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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

Winners of International Seafarers' Welfare Awards

The winners of ISWAN's International Seafarers' Welfare Awards 2016 were announced on 24th June at a high-profile ceremony held in Manila, the Philippines. The

Maritime Needs More Women Power

United Nations  International Maritime Organization (IMO) Secretary- General Ki Tack Lim pushed for the increased involvement of women in the seafaring industry

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0827 sec (12 req/sec)