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China Shipbuilding Corporation News

18 Nov 2003

Sperry Marine to Supply IBS for New Container Ships

to supply integrated bridge systems (IBS) for 12 new container ships. Terms of the agreement were not disclosed. Marine. proprietary Voyage Management System software. communication station with Fleet 77 Inmarsat terminal. adjustments for loading dynamics and weather conditions. machinery. high-resolution flat-screen technology. training.

01 Dec 2003

Sperry Marine to Supply for Container Ships

Northrop Grumman Corporation’s Sperry Marine business unit has won orders from the China Shipbuilding Corporation shipyard in Kaohsiung, Taiwan, to supply integrated bridge systems (IBS) for 12 new container ships. Terms of the agreement were not disclosed. “The state-of-the-art bridge electronics suite is designed to enhance navigation safety by integrating all of the ships’ navigation and steering control systems,” said John DeMaso, president of Sperry Marine. The new ships, which are being built for Chilean ship owner Compañia Sudamericana de Vapores (CSAV) and German ship owner, Reederei Peter Doehle, will be fitted with a complete IBS featuring Sperry Marine’s proprietary Voyage Management System software.

20 Nov 2000

CP Ships Continues New Ship Spending Spree

CP Ships has taken the next step in its major fleet re-building program by signing a contract with China Shipbuilding Corporation of Taiwan for the construction of five geared 3,200 TEU containerships. They are designed to be employed in CP Ships' South American services. Delivery of the newbuildings will take place between mid-2002 and early 2003. The ships will measure 243 m long by 32.2 m wide, and will be equipped with 400 reefer plugs and operate at a service speed of 22.5 knots. Several containerships built by China Shipbuilding Corp already serve in the CP Ships fleet. With the China Shipbuilding contract, CP Ships has passed the half-way point in a series of retonnaging commitments…

21 Jun 2002

CP Ships Takes Delivery of Lykes Ranger

Ships Limited has taken delivery of the 3200 teu Lykes Ranger. It is the first in a series of new geared containerships being built under the company's $800 million ship replacement program and was delivered on schedule by China Shipbuilding Corporation in Kaohsiung, Taiwan. Lykes Ranger entered service on 20th June in Hong Kong to begin deployment in the Asia-Americas trade lane, where CP Ships has two twice- weekly services under the Lykes Lines and TMM Lines brands. It replaces the 3000 teu Hyundai Pioneer, which had been deployed on a short-term charter basis. With four sister ships also built by China Shipbuilding scheduled for deployment in the Asia-Americas trade lane by early 2003, customers will benefit from greater fleet uniformity and improved consistency and flexibility.

31 Aug 2006

CSBC Introduces New Measure to Up Operating Capacity

To elevate operational competitiveness, the state-run China Shipbuilding Corporation (CSBC) has recently worked out short-, medium- and long-term plans expected to help raise operational capacity. CSBC said the new plans would help the company raise the operating capacity by 20 percent, with the goal of achieving annual pretax earnings of $54.87m on sales of $1.21b by 2010. With the influx of shipbuilding orders, the CSBC racked up $17m in pretax earnings on cumulative sales of $359.75m in the first seven months of this year, while the company estimates it would be able to post $28.96m in pretax earnings on sales of $548.78m this year. The company said the short-term plan will help it raise overall production capacity by 20 percent and cut manpower costs by 10 percent in two years.

14 Nov 2005

Quintana Maritime Takes Delivery of Bulk Carrier

Quintana Maritime Limited took delivery of its second Capesize bulk carrier on November 11. The vessel, named Kirmar, was built in 2001 by China Shipbuilding Corporation in Taiwan and has a carrying capacity of 165,500 dwt. The purchase price of the vessel was approximately $68.4 million, of which Quintana had previously advanced the sellers a cash deposit of $6.85 million, or 10% of the aggregate purchase price of the vessel. On delivery, the Company paid $9.6 million in cash, and the balance of $52.0 million was funded through its revolving credit facility.

31 Dec 2002

TMM Guanajuato Joins Fleet

TMM Lines has taken delivery of the 3,200teu TMM Guanajuato. It was built by China Shipbuilding Corporation in Kaohsiung, Taiwan.The TMM Guanajuato is a sister ship of the TMM Colima which was delivered to the line in October. A third sister ship, the TMM Yucatan, is due for delivery in January 2003.The new ships are all part of the TMM Lines strategy to constantly upgrade its equipment, especially its container and ship fleets. "These new ships are larger, faster and even more efficient and reliable," says Juan Manuel Gonzalez, Senior Vice President. "We have also expanded our routes and upgraded other services, especially those available through the website."The TMM Guanajuato will begin operations on the Mexico-Asia Express service…

11 Oct 2002

CP Ships Takes Delivery of TMM Colima

CP Ships Limited has taken delivery of the 3200 teu TMM Colima. It was delivered on schedule by China Shipbuilding Corporation in Kaohsiung, Taiwan. TMM Colima is the third new containership to be delivered under CP Ships' four-year $800 million ship replacement program. It was preceded by sister ship Lykes Ranger delivered in June 2002 and Contship Aurora delivered in September 2002. It is being deployed in the Asia-Americas trade lane. CP Ships is more than halfway through its overall ship replacement program. By the middle of 2003, ten new, 13 used and six long-term charters will have replaced ships on short to medium-term charter. This will increase the owned and long-term committed fleet to more than 70% of total capacity from about 30% when the program started in 2000.