Dalian Shipbuilding Industry Corp News

China Merchants Energy Shipping Co Ltd (CMES)  has firmed up orders to build six very large crude carriers (VLCCs) at Dalian Dalian Shipbuilding Industry Corp for $522 million, reports Reuters. The deliveries of 308,000dwt VLCCs are scheduled between August 2018 and October 2019. Order for six more VLCCs brings Chinese tanker operator’s total orders to ten. A week ago, CMES has placed an order for four newbuilding VLCCs, with two each at Nantong Cosco KHI Ship Engineering (Nacks) and Dalian Cosco KHI Ship Engineering (Dacks). The four orders are part of a 10-VLCC newbuild plan which was announced early last week. The eco-friendly VLCCs will be operated by China VLCC, a joint venture of CMES and Sinotrans & CSC Group.

Dalian Shipbuilding Industry Corp Ltd., China's biggest shipyard, upped its rank to number four in the world in terms of orders at hand. The company points to a combination of technical innovation and an expanded product range. Strong domestic and overseas demand was a source for the ship plant's new orders, 70 percent of which come from outside the country. Current order volumes mean Dalian Shipbuilding will work non-stop without taking any new orders until 2011. Current yearly revenue reached $1.60b and is expected to top $2.66b by the end of the 11th Five Year Plan (2005-2010), according to a company representative. [Source: www. chinadaily.com.cn]

According to reports, CSIC is considering launching a domestic initial public offering to raise up to $928m, state media said. CSIC, which controls Dalian Shipbuilding Industry Corp and some other domestic shipyards, will fold 16 units into one listing vehicle and float it either in Shanghai or Shenzhen, the Shanghai Securities News said. Source: Reuters

Korean shipbuilders occupied seven out of the top 10 positions in the world last month in terms of orders. Hyundai Heavy Industries was the world’s largest shipyard in terms of order backlog as of late June with 11.74 million compensated gross tons (CGT), British shipbuilding market researcher Clarkson reported. Samsung Heavy Industries came second with an order backlog of 8.27 million CGTs, followed by Daewoo Shipbuilding & Marine Engineering (DSME) with 7.41 million CGTs and Hyundai Mipo Dockyard Co., one of two Hyundai Heavy Industries subsidiaries, with 4.11 million CGTs. Created after a merger of two shipyards in Dalian, China’s Dalian Shipbuilding Industry Corp.