Songa Offshore sees Daewoo Arbitration Lasting into 2018
Rig firm Songa Offshore's CEO Bjoernar Iversen expects the company's arbitration case with DSME (Daewoo Shipbuilding & Marine Engineering) to last throughout 2017 and into 2018. ** Songa received notices of arbitration from DSME in July 2015 ** Claims of $373 million received from DSME in November 2015 for the two rigs Songa Equinox and Songa Endurance ** Songa submitted its response to DSME's claim and a $66 million counterclaim against DSME in March 2016 ** CEO says DSME is responsible for delays and cost overruns on the rigs ** CEO: We believe we have a very, very strong case. Reporting By Ole Petter Skonnord
STX Considers Bid for Daewoo
STX may join candidates in bidding for Daewoo Shipbuilding and Marine Engineering, reports said. Hyundai Heavy Industries has expressed its intention to participate in the bid, with plans to submit a letter of intent regarding the takeover of Daewoo Shipbuilding and Marine Engineering by the August 27 deadline. Source: Bloomberg
US Tanker Liberty Sails for Sea Trials
U.S. shipbuilder General Dynamics NASSCO said it has sent the newly built Jones Act tanker Liberty to sea for testing and trials. The 610-foot-long Liberty set sail for the first time on Monday, February 20 to undergo sea trials before delivery later this year. Liberty is the third and final tanker to be constructed as part of the ECO Class program for SEACOR. The three vessels are each 50,000 deadweight ton LNG-conversion-ready product carriers with a 330,000 barrel cargo capacity. The other two vessels in the series, Independence and Constitution, were delivered in 2016.
Daewoo Gets $155M Order For Tankers
Daewoo Shipbuilding and Marine Engineering Co., Ltd. has won a $155 million order to build five oil tankers for Stelmar Shipping. Daewoo Shipbuilding will construct five crude oil tankers, which carry 69,000 tons of crude oil each. The ships will be delivered to the Greek company by the end of 2004, according Daewoo Shipbuilding.
Daewoo Shipbuilding Wins Orders Worth $280m
Daewoo Shipbuilding and Marine Engineering said its shipyard in Romania has secured $280m worth of new orders to build four container ships for two German clients. Daewoo Mangalia Heavy Industries will build two Panamax carriers for Gebab Holding and another two for Conti Holding by October 2009 under the deals, its Seoul-based parent company said. The latest contracts would boost business performance in the Romanian shipyard in Mangalia, acquired by Daewoo Shipbuilding in 1997 and turned around into profitability in 2000, the parent firm said. Source: Forbes
Daewoo Shipbuilding Wins $500m Deal
Daewoo Shipbuilding and Marine Engineering Co. said it has won a $500m order to build five container ships for a German shipping company. The deal calls for Daewoo Shipbuilding to deliver the ships, which can hold 4,700 20-foot standard containers, to Hamburg Sud, one of the largest ship lines, by 2010, the company said. The vessels will be built at Daewoo Shipping's yard in Romania, it said. (Yonhap)
DSME Stock Up on Sale Talk
Reuters is reporting that shares in Daewoo Shipbuilding and Marine Engineering Co rose more than 3.5 percent after a local newspaper reported the shipbuilder could be sold this year. According to Reuters, Maeil Business Newspaper reported that Korea Development Bank (KDB) is likely to speed up the sale of Hyundai Engineering & Construction Co. and Daewoo Shipbuilding ahead of the KDB's transformation into a holding company.
Daewoo Lands $340 Million LNG Order
South Korea's Daewoo Shipbuilding and Marine Engineering said on Tuesday it had won a combined $340 million order to build liquefied natural gas (LNG) carriers from Belgium and Norway. Daewoo Shipbuilding won orders to build a $170 million LNG ship each from Belgian shipping group CMB unit Exmar and Golar LNG of Norway, a company spokesman said. Daewoo's LNG orders totaled 10 ships worth $1.7 billion so far this year, he said.
Daewoo Shipbuilding Wins $520m in Contracts
Daewoo Shipbuilding and Marine Engineering Co., said it won shipbuilding orders worth a total of $520m from . Daewoo said in a filing to the Korea Exchange the orders were for two very large crude oil carriers (VLCCs) and two bulk carriers. Source: Reuters
Daewoo Marine Wins $730m Order
Daewoo Shipbuilding and Marine Engineering announced it won a combined $730m orders to build four ships. They include liquefied natural gas re-gasification vessels (LNG-RV, or LNG carriers equipped with LNG terminals). The shipbuilder won a contract to build two LNG-RV with a capacity of 150,900 §© for Belgium's Exmar Marine N.V. and two large LPG vessels with a capacity of 83,000 §© for Greece's Gulf Marine Management S.A. The LNG-RV that Daewoo is to build is 291x43x26m. They can make some 19.2 knots (36 km/h). (Source: Chosun Ilbo)
Maersk Names Fourth Jack-up at DSME
Maersk Drilling’s fourth XL Enhanced ultra-harsh environment jack-up was named on 14 October at a ceremony held at the Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea. "Maersk Drilling’s fourth XL Enhanced ultra-harsh environment jackup was named on 14 October at a ceremony held at the Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea," says a company press release. At the edge of the bustling Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea…
Daewoo Wins $645m Order
Daewoo Shipbuilding and Marine Engineering Co. said it has won $644.8m order to build a drillship for an unidentified company in Oceania. Daewoo said in a filing with the Korea Exchange that it finalised the contract, which is part of the combined $3b order announced on Thursday to build four ships for three different companies. Daewoo said it would deliver the ship by July 2011. Source: Reuters
Daewoo Shipbuilding for Sale?
