S. Korea: Shipyards May Raise Prices 5%

Thursday, June 22, 2006
South Korea's seven shipbuilders, which delivered 38 percent of the world's vessels in 2005, said they may raise the prices of new ships by about five percent to take advantage of record orders and protect their profits from rising costs, according to a report from Bloomberg. Higher prices protect shipbuilders' earnings from the Korean won's gains against the U.S. dollar and shield them from steel costs that have risen 70 percent since 2003. A third year of rising ship prices add to the costs of Taiwan's Evergreen Marine Corp. and other shipping lines which carry an estimated 90 percent of global trade. The price of a supertanker that can hold 2 million barrels of oil rose 4 percent to about $125 million in December, the Korea Shipbuilders Association said, citing Clarkson Plc. The price of a vessel that can carry 3,500 20-foot containers increased 2.8 percent to $54 million from last year. Hyundai Heavy Industries Co. and other South Korean shipbuilders received a record $12 billion in new contracts in the first quarter as fleet owners ordered vessels before a United Nations rule came into effect in April banning single- hull ships by 2010. (Source: Bloomberg)
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

LNG

Petrobras, Mitsui Study South Brazil LNG Import Terminal

Brazil's state-run oil company Petroleo Brasileiro SA and Japanese trading house Mitsui Corp will study building a liquefied natural gas (LNG) terminal in the country's southernmost state,

Ukraine launches restricted operation

Ukrainian forces launched a "special operation" on Tuesday against separatist militia in the Russian-speaking East, authorities said, although aside from a landing

OSC Plans Fleet Expansion through 2018

State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.0953 sec (10 req/sec)