POSCO to Up Ship Steel Output

Thursday, July 06, 2006
POSCO plans to increase production facilities by 2009 to raise its annual production of steel for shipbuilding by 1.1 million tons to address a shortage in the domestic industry, the company said on July 5. POSCO’s annual production capacity of ship steel is projected to rise to 4.7 million tons in the next three years, compared with the current 3.6 million tons, the company said. The steel maker will invest $95.14 m to increase and revamp production facilities. It will also boost productivity of TMCP steel, which provides high strength and welds without heat treatment. South Korea currently imports 500,000 tons of TMCP steel a year, mainly from Japan. POSCO’s move is to relieve shortages in high-quality steel for shipbuilding, offshore platforms and plants. South Korea’s shipbuilding industry is expected to consume 6 million tons of steel this year. With domestic steel makers producing 4 million tons a year, shipyards need to import 2 million tons. (Source: http://times.hankooki.com)
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

OW Bunker Bankruptcy has ‘Limited Impact’ on Monjasa

Though OW Bunker’s collapse has varyingly affected many companies around the globe, Danish bunker fuel provider Monjasa A/S said in a statement that the news holds

Panama Canal Delegates Meet with Japanese Customers

A Panama Canal delegation headed by Administrator Jorge L. Quijano visited Japan to hold discussions with the Japan Shipowners’ Association (JSA) and the major Japanese shipping lines,

Sustainability Report: Carnival Ahead of Emissions Goal

Carnival Corporation & plc released a report today detailing its sustainability efforts, including initiatives which enabled the company to meet its corporate goal

Offshore

Governor: Russia Will Have No Competitors in the Arctic

The Governor of Yamalo-Nenets Autonomous Region, Dmitry Kobylkin, presented the annual report on the situation in the autonomous region. "We have been confronted with new challenges.

Ulstein Verft Ready for Big Scale Construction

Ulstein Verft’s largest vessel so far is under full production these days. Sections for hull 302, an offshore construction vessel for Island Offshore/Edison Chouest Offshore,

TransAtlantic Scrubber for SECA 2015

TransAtlantic and Stora Enso have signed and started the installation of the first order of a new innovative scrubber that washes out sulphur oxides from ship

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair 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: 0.2679 sec (4 req/sec)