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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


Cochin Shipyard, Samsung Heavy Pact for LNG Ship Project

Image: Cochin Shipyard Limited (CSL)

 Cochin Shipyard Limited (CSL) has signed a memorandum of understanding (MoU) with South Koreas second-largest shipbuilder, Samsung Heavy Industries (SHI) to team up to bid for the GAIL (India) Ltd tender to build liquefied natural gas (LNG) ships.    GAIL needs nine LNG carriers to haul natural gas from the US to India beginning December 2017.   With this, Cochin Shipyard becomes the second local yard to secure a technology tie-up for LNG ships from one of the three


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


Death Toll Rises in Korean Shipyard Accident

 A crane has collapsed at Samsung Heavy Industries shipyard in South Korea, killing six workers and injuring 22, reports Reuters.   The South Korean shipbuilder quoted as saying that rescuers are searching for people trapped under debris after the 32-tonne crane fell on a ship at its


OOCL Hong Kong Christened

Photo: Orient Overseas Container Line Limited

 Orient Overseas Container Line (OOCL) announced the naming of its latest containership, the OOCL Hong Kong, at a christening ceremony held at the Samsung Heavy Industries (SHI) shipyard on Geoje Island on May 12.     The OOCL Hong Kong was also celebrated as one of the largest


TMC Tallies another Höegh FSRU Deal

Vessel under construction at Samsung Heavy Industries to be delivered Q2 2019. (Photo: Höegh LNG)

TMC Compressors said it has secured a contract from Samsung Heavy Industries to deliver a marine compressed air system to a floating storage and regasification unit (FSRU) the South Korean shipyard is building for Höegh LNG.   


Samsung Heavy Bags Order for 2 LNG Carriers

Photo: Samsung Heavy Industries

 South Korea’s Samsung Heavy Industries (SHI) has won a $100 million order to build two liquefied natural gas (LNG) carriers for Korea Line, reports Yohnap.   Korea Gas Corp. (KOGAS) has chartered Korea Line to transport LNG from Tongyeong


Samsung Heavy Trims Operating Loss for 2016

Photo: Samsung Heavy Industries

 Samsung Heavy Industries (SHI), South Korea's second largest shipbuilder,  has managed to reduce its operating loss by around 90 percent due to a stabilization in shipbuilding and offshore construction.   SHI ended the year with an operating loss of KRW 147


Nakilat assumes Management of Al Dafna

Al Dafna Photo Nakilat Shipping Qatar Ltd.

Nakilat has assumed full ship management and operations of Q-Max LNG carrier Al Dafna from STASCo (Shell Trading and Shipping Company Ltd.) with effect from 2 February 2017, as part of the planned and phased transition announced on 19th October 2016.


GTT Receives Order to Equip FSRU

GTT said it has received an order from Samsung Heavy Industries (SHI) to equip a floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system. The new order also includes three optional FSRUs.  


Keel Laid for Teekay’s First New Canada Tanker

Photo: Teekay Corporation

 Teekay Offshore will be the sole supplier and operator of shuttle tankers sfor East Coast Canada(ECC), says Teekay Corporation.   On February 15, the keel laying ceremony for Teekay’s first shuttle tanker newbuilding for ECC took place at the Samsung Heavy Industries shipyard in


Mega 20,150 TEU Containership Named MOL Triumph

The 20,150 TEU, 400m-long MOL Triumph is scheduled to be delivered March 27. (Photo: Samsung Heavy Industries)

A new 20,150 TEU containership has captured the “world’s largest” title: MOL Triumph, the first in a series of new mega containerships for Japan’s Mitsui O.S.K. Lines, Ltd., (MOL) was named at Samsung Heavy Industries, Ltd.’s (SHI) Geoje, South Korea shipyard.


Korean Shipyards Cut Costs to Boost Profit

Photo: Hyundai Heavy Industries

 South Korea's Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) said that they will strive to boost their profitability via increased orders and continued cost-cutting measures, reports Yonhap.   According to Park Dae-young, president of SHI


World's Largest Containership Delivered

Image: Samsung Heavy Industries

The world's largest containership, MOL Triumph, was delivered to Mitsui O.S.K. Lines (MOL) from Samsung Heavy Industries on March 27, 2017.   MOL's newest vessel, the first of a fleet of six 20,000 TEU-class containerships for the company


Wärtsilä to Provide Solutions for Höegh FSRU, LNG Vessels

The new 170,000 m3 LNG carrier vessels being built for Höegh LNG will feature the latest Wärtsilä regasification technology, Wärtsilä dual-fuel engines and a technical management agreement. (Photo: Wärtsilä)

The technology group Wärtsilä has been contracted to provide both equipment and maintenance for FSRU and LNG carrier vessels of Norway based operator, Höegh LNG. The orders were booked in the first quarter of 2017.   Two new 170


World's Largest Containership in Shanghai

MOL Triumph at Yangshan Port in Shanghai. Photo: Mitsui O.S.K. Lines, Ltd. (MOL)

 MOL Triumph, the world's largest containership with a carrying capacity of 20,170 TEU, successfully arrived at Yangshan Port in Shanghai on April 10, 2017, said Mitsui O.S.K. Lines, Ltd. (MOL)   MOL took delivery of MOL Triumph, the first of six 20


Daewoo Shipbuilding unlocks $2.6 bln Bailout

File Image (CREDIT: AdobeStock / (c) Carabay)

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


Five Killed in Crane Accident at Samsung Shipyard

Five people died and about 20 were injured when a crane collapsed at a Samsung Heavy Industries shipyard in South Korea during construction of an oil platform for French energy company Total, the two companies said on Monday.   The yard in Geoje is building the platform for Total's Martin






 
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