Daewoo Shipbuilding Q1 Net Rises 23%
According to a May 13 report from Asia Pulse Data Source, Daewoo Shipbuilding & Marine Engineering Co., the world's third-largest shipbuilder, said its first-quarter earnings increased 23 percent on increased sales. Net profit reached $77.5m in the January-March period. (Source: Asia Pulse Data Source)
STX to Build Vietnam Shipyard
The Vietnamese Prime Minister has approved a project of the STX Shipbuilding Co Ltd of South Korea to build a shipyard in the Van Phong economic zone in the central province of Khanh Hoa, said the Asia Pulse According to the head of the zone's Management Board, Nguyen Trong Hoa, the shipyard will be the largest in the region with an initial investment capital of $500m. The shipyard will be built in Van Phong Port. In the first phase of the project, the port will be capable of building 15 ships with a total capacity of about 900,000 DWT. Source: Asia Pulse
STX Shipbuilding Wins $317m Order for Six Bulk Carriers
According to Asia Pulse, South Korean shipyard STX Shipbuilding Co. has won an order $317m to build six bulk carriers for a company in the Middle East. The vessels will be delivered by April 2011. STX Shipbuilding did not identify the company's name. Source: Asia Pulse
STX Offshore Wins $253m Order for Drill Ship
According to a report from Asia Pulse Data Source, STX Offshore & Shipbuilding Co., a South Korean shipbuilder, has won a $253m order to build a drill ship. Under the deal with Noble Drilling Asset Holding Corp. of the United States, STX Offshore will deliver the vessel used for deep water oil exploration by May 2012. (Asia Pulse Data Source via COMTEX)
Hyundai Heavy's October Orders Fall
According to a report from Asia Pulse Data Source, Hyundai Heavy Industries Co., said that its orders sank 57 percent in October from a year earlier on falling demand for new ships, reflecting a declining shipbuilding cycle. The orders received last month fell to $325m from $758m a year earlier, the shipyard said in a regulatory filing. The company said it did not receive new orders for ships this month. Contracts for marine engines plunged 99 percent to $2m last month and those for construction equipment fell 35 percent to $169m, it said. Orders for offshore platforms more than doubled to $15m, according to Hyundai Heavy. In the first 10 months of the year, Hyundai Heavy's orders gained 20 percent to $26.1b. (Source: Asia Pulse Data Source)
A Record Year for S. Korean Shipbuilders
According to Asia Pulse/Yonhap, South Korea's shipbuilders enjoyed a bumper year in 2005, receiving the largest amount of orders in the world. Domestic shipbuilders received combined orders of 14.5 million compensated gross tons (CGT) in 2005, almost twice as much as the European Union, ranked second with 8.5 million CGT. The runners-up were China with 7 million CGT and Japan with 6.2 million CGT. Despite the industry's downturn, South Korean shipbuilders' global market share expanded last year to 38%, up from 36% a year earlier. At the end of last year, domestic shipbuilders had a combined order backlog of 39.7 million tons, breaking the 30-million-ton level for the second consecutive year.
Hanjin, PMMA to Establish Naval Architecture Course
According to Asia Pulse, as part of its effort to become one of the leading naval educational institutions, the Philippine Merchant Marine Academy (PMMA) recently met with officials of South Korean giant Hanjin Heavy Industries and Construction (HHIC) (KSE:003480) for the inclusion of Naval Architecture and related disciplines to its roster of courses. Construction is underway for shipyard located in Sitio Agusuhin, which is adjacent to the Subic Bay Freeport. The project, which is seen as a fitting statement showing the strong relationship between the Philippines and South Korea, complements the ongoing construction of the new container port under the Subic Port Development Project…
Coast Guards Conduct Joint Exercise
Asia Pulse said in a bid to develop doctrines and procedures in inter-operability collaborations with foreign counterparts, the Philippine Coast Guard (PCG) held a joint actual/practical exercise with the Japan Coast Guard (JCG). The exercise area covered 15 square miles and has a range of 7.5 west of Manila, according the report. On the other hand, Coyme said for air and sea inspection, the elite force will be supported by PCG Helo, PCG 56 metre SAR (search and rescue) vessel (BRP Pampanga, SARV 003) and BRP Ilocos Norte (SARV 3501) , BRP Corregidor (AE 891), TB Habagat (TB 271) and Japan Coast Guard (JCO) Patrol. Source: Asia Pulse
Daewoo Wins $504m Contract to Build Drill Ship
According to the Asia Pulse, the Daewoo Shipbuilding Marine & Engineering Co., said it had won a 504m order to build an offshore drill ship. The deal, from a U.S. company, calls for Daewoo Shipbuilding to deliver the semi-submersible ship by February 2010. The South Korean company won a total of $4.3b worth of orders in 2006 to build offshore facilities such as platforms and rigs. For 2007, Daewoo Shipbuilding expects more than $3b in orders to build such facilities. Source: Business in Asia
STX Shipbuilding Wins $199m Deal
SEOUL, Sept 29 Asia Pulse - South Korea's STX Shipbuilding Co. said Friday it has won a $198.6m deal to build four container carriers for a Japanese company. STX Shipbuilding will deliver the vessels for NYK Line, Japan's leading logistics company, by the end of 2009, the company said in a regulatory filing. The company, ranked seventh in the world by order backlog, earlier this week revised its order target for this year upward to 73 ships from 54 vessels.
