Manufacturing Market News

The Korean shipbuilder Hyundai Heavy Industries (HHI) won a contract worth up to $600 million from Netherlands-based energy and commodities company Vitol to build as many as eight gas tankers, Reuters reported. HHI will construct two liquefied petroleum gas (LPG) tankers with a capacity of 84,000 cubic meters (3 million cubic feet) each. The ships are expected to be delivered in the first half of 2019. Under the deal, the energy company holds the option to order six more gas carriers. The newly built tankers will be designed to consume less fuel and be eco-friendly to meet the International Maritime Organization’s sulphur cap set to come into effect from 2020, Hyundai said in a statement. From 1972 to 2013, HHI has delivered 2,981 vessels to 268 ship-owners in 48 countries.

The South African government’s Operation Phakisa: Oceans Economy initiative has yielded more results with the ceremonial launch of two more tugboats built for Transnet National Ports Authority (TNPA). The two tugs – named Qunu and Cormorant – form part of TNPA’s R1.4 billion contract awarded to Durban ship builder, Southern African Shipyards. It is the largest single contract TNPA has ever given to a South African company for the building of harbor craft and will see a total of nine new tugs built for the South African port landlord over three and a half years.

More than 1,100 new submarine electricity cable systems are planned from 2012 to 2020, according to a new market research report. The small and highly specialized high-voltage submarine cable market is expected to see significant growth in the coming years. National governments and regional organizations are accelerating efforts to build offshore renewable power generation facilities, link remote landmasses, and interconnect their national grids. According to a recent report from Pike Research , a part of Navigant’s Energy Practice, more than 1,100 new submarine electricity cable systems are planned from 2012 to 2020. “The high-voltage submarine market faces significant challenges moving forward,” says senior research director Bob Gohn.

ST. MICHAEL, Minnesota, U.S.A. (March 28, 2011) –  Jet Edge, Inc. is pleased to announce that Haihong (Samuel) Song has been appointed area manager for the water jet manufacturer’s new sales office in Shanghai, China. Mr. Song is responsible for developing Jet Edge’s business presence in China’s rapidly growing manufacturing market. He will directly oversee Jet Edge’s Shanghai office, coordinating all sales activities, managing sales personnel and distributors, and developing a key customer base. Jet Edge customers will benefit from Mr.

Olli Piiroinen has been named industry manager for the European marine market within Ashland Composite Polymers, a business group of Ashland Performance Materials, a division of Ashland Inc. Piiroinen will manage Ashland’s composite marine business for Europe. Previously he was Ashland’s technical service representative for composite marine products in Europe. “Olli’s technical expertise, coupled with his broad knowledge of the European marine manufacturing market, will enable Ashland to expand upon our successful efforts in this market space,” said Mike Wallenhorst, global marine marketing manager for Ashland Composite Polymers. Ashland Composite Polymers is a leader in supplying products, processes and technologies to the global marketplace for composites and gelcoats.