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


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


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.  


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.  


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


STX Bags Orders for Six Tankers

Photo: STX Offshore & Shipbuilding

 South Korea’s STX Offshore & Shipbuilding won contracts to build six tankers from Greece and local shippers, reports Korea JoongAng Daily.   STX announced that Greek shipper OceanGold Tankers placed an order for four medium-range tankers of 50,000 DWT capacity


Fincantieri, Mapei Enter R&D Partnership

Shipbuilder Fincantieri said it has partnered with Mapei, a producer of adhesives and chemical products for the construction sector with a business line of shipbuilding industry products, in the field of research and innovation.   According to Fincantieri


Hyundai Heavy Industries Debuts ‘Smart Ship’ Solution

Glovis Challenge, 6,500 PCTC with Integrated Smart Ship Solution (ISSS). (Photo: HHI)

South Korean shipbuilder Hyundai Heavy Industries (HHI) said it has developed proprietary ICT technology capable of realizing economical and reliable navigation and management of ships: Integrated Smart Ship Solution (ISSS).   HHI said the solution provides a wide range of ship information


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


Royal IHC Launches TSHD for Adani

(Photo: Royal IHC)

Dutch shipbuilder Royal IHC informs it has launched Adani’s 8,000m3 IHC Beagle trailing suction hopper dredger (TSHD) – Shanti Sagar 18 – at a ceremony on July 7 at the builder’s shipyard in Krimpen aan den IJssel, The Netherlands.  


Labor Agreement Reached at Newport News Shipbuilding

(Photo: Chris Oxley / HII)

Huntington Ingalls Industries (HII) said United Steelworkers Local 8888 members at its Newport News Shipbuilding division have voted 1,985-131 in favor of a new labor agreement. The new contract will run through November 14, 2021. “This offer is fair


NASSCO Christens Yard Tug Blue Fin

(Photo: General Dynamics NASSCO)

U.S. shipbuilder General Dynamics NASSCO has taken delivery of a new tug, Blue Fin, to support its waterfront activities. The new tug, built by Marine Group Boat Works in National City, Calif., was christened July 8 at a ceremony at NASSCO’s shipyard in Barrio Logan in San Diego


New Passenger Ferry for Governors Island

(Image: Blount Boats)

 U.S. shipbuilder Blount Boats together with naval architecture firm Elliott Bay Design Group (EBDG) has been awarded the contract to design and construct a new passenger-only ferry for Governors Island, New York by The Trust For Governors Island.  


Dual Fuel Tug Delivered to Østensjø Rederi

Photo: Gondan

 After completing its sea trials program, Pax, the second dual fuel tug ever built in Europe, has been delivered to its owner, the Norwegian company Østensjø Rederi A/S. The first tug of this kind built in Europe, Dux, was delivered by the company last May.  


Portland (LPD 27) Completes Builder's Sea Trials

The amphibious transport dock Portland (LPD 27) has completed her first set of sea trials. The test and trials team at Ingalls Shipbuilding spent four days in the Gulf of Mexico operating the 11th San Antonio-class ship and demonstrating its systems. (Photo: Lance Davis/HII)

Amphibious transport dock Portland (LPD 27) being built by Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division has completed her first set of sea trials. Ingalls’ test and trials team spent four days in the Gulf of Mexico operating the 11th San Antonio-class ship and


Vigor Begins Building NYPD Response Boat

(Image: Vigor)

U.S. shipbuilder Vigor said it has begun constructing a fifth 45’ Response Boat - Medium C (RB-M C) for its long-time customer, the New York Police Department (NYPD) Harbor Unit.   The vessel will be fabricated at Vigor Ballard (formerly Kvichak Marine) in the Seattle metro area with


Daewoo May Sell Mangalia Shipyard to Damen

Last delivery of Crude Oil Tanker to Tsakos Energy Navigation. Photo: Daewoo-Mangalia Heavy Industries.

 Daewoo Shipbuilding & Marine Engineering (DSME) will sell the subsidiary of Mangalia Shipyard Romania to a Dutch builder Damen Shipyard Group, reported local media. Damen already owns in Romania a shipyard in Galati.   Korea Economic Daily also said that Damen is in talks to


High-speed Ferry Delivered in the Philippines

Saint Camael and Saint Sariel were designed by Incat Crowther and constructed by Austal Philippines (Image: Saint Camael)

A second 30-meter high-speed passenger ferry for the 2Go Group, MV Saint Sariel, has been delivered in the Philippines, shipbuilder Austal Limited announced.   Austal was awarded a A$13 million contract for two Incat Crowther designed catamarans in June 2016 and construction of both vessels


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.


Ferus Smit Launches Arklow Cliff

 Dutch shipbuilder Ferus Smit said it has launched M.V. Arklow Cliff, the fifth vessel in a series of 10 to be delivered to Irish ship owner Arklow Shipping.   The vessel, Ferus Smit newbuild #428, was launched June 30 at the builder’s Westerbroek yard.  






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