NASSCO, Daewoo Team to Build Jones Act Ships

Monday, April 03, 2006
General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics (NYSE: GD), and Daewoo Ship Engineering Company (DSEC), a wholly owned subsidiary of Daewoo Shipbuilding and Marine Engineering (DSME) based in Busan, Korea, announced a formal teaming agreement to build ships for the U.S. market under the Jones Act.

The Jones Act, among its many provisions, requires ships that carry cargo between U.S. ports to be built in the United States.

Under the agreement, DSEC will provide the detail designs, support services and some of the material necessary for ship production. NASSCO will also procure material and will provide the labor and facilities to construct the ships here.

"NASSCO is teaming with a world-class ship design and construction support company to address an important market for this shipyard," said Frederick J. Harris, president of General Dynamics NASSCO. "This extraordinary partnership with DSEC will help NASSCO retain its position as a leading builder of ocean-going Jones Act ships."

"We are very much impressed by NASSCO’s naval ship-based advanced technology, management system and well-organized personnel, as well as its business strategy," said In-Sung Lee, president and CEO of Daewoo Ship Engineering Company. "We believe this collaboration could be a cornerstone for U.S.-Korean shipbuilding partnerships as well as build upon both companies’ remarkable records in the market."

DSEC was founded to contribute to the shipbuilding industry in accordance with the global network business plan of DSME. It supplies an integrated shipbuilding engineering package that is composed of ship design, procurement and inspection services to overseas shipyards, based on DSME’s experience.

With the world’s second largest shipyard, DSME has a worldwide shipbuilding and offshore plant business. It is headquartered in Seoul, Korea, employs approximately 20,000 people worldwide and had 2005 revenue of approximately $5 billion. Additional information on DSME and DSEC can be found at www.dsme.co.kr and www.idsec.co.kr, respectively.

NASSCO is currently building its fourth double-hulled crude oil tanker for BP Shipping Company of Alaska, under a four-ship contract. In addition to the BP ships, NASSCO has contracts to build nine T-AKE combat logistics force ships for the U.S. Navy. Four of these ships are under construction; the first will be delivered later this year. Additional information on NASSCO can be found at www.nassco.com.

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

Shipbuilding

Tank Coating for Navig8 Chemical Carrier Newbuilds

Shipowner Navig8 is progressing application of Interline9001, an advanced cargo tank coating from AkzoNobel’s International marine coating product range, on a series

Lamprell Delivers Jackup Rig to Greatship

Lamprell announced it has completed construction on jackup drilling rig Greatdrill Chaaru, delivering the rig to Greatship Global Energy Services Pte. Ltd.    Greatdrill

Food Handling Products Ordered for Ovation of the Seas

ALMACO informs it has been contracted to deliver food handling products for the Royal Caribbean International’s Ovation of the Seas, the third Quantum-class ship

Navy

Australia Announces Patrol Boat Tender

Tender announced for Pacific Patrol Boat Replacement Project   The Australian Government announced a Request for Tender (RFT) to replace the Pacific Patrol Boats

6 NATO Ships Begin Joint Black Sea Exercise

Six NATO warships, including Turkish, Bulgarian and Romanian vessels, have arrived to the Black Sea to start joint training exercises.    NATO ships assigned

Fire Aboard US Navy Ship

A fire broke out aboard a U.S. Navy amphibious dock landing ship USS Gunston Hall (LSD 44) at approximately 2 p.m. yesterday while the ship was undergoing maintenance

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators 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: 0.1257 sec (8 req/sec)