Shipbuilding Venture News

Iran has finalised a deal with South Korea to launch a joint shipbuilding venture between the two countries, IRNA reported. The venture will be established between Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) and Hyundai. ISOICO managing director Hamid Rezaian revealed that the related consultations as well as key agreements for the move have already been taken care of, and the company will work over the development of the seventh generation of ships with Hyundai. He added that marketing and taking advantage of joint markets would be on the agenda of the two companies. Rezaian had announced in late November that ISOICO is looking into partnerships with major international shipbuilders including Hyundai and Germany’s Nordic Yards Wismar, said the report.

Fincantieri, the world leader in the construction of cruise ships, has signed two memorandums of understanding, respectively with Carnival Corporation, the world’s largest cruise line, and with China CSSC Holdings Limited, controlled by CSSC (China State Shipbuilding Corporation), China’s largest shipbuilding conglomerate, which operates in different sectors. These historic agreements aim to explore the possibility of joint ventures in cruise shipbuilding for the Chinese market. This would be an unprecedented, three-way collaborative effort to build the first-ever cruise ships to be made in China. More particularly, Fincantieri would work with CSSC to develop cruise ships production capacity in China.

The story of Bordelon Marine is not far afield from many others in the Gulf of Mexico, that of a small, family owned business carving a niche for itself. But when Wes Bordelon joined his namesake company in 1999, he knew that change was essential for survival. More than a dozen years later, MarineNews sat in Bordelon Marine’s brand new shipyard in Houma, La., a month before the debut of its Stingray class of offshore service vessel, to discuss the renewed trajectory of the company in step with the changing demands in the market.

Joint venture (Etihad Shipbuilding. The joint venture, set up to concentrate on Middle East naval builds, kicks off by overseeing initially the maintenance and post-guarantee work on the first two of four “Saettia MK4” vessels delivered in recent years by Fincantieri to the  Iraqi Navy. World name shipyard, Fincantieri is already building three vessels for the UAE Navy at the Italian shipyards of Riva Trigoso and Muggiano, an “Abu Dhabi” class corvette and two “Falaj2” stealth…

According to a July 13 report from the Taiwan News, Kawasaki Heavy Industries' shipbuilding venture in China will delay operations of a second dock in Dalian by three years as the global recession dries up demand. The second dock, originally slated for operations in early 2012, may be postponed until 2015, said Yusuke Kamada, a spokesman at Kobe, Japan-based Kawasaki. (Source: Taiwan News)

Larsen and Toubro Ltd (L&T) has won a contract valued at about $240m to build four specialized ships for Dutch company RollDock BV. Indian companies are currently building about 245 ships worth more than Rs20,000 crore. Of this, about 70% are for overseas clients, who are placing orders at Indian yards as shipbuilding facilities in maritime strongholds such as , and are fully booked till 2011. Each ship will cost about $60m to build. These will be built at L&T’s shipyard at Hazira in and would take the firm’s order book to 12 ships. The Mumbai-based company launched its shipbuilding venture in May 2006 with an order for building four ships valued at Rs440 crore from Rotterdam-based Zadeko Ship Management CV (now known as ).

India’s biggest engineering and construction firm, Larsen and Toubro Ltd, is in talks with a Dutch shipowner for a new building contract valued at more than $100 million according to the Wall Street Journal. New orders: Larsen and Toubro’s employees shift a 20-tonne ship part in the company’s shipbuilding yard in Hajira. L&T is negotiating with a Dutch shipowner for a new shipbuilding order. L&T is currently building eight ships valued at about Rs1,150 crore. These comprise six for RollDock and two from BigLift Shipping BV, also of the Netherlands. L&T launched its shipbuilding venture in May 2006 with an order for building four ships valued at Rs440 crore from the Rotterdam-based shipping firm Zadeko Ship Management CV (now known as RollDock BV).

More than 125 years ago, on April 5, 1877, two young and ambitious engineers, Hermann Blohm and Ernst Voss joined together to what has since evolved into one of Germany’s most advanced and largest shipyards – Blohm + Voss Schiffswerft und Maschinenfabrik (shipyard and machine factor) on Steinwarder Island, situated on the River Elbe. Originally formed to build steam ships, the company began to develop into one of the largest closed shipyard site and dock capacity by the beginning of the 20th Century. Throughout its developmental stages, Blohm + Voss profited richly from a favorable economic environment, as well. At the time, the industrialization of the united German Reich was occurring, thus causing the need for a large amount of cargo and passenger ships were suddenly needed.

