Marine link
 

Shipbuilder

Report: Shipbuilders Need to Target Cruise Market

According to the Korea Times, the next five years will provide an opportunity for Korean shipbuilders to construct cruise ships with a high-profit margin, the Korea Shipbuilders' Association said. The construction of luxury cruise ships declined steadily after the September 11 terrorist attacks on the United States. But with a recent favorable upturn, the market is expected to expand especially in the large and medium-size category through 2010, with an annual growth rate of about 5 percent, the association said. This prospect of stronger demand for cruise ships will offer local shipbuilders opportunities to venture into the construction of cruise ships with less risk. South Korea is the no.1 shipbuilding country in the world with aggregate exports of $17.6 billion last year. However, Korean shipbuilders haven't seen significant sales in the cruise ship business, which accounts for about 20 percent of the global shipbuilding market. Until recently, Europe had almost completely monopolized the building of cruise ships. According to the Association of European Shipbuilders and Ship Repairers, a quartet of Europe-based shipbuilders that has maintained a combined 84-percent market share since 2002. The average age of cruise ships in service at present is about 42.4 years for 19 ships over 10,000 gross tons, and 37.8 years for those less than 10,000 gross tons. Accordingly, replacement demand is likely to become active in the near term, the association said.


Many 1Q Orders for South Korean Shipbuilders

South Korean shipbuilders racked up large overseas orders in the first quarter, keeping them on course to far exceed yearly targets, Korea Times reported. Hyundai Heavy Industries, the world's largest shipbuilder, clinched orders worth $2.3 billion in the January-March period, compared with its full-year target of $7.4 billion. Its two affiliates - Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries - won a combined $2.75 billion worth of orders in the first quarter


China Targets Shipbuilding Sales of $189 Billion By 2015

SHANGHAI -- China aims to increase annual sales by domestic shipbuilders to $189.7 billion by 2015, as it works toward its goal of becoming the world's leading shipbuilding country, the Ministry of Industry and Information Technology said.  China also plans to raise the value of annual shipbuilding exports to more than $80 billion by 2015, the ministry said, in a five-year plan for the shipbuilding industry. The plan provides new details regarding China's push for significant growth


Aveva: Navies Can Reduce Project Cost, Risk and Timescales

Photo: Aveva

New business paper describes how technology offers proven collaboration capabilities that benefit all parties in warship procurement projects Aveva today announced its publication of a new business paper, “Taking Command: How Aveva technology can increase capabilities in naval fleet management.” In this paper, Aveva examines six ways that navies can exploit technologies used in other sectors, such as the offshore industry


Nine New Orders for South Korean Shipbuilders

Photo:  Hyundai Heavy Industries

 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.  


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, meeting a condition that unlocks a $2.6 billion bank bailout for the world's biggest shipbuilder.   Daewoo won approval from over 96 percent of bondholders at two meetings on Tuesday and three on Monday


South Korean Foreign Ship Orders Drop

New foreign orders received by South Korean shipbuilders fell 15.7 percent in the first nine months of this year from a year ago, provisional figures from the Korea Shipbuilders' Association show. Orders in the nine-month period totaled 5.8 million gt for 110 ships, compared with 6.9 million gt for 121 ships in the same period a year earlier. New orders received in September alone totaled 1.2 million gt for 16 vessels. It did not give comparable 1998 figures


South Korean Ship Orders Up 127% In 1999

Combined orders received by South Korean shipbuilders totaled 12.72 million gt for 227 ships in 1999, up 127.2 percent from a year earlier, according to the Korea Shipbuilders' Association said. New orders received in December alone totaled 3.71 million GT for 66 ships, the association said in a statement. Ships completed in 1999 amounted to 9.48 million gt for 163 ships, up from 7.28 million gt for 143 ships a year earlier, it said


Law Maker Attacks Korean Shipbuilders

Image: Hyundai Heavy Industries

 Lee Jin-bok, a lawmaker of the ruling Saenuri Party in Korea says that the government has given an "incentive for mutual growth" to Korea's major shipbuilders while they are accused of an unfair business practice.   The three shipbuilders - Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries - forced their partner companies not correctly to respond to the questionnaire on the 'mutual growth index,' he accused.  


S. Korea Keeps Top Spot in Shipbuilding Beating China, Japan in Q3

Image: Hyundai Heavy

 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.  


