New Shipbuilding Orders
China Rongsheng Heavy Industries release financial results for the twelve months ended 31, December 2012. In 2012, the Group recorded approximately RMB 7.96 billion in revenue, a year-over-year decrease of 50% from RMB 15.9 billion. Losses attributable to equity holders of the Company were RMB 572.6 million, compared to earnings of RMB 1.7 billion in 2011. Mr. Chen Qiang, Chairman of the Board of Directors and Chief Executive Officer of China Rongsheng Heavy Industries, said: “The sluggish global shipping market continued to reduce new shipbuilding prices and deteriorate payment terms, as global new shipbuilding orders plunged to their lowest level in a decade. Under adverse market situation, constructions and deliveries in our core shipbuilding segment have suffered from delays, leading to a decline in our revenue." "Shipbuilding is the Group’s core business and its major revenue contributor. During the Period, revenue from the shipbuilding segment reached RMB 7.56 billion, representing 95% of revenue. According to Clarkson Research, global new shipbuilding orders decreased 44.5% year-on-year measured in deadweight tonnage (“DWT”), and new shipbuilding orders in China fell 45.2% year-on-year for the Period. New shipbuilding prices also suffered a drop of 9.2%. In response to the adverse market environment, we adopted a defensive sales strategy."
South Korean shipbuilders have ranked first in the world outpacing Chinese and Japanese rivals in terms of new orders in the third quarter of the year, reports Yonhap quoting Clarkson Research Services. South Korean shipyards bagged new orders totaling 2.11 million compensated gross tons (CGTs) last month, trailing Chinese shipbuilders at 3.48 million CGTs and Japanese companies with 2.36 million CGTs.
Mitsubishi Heavy Industries, Ltd. (MHI) has completed two shipbuilding contracts with Carnival Corporation & plc, for the construction of two large-sized cruise ships for Carnival's AIDA Cruises brand. Delivery of the two ships is scheduled for spring 2015 and spring 2016 from MHI's shipyard in Nagasaki. The shipbuilding contracts are subject to financing. The two 125,000 gross tonnage (G/T), 3,250 passenger ships will be the largest ever constructed for AIDA Cruises
Hyundai Heavy Industries (HHI) announce a successful demonstration of the world’s first ME-GI gas engine package test in combination with Hi-GAS. HHI’s independent LNG Fuel Gas Supply (FGSS) the 'Hi-GAS' system (Hyundai Integrated Gas Supply System) allows marine engines to use diesel and LNG for fuel. Hi-Gas system can be used in all types of vessel such as LNG carriers, containerships, and oil tankers
While South Korean shipbuilders are continuing to struggle for survival as the recession in the global shipbuilding market drags on, they have clinched new orders to build nine ships in the first four months of the year. Yonhap, quoting industry data, said that the S.Korean shipyards, led by Hyundai Heavy Industries Co., have clinched new orders to build nine ships, accounting for 5 percent of new shipbuilding orders placed around the globe.
Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement plan is good enough for HHI to make operating profits and secure liquidity even in the worst case scenario. The announcement is the result of due diligence that had been conducted by Samil PwC for 10 weeks from May 23 this year at the request of HHI’s main creditor banks including the Export-Import Bank of Korea
The world fleet of oil, chemical and gas tankers is predicted to continue to grow over the next five years, although at a much more sluggish rate than the previous five years, according to a Shipbuilding Market Report issued this month by Lloyd’s Register - Fairplay (LR Fairplay). The oil tanker fleet, which currently stands at 7,516 ships, is expected to grow by 1.9 percent per year over the next five years in terms of the number of ships. Deadweight ton (dwt) capacity will rise by 5
According to a Jan. 12 report from The Chosum Ilbo, Korean shipbuilders won new orders worth over $1b in the first 10 days of the new year, in a complete reversal of the situation last year. STX Offshore & Shipbuilding and Hanjin Heavy Industries delivered the good news on Jan. 11, and Daewoo Shipbuilding & Marine Engineering and Sungdong Shipbuilding & Marine Engineering won new orders earlier. Industry insiders said an overseas marketing drive in the second half of last year
China's Ministry of Industry and Information Technology reports that orders in first half 2012 are down by 50.3% year-on-year. The volume of handling orders was a mere 125.87 million DWT by the end of June, down 30.7 percent year-on-year, which can easily lead to the assumption that some shipbuilders will not be able to keep operating in the following months. "We have not received any new orders. If the situation continues
From 19 till 20 October 2016, top executives from major shipbuilders from Japan, Europe, China, South-Korea and the United States met in Gyeongju (South-Korea) in the context of the 25th JECKU, to discuss the industry’s challenges in supply and demand and in addressing regulatory matters. This year’s meeting took place under extraordinary circumstances, notably against a background of a global shipbuilding industry experiencing very harsh demand contractions
China has handed a 600-ton patrol ship over to Pakistan’s maritime safety authority in Guangzhou, Guangdong province, PTI reported. The new ship, just the third of its kind, was built by China Shipbuilding Trading Company Ltd
The newbuilding orders for China’s shipbuilding yards plunged by 25.4% during the first three months of 2017 compared to the same period a year earlier, according to data provided by the China Association of the National Shipbuilding Industry (Cansi).