Mumbai-based Bharati Shipyard and Apeejay Shipping have signed a 50:50 joint venture agreement for setting up large modern shipbuilding yard along the eastern coast. According to sources at Bharati Shipyard, they are in the process of finalizing the site and will be able to announce the location in the coming weeks. The shipbuilding venture between a reputed shipbuilder and a leading shipping company is expected to commence operations by first quarter of 2009. Bharati and Apeejay would jointly invest in the state of the art technology and modern shipbuilding and ship repair facilities and would have the capacity to build and repair vessels of all sizes up to VLCC. The JV will see an investment of Rs 2,000 crore in the new shipyard.

Mumbai-based Garware Offshore Services Ltd. plans to enter the shipbuilding business by setting up a facility to build offshore support vessels. Reports from India say the yard will be a joint venture with Norway-based ship Havyard Leirvik AS. Sources in India have suggested that the company will form a 50/50 joint venture, and that the Indian company is considering various sites in Gujarat for the yard. [Source: http://www.oilpubs.com]

Larson and Turbo (L&T) will invest in a new greenfield shipbuilding venture, reports Business Line. The company is considering sites at the coastline of Tamil Nadu, Andhra Pradesh and Gujarat for erecting the shipbuilding unit. L&T has a shipbuilding yard at Hazira, in Gujarat, but due to the little scope for expansion, the company is looking for other locations. It requires about 1,000 acres along the coastline. Source: Moneysource

In a statement provided with the company's Preliminary Results , VT Group's chairman Michael Jeffries gave an indication of how the new shipbuilding venture between his company and BAE Systems would be structured. He said "We announced in December 2006 that we had entered into discussions with BAE Systems to combine our respective surface shipbuilding and naval support businesses, including Fleet Support Limited (FSL). The proposed consolidation is in line with the Defence Industrial Strategy and would create a world-class provider and strategic partner for the UK Government. He also confirmed VT Group's withdrawal from small commercial boatbuilding activities. Earlier the group announced that VT Halmatic would be restructured and would concentrate on the build of small military vessels.

Hyundai Corporation won shipbuilding contracts worth $300 million through its joint shipbuilding venture in China. The company announced that an additional deal concerning nine units of 5,500-ton bunkering tankers had been signed in January 13 at the Shangri-La Hotel in Qingdao. The event, which was presided by President Mark Juhn and other related personnel, was also used as the signing ceremony for the new-building contract of 16 units of 5,600-ton chemical tankers with Greek shipping company Evalend. All in all, Hyundai Corporation has won contracts totaling $330 million to build 28 ships through its shipbuilding arm in China. (Source: www.azom.com)

Reports indicate that Hyundai Corporation has won shipbuilding contracts worth $300 million through its joint shipbuilding venture in China. The company announced that an additional deal concerning 9 units of 5,500-ton bunkering tankers had been signed in January 13 at the Shangri-La Hotel in Qingdao. The event, which was presided by President Mark Juhn and other related personnel, was also used as the signing ceremony for the new-building contract of 16 units of 5,600-ton chemical tankers with Greek shipping company Evalend. All in all, Hyundai Corporation has won contracts totaling $330 million to build 28 ships through its shipbuilding arm in China.

Rising out of the ashes of receivership, Hobart, Australia-based INCAT is back with a vengeance. After a setback this past year, the company, according to CEO Robert Clifford, is "well structured for the future." And the company is on its way to a speedy recovery with 2003 as it has just received two orders for the U.S. military and at press time, announced plans to have its debts repaid to the bank by the end of January 2003. The U.S. Army Tank-Automotive (TACOM) leased its premiere Theater Support vessel for the Army from Bollinger/INCAT USA, the Australian shipbuilder's joint aluminum shipbuilding venture in Louisiana. MR/EN: It's no secret that INCAT was in receivership last year — but is now emerging out of financial difficulty.

Newport News Shipbuilding (NNS) and French and United Arab Emirates interests will work together on a UAE shipbuilding venture. The other partners are Abu Dhabi Shipbuilding (ADSB) and Constructions Mecaniques de Normandie (CMN). The firms will provide expertise to ADSB, and consolidate naval shipbuilding operations in the UAE. ADSB would begin work on a new contract to upgrade combat systems for the UAE navy's patrol boats and other projects.