S. Korea's Shipbuilders Exceed $30b

Monday, December 11, 2006
According to Korea Herald, South Korea's top three shipyards won stronger-than-expected shipbuilding orders worth over US$30 billion in the first 11 months of the year on strong contracts, industry sources said Sunday. The three -- Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. -- clinched orders worth a combined $35.6 billion for ships and marine oil-drilling facilities by the end of November, the sources said. They surpassed their yearly target of $28.5 billion by 25 percent and the value of their full-year orders is forecast to exceed the $37 billion, given ongoing contracts, they said. The shipbuilders' impressive performance in the first 11 months was attributed to strong demand for oil-drilling facilities and high-priced ships such as LNG carriers and large container vessels.

In the first 11 months of the year, Hyundai Heavy Industries, the world's No.1 shipbuilder, received orders of $13.3 billion, with Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries, the industry's No. 2 and No. 3 players, garnering orders of $10.6 billion and $11.7 billion, respectively. In particular, Daewoo Shipbuilding & Marine Engineering topped the list of the world's offshore plants, receiving orders of offshore plants worth $4.2 billion, more than tripling last year's orders of $1.47 billion.

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

Shipbuilding

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

COSCO Delivers Bulker

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd a subsidiary of the Company's 51% owned COSCO Shipyard Group Co.

Navy to Commission Submarine North Dakota

The Navy will commission its newest attack submarine North Dakota, during a ceremony Saturday, Oct. 25, 2014, at Submarine Base New London in Groton, Connecticut.

Coast Guard

USCG to Ensure Safety During World Series

The Coast Guard and local agencies are working to ensure the safety of boaters and baseball fans during World Series games at AT&T Park this weekend. The

USCG Monitoring Barge adrift in Beaufort Sea

U.S. Coast Guard personnel and Canadian federal agencies, including the Canadian coast guard, Transport Canada and Environment Canada, are monitoring a 134-foot

EUCAP Nestor Train 30 Somali Coast Guards

On 21 October, the European Union’s Maritime Capacity Building Mission in the Horn of Africa and Western Indian Ocean (EUCAP Nestor) celebrated the successful completion of a two month Mentoring,

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1391 sec (7 req/sec)