POSCO to Invest to Boost Steel Plate Output

Friday, July 20, 2007
Reuters said that POSCO Co. Ltd. said on Friday it would invest a total of $2b to boost output of steel plates for ships as the booming shipbuilding industry led to higher demand for the product. POSCO , the world's fourth-largest steel maker, said in a statement it would spend $1.96b to build a new domestic plant and related facility to produce steel plates. The plant, which will have a capacity of 2 million tonnes a year, will be completed by July 2010.

With the new plant and planned upgrades to its existing facility, POSCO plans to raise its steel plate output to 7 million tonnes a year in 2011 from 3.8 million estimated for this year, the company said. The decision comes as surging demand for steel plates from shipbuilders and heavy industry companies keep prices firm. POSCO on Monday reported its quarterly profit jumped 55 percent on strong demand and raised its 2007 profit and sales forecasts. percent gain. ($1=915.6 Won) Source: Reuters

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

Contracts

Diana Extends Containership Time Charters

Diana Containerships Inc. announced direct continuation of time charter agreements for m/v Cap Domingo and m/v Cap Doukato   Diana Containerships Inc., a global

BMT Supports Samalaju Port Development

BMT subsidiaries in the Asia-Pacific region have been awarded a contract to provide design expertise for an advanced bulk-material handling system for the emerging port of Samalaju in East Malaysia.

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Shipbuilding

MacGregor Deck Equipment for Intership's Eco-bulkers

MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers.

Seacor Takes Delivery of 10,800 HP Crewboat

Seacor Marine is building ever larger and more powerful mono-hull crew/supply boats. The first of these to be delivered is the 202x34-foot Alex F. McCall with some very impressive statistics.

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics 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: 0.0932 sec (11 req/sec)