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South Korean Shipbuilding

Report: Containership Order Buoys S. Korea

According to a report on Reuters, shares in shipbuilders in South Korea were buoyed when news broke that Daewoo Shipbuilding & Marine Engineering had won a $2 billion order from A.P. Moeller-Maersk AS to build 10 container ships. It was reported that it was also in the running for another larger order, 10 ships at $4b. Daewoo and the entire South Korean shipbuilding industry has been fending off fierce competition from China, as Chinese yards have now staked the claim as the world's most prolific shipbuilding country. (Source: Rueters & Staff reports)  


Shipbuilding Giants Bid for STX France

Photo: STX Offshore & Shipbuilding

 Italian shipbuilding giant Fincantieri SpA and Dutch counterpart Damen Shipyards Group are in the running to buy STX France, which has been put on the block by Korean debt-ridden parent STX Offshore & Shipbuilding Co, reports WSJ.   Meanwhile,  STX Offshore - once the Korea's number four shipbuilder - has submitted a proposal to a court on how to revive its business, according to a report in AFP. STX filed for the restructuring in May after struggling for years with


Editor's Note

Buoyant is perhaps the best word to describe the overall status of the world marine market. As you flip through the pages of this year’s Annual World Yearbook, you will find a number of articles, from the status of the U.S. Shipbuilding market, to the pending boom in the offshore oil and gas markets, to the staggering climb in dayrates for the tanker and bulker markets, which clearly show the industry is on the the way up


France to Defend Interests in STX Shipyards

Photo: STX France

The French government has told South Korea it will oppose any solution for shipbuilder STX France that is against national industrial interests, Industry Minister Christophe Sirugue told Reuters on Thursday on the eve of a deadline for bids. STX France is 66.7 percent owned by failed South Korean shipbuilding group STX. An insolvency court in South Korea ruled last month that the French arm could be sold either separately from the parent, or as part of a bigger sale. Bids are due by Nov


Daewoo to Develop Iranian Shipyard

Image: Industrial Development and Renovation Organization of Iran

 South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME) and the Industrial Development and Renovation Organization of Iran (IDRO) have signed an outline agreement to cooperate on developing the shipbuilding Industry in Iran.   Under the deal with the Industrial Development and Renovation Organisation of Iran, Daewoo Shipbuilding will work on constructing a shipyard and related facilities in Iran, according to Yonhap News Agency.  


New Ship Building Orders for Korean Yards

Photo: Samsung Heavy Industries

 South Korean shipyards emerged on top for new orders in April, Business Korea reported quoting industry data.   The global total amount of new shipbuilding orders reached 750,000 CGT last month and 340,000 CGT and 260,000 CGT went to South Korean and Chinese shipbuilders, respectively.    Japanese shipyard orders came to nil. In terms of numbers, Korean shipyards clinched new orders to build 12 ships.  


South Korea is Number One

According to a report from the Kyodo news service, the combined tonnage for ship orders received by South Korean shipbuilders was higher than that of Japanese shipbuilders in 2002. The Shipbuilders' Association of Japan reported that Japanese shipbuilders received orders worth a combined 5.9 million tons in the year, down 25.9% from 2001. South Korean shipbuilders reportedly received orders for a combined 7.59 million tons, up 18


EU To Propose Subsidy Program To Battle South Korea

The European Union is proposing to subsidize its embattled shipyards in a long-standing dispute over what it views as unfair competition from South Korea. The EU will make the proposal to an EU industrial council meeting in Sweden on May 15, said EU Ambassador to Korea Frank Hesske. Sweden is the current president of the 15-member group. The EU, which has been holding talks with South Korea about the issue for the past two years, could take the case to the World Trade Organisation (WTO)


Hyundai Heavy to Import Chinese Steel Plates

According to reports, Hyundai Heavy Industries Co., Ltd., has signed a Memorandum of Understanding with Baoshan Iron & Steel Co., Ltd. to import wide and heavy plates for shipbuilding. Hyundai Heavy Industries plans to import 180,000 tons of steel plates from Baosteel yearly. Hyundai Heavy Industries said that the price was lower than that offered by Japanese steelmarkers and a South Korean report said that South Korea would gradually enlarge imports of China- made steel plates for


