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Samsung Heavy

Samsung Heavy $630M Orders for Tankers, Offshore Platform

Samsung Heavy Industries Co., South Korea's third-largest shipbuilder, said it has won orders worth a combined $630m for five oil tankers and an offshore. Under the deal with a Norwegian customer, Samsung Heavy will deliver the oil tankers by 2013. Another deal with a U.S. customer calls for the shipbuilder to deliver the offshore facility by 2013. With the deals, Samsung Heavy has won deals valued at $6.1b in 2010. For the year, Samsung Heavy aims at winning $8b worth of orders.  


LNG Carriers, Drillship Orders Increase in Korea Yard

Photo credit Wiki CCL lngrivers

Shipbuilding orders trend upward at Samsung Heavy Industries Easing of the Eurozone sovereign debt problems, increased issue of drilling permits in the Gulf of Mexico and growing demand for drillships in Latin America and West Africa have combined to give Samsung Heavy Industries the best order growth visibility among the “Big Three” – Hyundai Heavy Industries and Daewoo Shipbuilding and Marine Engineering.


Samsung Gets Orders for 14 Ships

According to reports, Samsung Heavy Industries Co., has received orders for 14 container ships worth $1.5 billion from three companies including Panama's Naviera Daniela SA and Greece's Danaos Shipping Co. Samsung Heavy will deliver the ships by November 2009, the said in a regulatory filing to the Korea stock exchange today. The orders today raise Samsung Heavy's total for the year to date to $6.9 billion, 90 percent of its 2006 target.


Samsung Heavy Industries to Launch Deal with Japanese Shipbuilder

Photo Credit: SHI It has been reported that South Korea’s Samsung Heavy Industries (SHI) has signed a comprehensive cooperation agreement with the Japanese company, Tsuneishi Shipbuilding Co. The deal is said to be the first of its kind, initiating a strategic collaboration between Japanese and South Korean shipbuilders. The cooperation would entail the construction and repair of cargo vessels and special purpose ships.


Hyundai, Samsung Clash in Drillship Market

According to a report from the Korean Herald, the competition in the market for drillships is heating up with Hyundai Heavy Industries Co. threatening Samsung Heavy Industries Co.’s dominance. Hyundai Heavy has turned its eyes to the market in recent years. The company’s first drillship was delivered late last year and Samsung Heavy has lost its place at the top of the drillship market to Hyundai Heavy.   Source: The Korean Herald


Samsung Wins $1.26bln Contract from BP

Photo: Samsung Heavy Industries

 Samsung Heavy Industries, South Korea's major shipyard, build a floating production unit for British oil multinational BP that will be used in offshore drilling in the Gulf of Mexico, says a report in Yonhap.   The 1.5 trillion won ($1.26 billion) contract is the first for a floating oil production platform to be received by any of South Korea's big three shipbuilders in 18 months, according to Samsung Heavy.  


SHI Inks Orders for 5 Ships at Posidonia

Samsung Heavy Industries (SHI) apparently found no troubles in Greece this year, as the company reports inking a deal for five ships at Posidonia 2010, meaning its contracting amount has reach $3.3 billion in 2010, more than double the annual contracting amount of the previous year. SHI won orders for five 158,000 t SUEZMAX-class oil tankers during Posidonia 2010. Samsung Heavy Industries focused on attracting shippers and winning contracts at Posidonia 2010


Korea Shipbuilders May See Mild 2014 Recovery: Analysts

The nation’s major shipbuilders are expected to undergo a mild recovery on the back of a pickup in demand for commercial vessels and liquefied natural gas (LNG) carriers, reports 'The Korea Times' as informed by experts and analysts. The analysts forecasted that the nation’s leading builders such as Hyundai Heavy Industries (HHI), Samsung Heavy and Daewoo Shipbuilding and Marine Engineering (DSME) are well positioned to win more premium vessels ahead of their Chinese and Japanese


S.Korea Shipbuilders' Lead creditors back Asset Sale, Cost Cuts

The lead creditors of two of South Korea's biggest shipbuilders have provisionally approved plans by Hyundai Heavy Industries and Samsung Heavy Industries to raise up to $4.2 billion in asset sales and cost cuts, people with knowledge of the plans said on Wednesday. The fund-raising moves come as a downturn in the global shipbuilding industry, depressed by a drop in orders from the oil industry because of lower crude prices, push the firms into heavy losses


Framo to Deliver Pump Systems to GasLog

GasLog LNG Tanker (Image: GasLog)

Norway's Framo AS said it has won a contract to deliver pump systems (sea water lift pumps) for a Floating Storage Regasification Unit (FSRU) for the ship owner GasLog at the Samsung Heavy Industries shipyard.   Delivery of the systems is scheduled for August 2018. Thorbjørn Vågenes, Director Oil and Gas pumping systems at Framo, said in a statement, “This represents acknowledgement of our ultra-compact pump concept that is now gaining a solid position on the FSRU


Korean Shipyards Bag $1.5bln Newbuild Order from MSC

 Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) - two major shipyards in South Korea -  are poised to sign a deal worth $1.5 billion to build container ships for Mediterranean Shipping Company (MSC), according to the Financial Times.  