South Korea intends to sell a controlling stake in Daewoo Shipbuilding and Marine Engineering, currently valued at 2.5 billion, in the second half of 2006, according to a Reuters report. State-run Korea Development Bank (KDB) and government restructuring agency KAMCO own a combined 50.6 percent stake in the world's second-biggest shipbuilder. KDB, which is managing the sale on behalf of other creditors, has recently named JP Morgan as a lead manager for the deal.
Daewoo Gets Container Ship Order
Daewoo Shipbuilding and Marine Engineering Co. said on won a $592.3m container ship order from an Asian shipper. The vessel will be delivered to the company by the end of July 2011, Daewoo said in a filing with the Korea Exchange. Source: Reuters
S.Korea's Daewoo Wins $502m Order
Reuters has reported that Daewoo Shipbuilding and Marine Engineering Co., has won a $502.4m order to build a drillship for a company based in the Americas. Daewoo said in a filing to the Korea Exchange it would deliver the ship by April 15, 2009. Source: Reuters
Daewoo Gets $740m in Contracts for Two Vessels
Reuters reported that Daewoo Shipbuilding and Marine Engineering Co. had secured a combined $740m order to build a drill ship and a crude oil carrier. The two vessel orders underlined booming oil exploration around the world, Daewoo said in a statement, as crude oil futures have set a series of recent records. The shipbuilder will deliver the drill ship for $623.8m to an unidentified shipping firm from the Oceania Continent, while the crude oil carrier will go to a Europe-based shipper by the end of 2010.
Korean Shipyards Dominate
Korean shipyards dominate the global shipbuilding market in terms of backlog orders. According to the London-based market researcher Clarkson, Hyundai Heavy Industries received 12.3 Million CGT or compensated gross tons' worth of orders as of the end of August, followed by Samsung Heavy Industries, and Daewoo Shipbuilding and Marine Engineering. Together with Hyundai's subsidiary, MIPO Dockyard and Samho, Korean shipyards have taken the top five places as the world's leading vessel makers. China's Dalian Shipbuilding Heavy Industry came in sixth with 2.9 million CGTs of orders. Source: Arirang News
Daewoo Wins Orders
According to reports, Daewoo Shipbuilding and Marine Engineering has said it had won 1.1b dollar in orders to build an oil rig and a drilling ship for Brazilian and U.S. clients. Brazil's Petroserv SA has ordered the semi-submersible drilling rig while Transocean Inc of the United States has ordered the drillship, the shipbuilder said, disclosing no further details on contract terms. The latest deals brought the firm's total orderbook for this year to 36 vessels worth 7.76b dollars. It targets 10b dollars in new orders this year. Source: AFP
Daewoo Wins $515M Contract
Daewoo Shipbuilding and Marine Engineering reportedly has won a $515.8 million order from Teekay Shipping of Canada to build three LNG (liquefied natural gas) ships, with delivery due in April 2007.
Daewoo wins $1.1B LNG Orders
South Korea's Daewoo Shipbuilding and Marine Engineering, the world's second-largest shipyard, said on Monday it has won orders worth $1.1 billion for four LNG (liquefied natural gas) ships. The company said in a filing to the Korea Stock Exchange Bergesen of Norway had placed an order for three LNG carriers, although did not give the buyer of the fourth ship.
Korea's Daewoo To Grab Hold of LNG Ship Market
Daewoo Shipbuilding and Marine Engineering Co Ltd aims to grab half this year's 15 to 20 orders for Liquefied Natural Gas (LNG) carriers, strengthening its lead in the higher end of the shipbuilding market, the company said on Monday. Company officials reportedly said that Daewoo was expected to sign a $500 million deal to build an offshore fixed platform in Angola in April. The price for an LNG carrier is about $160-$175 million, about twice the price for a 300,000-ton class very large crude carrier (VLCC). In 2001, Daewoo Shipbuilding secured 10 of the 29 new liquefied natural gas carrier orders placed worldwide. Company officials said the overall market still looked tough after excessive orders in 2000…
Daewoo Cargo Carrier Order from Norway
According to a Dec. 22 report from Reuters, Daewoo Shipbuilding and Marine Engineering (042660.KS) won an order to build five cargo carriers from Norway's Saga Shipbuilding Norway AS. (Source: Reuters)
AVEVA Wins Award
AVEVA, an IT solution provider to the marine, process and power industries, won a top accolade from Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME). AVEVA was presented with a ‘Plaque of Appreciation’ in recognition of the successful completion of the DSME CAD Unification project and for providing exceptional services over the last three years. The award recognised AVEVA’s ability to understand the true nature of a partnership, support complex and challenging project goals and meet aggressive deadlines.