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

People & Company News

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Japan Military Wants China "Crisis Management" Pact

Japan's highest-ranking military officer on Friday urged an early start to a "crisis management" mechanism with China amid conflicting claims to a group of tiny East China Sea islands.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.2454 sec (4 req/sec)