STX Targets $3b Sales in 2012 at Chinese Shipyard

South Korea's STX Shipbuilding Co., said that its shipyard to be built will post $3b in sales in 2012, similar to that of its shipyard in Jinhae, South Korea. During a ground-breaking ceremony for the shipyard, Kang Duck-soo, chairman of STX Group, said its $500 million project to build the first South Korean-owned shipyard in China by the end of 2008 will help the company emerge as a global shipbuilder. STX Shipbuilding and its affiliate, STX Corp


Out of 210 Ships, 158 Hit South Asian Beaches in Q2

Image: NGO Shipbreaking Platform

 There were a total of 210 ships broken in the second quarter of 2017. 158 of these ships ended up on South Asian beaches for dirty and dangerous breaking, said NGO Shipbreaking Platform.   The Platform was able to document five accidents at the shipbreaking yards in Chittagong


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


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


Japan Bank Finances Danish Shipper

Photo: Japan Bank for International Cooperation (JBIC)

 The Japan Bank for International Cooperation (JBIC) will provide a total of $28.3 million in syndicated loans with French bank BNP Paribas to help a major Danish shipping operator’s unit buy cargo vessels to be built by leading Japanese shipbuilder Imabari Shipbuilding


APT’s Palmetto State Passes Sea Trials

Photo: NASSCO

The Palmetto State, the eighth and final tanker to be constructed at General Dynamics NASSCO as part of a dual-customer program, has recently returned from its first run at sea. The Palmetto State and her sister ships are the most fuel-efficient tankers to service the Jones Act trade


Rosneft, Hyundai Samho Strengthen Technological Cooperation

Pic: Rosneft

 Rosneft and Hyundai Samho Heavy Industries Co. Ltd. (HSHI) signed an agreement under which the South Korean company will provide technical support in the design and construction of Aframax class vessels at the Zvezda shipyard in Bolshoy Kamen.  


Polaris Orders 3 Iron Ore Carriers at Hyundai

Pic: Polaris Shipping Co

 South Korean shipping firm Polaris Shipping Co has placed an order with Hyundai Heavy Industries (HHI) to build three very large iron ore carriers, Yonhap reported.   Polaris said the 325,000-ton iron ore carriers will replace some of its aged ships


N.Korea Fires Missiles Again, S.Korea Delays THAAD

Missiles flew about 200 km into sea off east coast - S.Korea; launch is fourth by Pyongyang in four weeks.   North Korea fired what appeared to be several land-to-ship missiles off its east coast on Thursday, South Korea's military said


Austal, ASC Partner for Australian Frigate Program

(Photo: ASC Shipbuilding

Australian shipbuilders Austal Limited and ASC Shipbuilding have joined forces for the build of the SEA5000 Future Frigates Program.   Under this arrangement, the two say they will collaborate in support of the program, pooling complementary strengths, skills and experience.  


KOGAS to Receive first Cheniere LNG Cargo

File Image: A typical LNG Carrier at Sea (CREDIT: MISC)

KOGAS to receive first LNG cargo from Cheniere in July; this marks start of 20-year supply contract.   Korea Gas Corp (KOGAS) will early next month receive its first liquefied natural gas (LNG) cargo under a long-term supply deal with U.S


Korean Shipbuilding Parts Export to China Surge

© lnzyx / Adobe Stock

China's imports of shipbuilding parts and equipment produced by South Korean firms surged this year, Yonhap reported.   The report quoted Korea Trade-Investment Promotion Agency (KOTRA) saying that China's imports of South Korean shipbuilding parts and equipment reached US$28


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.


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


Aqualis Lands Audit Work for LNG Carrier

Offshore marine and engineering consultancy Aqualis Offshore, part of Oslo-listed Aqualis ASA, said it has been contracted by Hyundai Samho Heavy Industries Co. Ltd to provide an engineering study of a new-build liquefied natural gas (LNG) carrier the yard is constructing for Teekay LNG.  






 
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