SHI Backlog: 110 Vessels

Thursday, March 06, 2003
Someone forgot to inform South Korea's Samsung Heavy Industries (SHI) the world economy is in turmoil. SHI, one of the world's largest shipbuilders, reportedly won a $1.1 billion in orders from Canada and Europe. The deals bring the shipbuilder's backlog to 8.2 million gt, representing 110 vesssels, a workload that should keep the yard busy for about 2.5 years. The new contracts represent 13 containerships and seven tankers, with ships for Seaspan Container Lines Ltd of Canada and Reederei Claus-Peter Offen GmbH & Co of Germany. Meanwhile, the news from North America was not so bright, as defense company Northrop Grumman announced that it had significantly lowered its earnings outlook, as the company ups its interest payments in an attempt to pare its debt faster. Northrop has been one of the more proactive acquisition companies in the urge to merge the U.S. defense industry, tripling its size from just three years ago with acquisitions such as Litton Industries Inc. and Newport News Shipbuilding Inc.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

That’s Not Coming on Board!

There’s hardly anything that can’t be shipped in a container. However, for ethical reasons, Hapag-Lloyd refuses to transport certain goods.   Anyone who regularly transports goods for third parties,

US Navy Awards $22mln Waterfront Inspection Deal

The U.S. Navy has awarded a five-year, $22 million contract to Appledore Marine Engineering, a specialist focusing exclusively on the inspection and design of marine infrastructure,

Offshore Operators Can Simplify Safety Equipment Logistics

Safety equipment manufacturer VIKING Life-Saving Equipment said its Offshore Safety Agreements are providing relief for offshore operators seeking to ensure compliance

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Port Authority Salvage Ship Repair Ship Simulators 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: 0.3882 sec (3 req/sec)