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

Shipbuilding

Coatings Quietly Helping to Control Noise

U.S. Navy’s AGOR Research Vessels are built to be as operationally quiet as possible. That’s where Mascoat’s Sound Control-dB coatings come in. When the U.S. Navy

Wärtsilä Launches AHTS Vessel Design at Sea Asia

Wärtsilä launched a new anchor handling tug supply (AHTS) vessel design at this year's Sea Asia exhibition held in Singapore from April 21-23.   According to the designer,

Royal IHC introduces IHC Workhorse

Royal IHC has announced an extension to its innovative range of vessels with the introduction of the IHC Workhorse. This new design for a hybrid anchor handling

Coast Guard

Philippines: China Intimidating Its Fishing Boats

Filipino activists denounced China's coast guard on Tuesday for turning water cannon on Philippine fishing boats in disputed waters, near where hundreds of Filipino

Bulk Carrier Grounds in St. Lawrence Seaway

A 621-foot bulk carrier ran aground near Wellesley Island in the St. Lawrence River, Monday. The U.S. Coast Guard (USCG) is responding.   The Bahamian-flagged

Shipwrecked Bodies Brought Ashore, EU Proposes Doubling Rescue Effort

The European Union proposed doubling the size of its Mediterranean search and rescue operations on Monday, as the first bodies were brought ashore of some 900 people

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1853 sec (5 req/sec)