Marine link
 

Shipbuilders

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.  


Austal Delivers Its 6th LCS to the US Navy

Austal USA delivered its sixth littoral combat ship to the U.S. Navy on Friday, September 15. The future USS Omaha (LCS 12) is the nation’s 10th littoral combat ship delivered to the Navy, the first of two that the shipbuilder will deliver this year.  


Harley Marine Orders Ocean Tugs from Conrad

The Entech Designs tugs will be built by Conrad’s Morgan City Shipyard for Harley Marine Services. (Image: Entech Designs)

Louisiana shipbuilder Conrad Shipyard said it has been awarded a contract to build two 3,000HP ocean service tugboats for Seattle’s Harley Marine Services.   The two new vessels, designed by Entech Designs, LLC, will be 100-feet in length, with a beam of 34’


Horizon Shipbuilding to 'Reorganize' Amid Insufficient Revenues

File Image: An aerial view of Horizon Shipbuildings Bayou La Batre, Alabama facilities. CREDIT: Horizon Shipbuilding

Horizon Shipbuilding announced it will reorganize amid revenues insufficient for maintaining normal operations.   Lance C. Lemcool, Horizon Shipbuilding Vice President, today issued the following statement on behalf of the Alabama-based boat builder:  


General Dynamics Delivers Submarine Colorado

General Dynamics Electric Boat delivered the nuclear-powered attack submarine Colorado (SSN 788) to the U.S. Navy.   The 15th ship of the Virginia Class, Colorado is the fifth of the eight-ship group known as Block III. According to the builder


Austal Opens Adelaide Office

L-R: Thomas Sass (Fassmer), Hon Martin Hamilton-Smith - Minister for Defense Industry (SA), David Ridgeway MLC - Leader of the Opposition in the Legislative Council, Vickie Chapman - Deputy Leader of the Opposition, David Singleton (Austal), Senator David Fawcett and Senator Alex Gallagher (Photo: Austal)

 Austal Australia has opened its Adelaide office, which will support the design and production for the $3 billion Offshore Patrol Vessel (OPV) program.   Officially welcoming Austal’s expansion into Adelaide were Martin Hamilton-Smith, Minister for Defense Industry (SA)


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


Korea Returns to First Place in Shipbuilding

File photo: Hyundai Heavy Industries

 South Korean shipbuilding industry has surpassed China in three months and reached the top of global monthly shipbuilding orders.   A report in Yonhap said that South Korean shipyards recaptured the No. 1 position in new orders worldwide in August amid a plunge in overall numbers.


Meyer Werft Begins LNG Cruise Ship Build for AIDA

(Photo: AIDA Cruises)

German shipbuilder Meyer Werft has laid the keel for AIDAnova, set to become the first cruise ship worldwide that will operate both at sea and in port fueled with liquefied natural gas (LNG).   With AIDAnova’s first building block lowered into place on September 6, 2017


Investors Give Kleven a Boost

Kleven Verft in Ulsteinvik, Norway. (Photo: Kleven)

A group of investors has pumped nearly $40 million into Norwegian shipbuilder Kleven.    Norwegian cruise, ferry and cargo operator Hurtigruten and its owners, Petter A. Stordalen and TDR, will be the largest partner in the newly established company, with a 40 percent share


Fire Kills Five at ASL Marine's Batam Shipyard

Photo: ASL Marine Holdings

 The vessel owner-operator and shipbuilder  ASL Marine Holdings said that a fire occurred in its shipyard in Batam, Indonesia.   ASL press release that initial investigations showed the incident occurred on board a tanker that was being repaired at one of its dry docks


Apply Now for "Great Ships of 2017" Award

Great Ships 2016 cover.jpg

The online application for "Great Ships of 2017" is now open.    Will your ship be honored as a “Great Ship of 2017” in the December 2017 edition of Maritime Reporter & Engineering News?   Every year


Germany Awards $2.4 Bln Naval Shipbuilding Contract

The German defence procurement agency said on Tuesday it has awarded a contract valued at nearly 2 billion euros ($2.4 billion) to a consortium of shipbuilders led by Lurrsen Werft for five new corvettes to be delivered from 2022 to 2025.  


Ingalls Launches Guided Missile Destroyer DDG 51

Ingalls Shipbuilding launched the Arleigh Burke-class (DDG 51) guided missile destroyer Delbert D. Black (DDG 119) on Friday, September 8, 2017. (Photo by Andrew Young/HII)

The new Arleigh Burke-class (DDG 51) guided missile destroyer Delbert D. Black (DDG 119) was launched by Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division on Friday, September 8, in Pascagoula, Miss.   “A quality launch is a critical milestone in a ship’s


Shipbuilding: China Races Ahead of South Korea

Photo: China Shipbuilding Industry Corporation (CSIC)

 Shipyards in China have surpassed  South Korea again in terms of receiving the most orders for new ships and platforms, while fierce battle for the number one position in shipbuilding orders continues.   China ranked first globally with 195 vessel orders


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






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