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 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Maersk Line CEO: 11 New Ships Likely in Q2 2015

Maersk is considering ordering 11 container megaships in the second quarter of 2015, the Wall Street Journal reported today. "We need to grow with the market and increase our capacity by 425,

Drying Cabinets Handy On Board Nexus

In 2014, Pronomar equipped Van Oord’s offshore cable laying vessel Nexus with three drying cabinets, each responsible for the drying of eight sets of workwear.

Keels Laid for Two Aluminum OSVs

Triangle Marine Services and Marine Core & Charter host keel laying ceremony for two Aluminum Fast Offshore Support Vessels   UAE-based shipbuilder Triangle Marine

Ship Sales

Europe Should Resume Shipbuilding

In the EU journal Parliament, Portuguese Member of European Parliament João Ferreira has proposed a five-point plan to stimulate growth in the EU shipbuilding industry.

General Maritime to buy Navig8 Crude Tanker

General Maritime Corp, which operates crude oil tankers, will acquire Navig8 Crude Tankers Inc in a stock-for-stock deal, the two companies said in a statement.

Maybulk to Build Five More Ships

Unfazed by the tough market conditions that the shipping industry is faced with, Malaysian Bulk Carriers Bhd (Maybulk) said it will move forward with fleet renewal activities.

 
 
Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics 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: 0.3518 sec (3 req/sec)