Wärtsilä Re-liquefaction Plants Ordered for Newbuild LNG Carriers

Photo: Wärtsilä

Wärtsilä said it has been awarded contracts to supply its re-liquefaction plants to three new LNG carriers currently under construction. One ship is being built at the Samsung Heavy Industries (SHI) yard in South Korea for the international owner and operator Gaslog


Smart Ships: Inmarsat, Samsung Heavy Industries Partner

Ronald Spithout, Inmarsat Maritime President (Photo: Inmarsat)

Satellite communications services provider Inmarsat said it has signed a Memorandum of Understanding (MoU) with shipbuilder Samsung Heavy Industries (SHI), establishing a relationship to leverage the ‘smart ship’ connectivity offered by Fleet Xpress at the vessel construction stage


Dim Q3 Forecast for Korean Shipyards

File photo: Hyundai Heavy Industries

 South Korea's major shipyards are projected to report weaker-than-expected earnings for the third quarter of the year, due to increased costs and the construction of low-priced ships amid decreased new orders.   Yonhap News Agency, quoting data compiled by Yonhap Infomax


Egina FPSO to Arrive in Nigeria

 The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside. (Image: NIMASA)

On a recent visit to South Korea to inspect the Egina FPSO project, and FPSO scheduled to arrive in Nigeria in August 2017, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside said the ongoing construction of the multi-billion dollar Egina


Statoil, AET Expand Shuttle Tankers Contract

The shuttle tanker Eagle Barents currently on charter for Statoil from AET. (Photo: Statoil)

Statoil ASA and petroleum and chemical tanker owners and operator AET are extending their partnership in the North Sea shuttle tanker sector. Statoil has, awarded a long-term contract to AET, a subsidiary of Malaysian energy shipping group, MISC Berhad


Shell's FLNG Facility Sets Sail for Australia

The Shell FLNG underway (CREDIT: Shell)

Royal Dutch Shell's Prelude floating liquefied natural gas (FLNG) ship has left a shipyard in South Korea for its destination offshore northwest Australia, the company said on Thursday.   Shell's $12.6 billion Prelude project is expected to start operating next year, the company said


Korean Shipyards Look Bullish

Photo: Hyundai Shipbuilding Division

 South Korea's major shipyards are estimated to have racked up solid profit during the second quarter of the year, aided by the increased delivery of ships, cost-cutting measures and a rise in new orders, Yonhap reported citing industry sources.


S. Korea's Top Three Shipyards Look Bullish

File photo: Hyundai Heavy Industries

 With a slew of contracts to be signed soon  South Korean shipyards are expected to clinch a decent number of new orders during the second half of the year, Yonhap reported quoting  industry sources.  Hyundai Heavy Industries (HHI) and its affiliates have secured a series of


Samsung Heavy to Cut Its Workforce

File Photo: Samsung Heavy Industries

 South Korea’s shipbuilder Samsung Heavy Industries (SHI) is looking to further cut its workforce,  and have employees return part of their salaries in order to cut costs, according to Yonhap News Agency.   SHI unveiled a self-restructuring program that centers on cutting


Mega Ship MOL Tribute Under BSM Management

MOL Tribute (Photo: MOL)

Bernhard Schulte Shipmanagement (BSM) has announced that the 20,146 TEU containership, MOL Tribute, came into full management of the Hong Kong Ship Management Center on July 10, 2017. Built by Samsung Heavy Industries in South Korea, MOL Tribute is 400 meters in length having a deadweight of 196


Samsung Heavy Back in Black in Q2

File Photo: Samsung Heavy Industries

 Cost reductions paved the way for South Korea's Samsung Heavy Industries (SHI) to swung to the black in the second quarter of 2017, though sales income decreased in the period reported Yonhap.  SHI reported that it has turned to black in Q2 with 20.6 billion won (US$18


OOCL Germany Delivered

From L to R: Mr. D Y Park, President & Chief Executive Officer of Samsung Heavy Industries; Mrs. Akiyo Moue, Sponsor; Mr. Nozomi Moue, Managing Executive Officer of Shinsei Bank and Guest of Honor; Mr. Andy Tung, Chief Executive Officer of OOCL. Photo: OOCL

 OOCL celebrated the christening of Hull H2173, a 21,413 TEU newbuilding constructed at the Samsung Heavy Industries shipyard on Geoje Island.     Named as OOCL Germany, this mega containership is the second of the six 21 thousand TEU class vessels on order at the shipyard and


Capital Product Bags 3 MR Charters

Photo: Capital Product Partners L.P.

 Capital Product Partners, an international diversified shipping company, announced that it has secured new time charter employment for three Medium Range (MR) Product Tankers.   The M/T 'Amadeus' (50,108 dwt, IMO II/III Eco Chemical/Product Tanker built 2015


Korean Shipyards Still in Rough Sea

File photo: Hyundai Heavy Industries

 South Korean shipyards are still struggling to cut costs through unpaid leave for their workers and shutting down dry docks idled amid a lack of orders, Yonhap reported quoting industry sources.    The report said that for decades






 
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