Indonesia's Arpeni Buys New Vessels
Arpeni Pratama Ocean Lines said it plans to invest $130 million to buy 24 vessels to strengthen its fleet this year. The company had additional equity amounting to $33.1m from a rights issue last year, but the fund will not be enough to cover the expansion, Suhendra said. According to sources, a number of local and foreign banks have offered loans for the company to buy the ships. The types of vessels to be bought include tug boats, barges, floating cranes and large ships for coal transport. (Source: Antara/Asia Pulse)
Daewoo Shipbuilding Wins 606-bln Deal
According to Asia Pulse Data Source, Daewoo Shipbuilding & Marine Engineering Co., has won a deal valued at 606 billion won (US$647 million) to build a drill ship. The deal calls on Daewoo Shipbuilding to deliver the vessel by July 2011, the company said in a regulatory filing, without identifying the customer. Daewoo Shipbuilding has won more than $22 billion worth of contracts so far this year to build 136 vessels.
Hyundai Heavy, Daewoo Miss Order Targets
According to AsiaPulse, South Korea's Hyundai Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co.,the world's No. 1 and No. 3 shipbuilder, missed their order goals this year as the global economic recession has dampened demand for new vessels, an industry source said Thursday, Dec. 18. (Source: AsiaPulse)
Daewoo Completes Largest Floating Dock
According to a Sep 9 report from AsiaPulse, Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), the world's second-largest shipbuilder, said that it has completed the construction of the world's largest floating dock. The dock is 1,437 ft long, 275.5 ft wide and 77 ft high, according to the company. (Source: AsiaPulse)
Hyundai Samho Heavy Retakes No. 5 Spot
South Korea's Hyundai Samho Heavy Industries Co. retook its spot as the world's No. 5 shipbuilder this year, with local shipyards controlling nearly 35 per cent of global shipbuilding orders, a market researcher said Wednesday. Hyundai Samho Heavy Industries' order backlog amounted to 3.23 million compensated gross tons (CGTs) at the end of July, up 550,000 CGTs from a month earlier, Clarkson Plc. said. The shipyard's brisk sales were due to an order from an Israeli shipping company placed in early July for four units of 10,000 TEU-class and another four units of 8,200 TEU-class container carriers, the London-based company said. South Korea's four leading shipyards maintained their posts as the top four companies in the global industry, according to Clarkson. Source: Asia Pulse
Hanjin Orders Ultra-Large Container Ships
Asia Pulse has reported that Hanjin Shipping Co., South Korea's leading shipping company, has placed an order for ultra-large container carriers, the company said today, as the global industry competes to secure bigger-capacity ships. It is the first time a local shipper has placed such an order. Hanjin Shipping ordered five units of 10,000-TEU-class container carriers from Daewoo Shipbuilding & Marine Engineering Co., the world's No. 2 shipyard, the company said. TEU stands for 20-foot-equivalent unit. The five ships, each large enough to contain 9,954 units of 20-foot containers, will operate on a trans-Pacific route beginning in February of 2010, the company said.