Bondholders at final meetings agree to debt-to-equity swap; shipbuilder needs about $400 mln in operating funds by April-end. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd has won near unanimous agreement from bondholders to swap their debt for equity
The shipbuilding and ship repairing industry has always been a core strength of our nation. It has enabled the United States to protect and project its prosperity, power and influence internationally. A book in my office signed by shipbuilder William Webb illustrates the point. Mr
The Expansion, modernization and upgradation of shipping infrastructure in India is an on-going process to keep the ports abreast with new technologies and also to promote trade and cargo. The Government is committed to provide best possible infrastructure facilities to Indian
The French state is considering nationalising the Saint-Nazaire shipyards before selling it to new investors if no deal can be reached with Italian shipbuilding group Fincantieri, Le Monde newspaper said on Friday. Shipbuilders MSC and Royal Caribbean have already expressed an interest
Mitsubishi Heavy Industries (MHI) has reached basic agreements with Imabari Shipbuilding Co., Ltd. and Namura Shipbuilding Co., Ltd. in the wake of ongoing discussions focused on forming alliances in the commercial ship business. Discussions toward concluding a similar alliance with Oshima
Mitsubishi Heavy Industries, Ltd. (MHI) has reached basic agreements with Imabari Shipbuilding Co., Ltd. and Namura Shipbuilding Co., Ltd. in the wake of ongoing discussions focused on forming alliances in the commercial ship business. Discussions toward concluding a similar alliance with Oshima
South Korea's Daewoo Shipbuilding expects to deliver two more ice-class tankers to lift liquefied natural gas (LNG) from Russia's Yamal LNG project this year, a company spokesman said on Monday. Daewoo Shipbuilding & Marine Engineering (DSME)
Eastern Shipbuilding Group (ESG) has received Notice to Proceed (NPT) from The City of New York Department of Transportation (NYCDOT) for the detail design and construction of three new Staten Island-Ollis Class Ferries for the Staten Island Ferry Division.
The Southwest Alaska Pilots Association in Homer, Alaska has ordered a new pilot boat from Gladding-Hearn Shipbuilding, Duclos Corporation. Delivery is scheduled for 2018. With a length overall of 75.7’, beam of 20.6’ and draft of 3
International compressor supplier TMC Compressors (TMC) has been awarded a contract to supply complete marine compressed air systems for two very large crude carriers (VLCC) currently being built by Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea.
Odfjell finalized the shipbuilding contracts with Hudong-Zhonghua Shipbuilding (Group) CO., Ltd in China to build a pair of chemical tankers. The two vessels will be 38,000 dwt, both with 40 tanks and a cargo capacity of about 45,000 cbm. Both vessels will be prepared for dual fuel solution
Mitsui Engineering & Shipbuilding Co., Ltd. (MES) obtained Bureau Veritas Approval in Principle (AIP) for the noah-FPSO Hull and associated design and construction methods following American Bureau of Shipping. This AIP provides assurance of the feasibility and reliability of the
The future USS Gerald R. Ford (CVN 78) returned from Builder's Sea Trials to Naval Station Norfolk, Virginia on April 14 after seven days at sea. During this initial at-sea period, Ford's crew, representatives from Huntington Ingalls Industries-Newport News Shipbuilding