of 20,000TEU Ultra-Large Container Carriers,

SSI Launches ShipConstructor 2015 R2.1

SSI has today released ShipConstructor 2015 R2.1 software.   The software release comes in response to emerging ship design, engineering and building trends as

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

Ship Sales

ThyssenKrupp: Submarine Unit Not For Sale

German industrial group ThyssenKrupp is not in talks to sell its submarine unit nor is it in talks to sell its stainless steel unit VDM, its chief executive said on Friday.

Young to Head New Zealand Shipping Federation

The New Zealand Shipping Federation (NZSF) said it has appointed Annabel Young as its new executive director.  It said Ms Young was a National Party list MP from

Indonesia Joins Spain, Italy in Maritime Development Plan

Indonesia to have full cooperation in maritime infrastructure development from European countries Spain and Italy, says a report in Jakarta Post.  Spanish Ambassador

 
 
Maritime Careers / Shipboard Positions Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0457 sec (22 req/sec)