STX Reports Rise in Orders
STX Group said its affiliate STX Shipbuilding Co. has won orders valued at $4.7b in the first half of the year, compared with $1.7ba year earlier. The shipbuilding orders it has received so far are roughly 85 per cent of its annual target of $5.5 billion, it said. In June alone, STX Shipbuilding, the world's seventh-largest shipbuilder, clinched orders valued at $1.1 billion. STX Group has four major subsidiaries -- STX PanOcean Co., STX Shipbuilding Co., STX Engine Co. and STX Energy Co. The group is building another shipyard in China to lower costs and increase capacity to meet rising demand for vessels. The Chinese shipyard is expected to post $3b in sales in 2012, similar to that of its shipyard in Jinhae, South Korea. Source: Asia Pulse
China Overtakes Korean Shipbuilding
South Korean shipbuilders were overtaken by their Chinese rivals in new orders acquired in the first four months of the year, a London-based market researcher said on Wednesday. South Korean shipbuilders such as Hyundai Heavy Industries Co and Samsung Heavy Industries Co received a combined 6.9 million compensated gross tons (CGTs) in new orders in the January-April period, up 6.9% from a year ago, Clarkson Research Studies said. However, South Korea maintained its No 1 ranking in the global shipbuilding industry in terms of backlogs of orders and the volume of vessels built, the market researcher said. South Korean shipbuilders' combined backlogs of orders totaled 46.4 million CGTs as of the end of April…
China's Shipbuilding Picks up Speed
China's shipbuilding sector has picked up speed, with economic performance, product quality and manufacturing capability improving rapidly. According to Asia Pulse via Yahoo!, the output value of the industry has been growing at an average annual rate of 26 percent in the 2000-2004 period. Since the 10th five-year plan period, the industry has realized 31 per cent growth in total output value and 35 per cent growth in sales revenue. At present 70 per cent of the vessels built will be exported. The industry has exported vessels to more than 110 countries, including the United states, Japan, Germany, France and Canada, with 2004 exports hitting 5.6 million deadweight tons, valued at US$3.16 billion. Of the orders in hand, 85 per cent are placed by foreign ship owners.
Korean Firms Win Qatar LNG Carrier Contracts
The Samsung Heavy Industries Co., has won a $1.14b deal to build four liquefied natural gas (LNG) carriers. The deal from Qatar Gas Transport Co. Ltd. calls for Samsung Heavy to build the four carriers worth $286 million each by February 2010, the company said in a regulatory filing. Meanwhile, the Daewoo Shipbuilding & Marine Engineering Co., the world's third-largest shipyard, said Monday it had received a $1.22 billion order to build five LNG carriers. The deal calls for Daewoo Shipbuilding to also supply four of the five carriers to Qatar Gas Transport Co. Ltd., and one to an unidentified European company. Source: Asia Pulse
Report: S. Korea lags China, Japan in Shipyards
According to reports, South Korea fell behind China and Japan in the number of shipyards ranking in the world's top 50 in terms of order backlogs as of the end of May, although seven South Korean companies were No 1 through No 7, a London-based market research firm said. Fifteen Japanese shipyards and the same number of Chinese companies were included in the world's top 50 list, while only nine South Korean shipyards made it, Clarkson Plc. said. South Korea boasts the world's top seven shipyards - Hyundai Heavy Industries Co, Samsung Heavy Industries Co, Daewoo Shipbuilding & Marine Engineering Co, Hyundai Mipo Dockyard Co, Hyundai Samho Heavy Industries Co., STX Shipbuilding Co and Hanjin Heavy Industries & Construction Co.
Large Shipbuilders Keep Profits Despite Steel Price Hike
An analyst from CITIC Securities Co., Ltd., said that the prices of steel products for shipbuilding would not increase as much as others, thanks to the long term partnership between shipbuilders and steel producers. Baosteel, a flagship in China's iron and steel industry, is a shareholder of China State Shipbuilding Corporation, and the two parties have co-invested in a leading shipbuilding base in China, Gao noted. Although China's steel enterprises have not yet released the growth rate of steel prices for the shipbuilding industry, Gao remained positive on the development of large shipbuilders. A researcher from China Shipbuilding Industrial Economy Research Center…
Q88 LLC Opens Office in Athens
Q88 LLC, a software as a service technology provider to the maritime industry, has opened an office in Athens, Greece. According t o the company, the new office further increases the its presence in Europe and will serve as a key hub for client relations and business development. “The Greek shipping community is so important to our success as a company and the industry as a whole. Having a presence in Greece is something we are very excited about. The Athens office will allow us to further strengthen relationships in the region and allow us to tap into the pulse of the industry,” said Fritz Heidenreich, president and founder of Q88.