US Shipyards: Building for America, Jobs for Americans

In August 2015 General Dynamics NASSCO launched Perla del Caribe, the second ship in a series of natural gas powered containerships for TOTE (Photo: General Dynamics NASSCO)

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


St. Johns Delivers for Vane Brothers

Philadelphia is the fifth of eight new tugs being built by St. Johns Ship Building for Vane Brothers (Photo: St. Johns Ship Building)

St. Johns Ship Building has delivered the newly built tug Philadelphia to owner Vane Brothers.   Philadelphia is the fifth of eight new hulls for Vane Brothers in the Elizabeth Anne tug series consisting of 100 feet LOA, 4,200 HP twin screw tugs.  


St. Johns Building Landing Craft Series

Photo: SJSB

Palatka, Fla. shipbuilder St. Johns Ship Building (SJSB) said it is currently constructing the first of three new vessels in a series of 190 foot landing crafts for a Caribbean group.   This vessel will be powered by twin 700 HP Cummings QSK19 with Schlottle rudder propellers


DSME Deal Non-starter

File Photo: Daewoo Shipbuilding and Marine Engineering

 The creditors of Daewoo Shipbuilding & Marine Engineering (DSME) still remain undecided over afor the shipyard's latest deal, further complicating troubles for one of the country's major shipyards, Yonhap reported.   DSME  clinched a US$250 million deal to build three very


USS Gerald R. Ford on Sea Trials

Photo: United States Navy

 The future USS Gerald R. Ford (CVN 78) is underway for its first set of sea trials, known as Builder's Sea Trials (BST). Builder's sea trials provide an opportunity to test systems, components and compartments at sea for the first time.


Huntington Christens Paul Ignatius

Photo: Huntington Ingalls Industries

 Huntington Ingalls Industries (HII)'s Ingalls Shipbuilding division christened its 31st Arleigh Burke-class guided missile destroyer, Paul Ignatius (DDG 117), with approximately 1,000 guest in attendance at today’s ceremony. 


Ferry Crossing System for FosenNamsos Sjø

 Rolls-Royce

Rolls-Royce signed a deal with Norwegian shipbuilder Kleven to supply its automatic crossing system, for two new double-ended plug-in battery-hybrid ferries being built for Norwegian ferry company FosenNamsos Sjø. The system controls the vessel’s acceleration, deceleration


STI Marine Opens Rotterdam Distribution Center

STI Marine, a Division of Specified Technologies Inc., has added a new distribution center in Rotterdam, Netherlands.   The central European location benefits local shipbuilders, providing an even more responsive service than before, improving availability and expediting delivery


Veotec Supplies Water Removal Vanes to Vigor

(Photo: Vigor)

Air intake systems designer and manufacturer Veotec said it has supplied air inlet vanes (vertical louvers) and CP2 filters to U.S. shipbuilder Vigor for two pilot boats delivered to the Port of Duqm Company SAOC, Sultanate of Oman. Veotec's scope of supply for each pilot vessel included two


Metal Shark Delivers First Two NYC Ferries

Photo: Metal Shark

 The first two passenger vessels built by Louisiana-based shipbuilder Metal Shark for New York's new NYC Ferry have been completed and are now making their way to New York.    Late last week at Metal Shark's Franklin, Louisiana shipyard, the Incat Crowther-designed, 149-passenger


USS Gerald R. Ford Completes Sea Trials

USS Gerald R. Ford. Photo by United States Navy

 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


Taiwan's Home-Grown Submarine to Cost Less

Fast Attack Craft, Guided Missile (FACG). Photo: CSBC Corporation, Taiwan

 Taiwan's shipbuilder CSBC Corp's chairman Cheng Wen-lon said that a home-grown submarine will cost less than NT$100 billion (US$3.29 billion) to build.  According to a report in Taipei Times, chairman of the local shipbuilder commissioned to plan and design the vessel  also said


DSME's Bailout Plan Cleared by Pension Fund

Photo: DSME

 South Korea’s National Pension Service (NPS) agreed to a restructuring of bonds issued by Daewoo Shipbuilding & Marine Engineering (DSME).    Reuters reported that this move is expected to help the world’s largest shipbuilder tide over a financial crisis


Daewoo Shipbuilding Bondholders Okay Bailout Plan

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

Debt-to-equity swap plan is condition of $2.6 bln bailout.   South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Monday won near unanimous approval for a debt-to-equity swap plan in the first three of five bondholder meetings


Vigor to Add Third Drydock in Seattle

Vigor said it has entered into an agreement to purchase a drydock from a Korean seller, continuing the shipbuilder’s ongoing infrastructure investments and expansion of U.S. West Coast drydock capacity.   At 640 feet long with a clear width of 116 feet, the new dock will be the third






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright