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

People & Company News

New Jersey Transportation Chief to Resign

New Jersey Governor Chris Christie on Friday said his transportation commissioner Jamie Fox would step down by the end of the month to return to the private sector after only a year in the position.

Eletrobras says Compensation for Hydro Plants Could be $330 mln

Brazil's state-run utility Eletrobras said on Friday a report into six hydroelectric plants found the assets had a remaining value of 1.3 billion reais ($332

Brazil Court Allows Lula Questioning in Petrobras Corruption Case

Brazil's Supreme Court authorized the questioning by Federal Police of ex-President Luiz Inácio Lula da Silva as a witness in a broadening corruption case focused


Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

RigNet Partners Inmarsat to Offer Fleet Xpress

RigNet, Inc., a global provider of remote managed offshore communications solutions, telecoms systems integration services and collaborative applications to the oil and gas industry,

Italy's Eni Arrives Arctic as Shell Departs

As Shell retreats from the Arctic, the Italian oil giant Eni is making final preparations for its own oil exploration venture in the Norwegian Arctic, reports the Guardian.

Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | 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: 0.1412 sec (7 req/sec)