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Saturday, January 20, 2018

Daewoo Shipbuilding ~26 Marine Engineering Ltd News

Imabari to Acquire Minaminippon Shipbuilding

Imabari Shipbuilding Co., Ltd. has reached an initial agreement to acquire compatriot Japanese shipbuilder Minaminippon Shipbuilding Co., Ltd. The takeover, which remains subject to further discussions before the deal is concluded, would take effect April 1, 2018. Minaminippon’s present shareholders include Mitsui Engineering & Shipbuilding Co., Ltd. (25 percent) and Mitsui O.S.K. Lines, Ltd. (24 percent).

Daewoo Forms Joint Venture with Nigerian National Petroleum

Daewoo Shipbuilding & Marine Engineering Co Ltd will enter the shipping business by forming a joint venture company with Nigerian National Petroleum Co, Daewoo Shipbuilding said. The joint venture, tentatively named Nigeria Daewoo Shipping Ltd, will have a capital base of 10 mln usd, with Daewoo Shipbuilding owning 51 pct and Nigerian National Petroleum the rest, Daewoo Shipbuilding said. Daewoo Shipbuilding will be in charge of the management and Nigerian National Petroleum will supply crude oil for shipping. Source: Forbes

Ship of the Year: MOL FSRU Challenger

MOL FSRU Challenger. (Photo: Mitsui O.S.K. Lines, Ltd.)

MOL FSRU Challenger is Maritime Reporter & Engineering News' Great Ships of 2017. The World’s Largest Floating Storage and Regasification Unit (FSRU Max). Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) in middle of October, took delivery of MOL FSRU Challenger the world largest floating storage and regasification unit (called FSRU Max vessel) from South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co., Ltd. The state-of-the art FSRU Max vessel has a variety of valued functions…

Scorpio Bulkers Continue Newbuilding Spending Spree

A Scorpio Bulker: Image courtesy of the owners

Scorpio Bulkers inc. announce newbuilding agreements for 3 Capesize dry bulk vessels for an aggregate of US$162-million from the South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME). The three Capesize dry bulk carriers of 180,000 dwt each are to be built at DSME's subsidiary facility Daewoo Mangalia Heavy Industries S.A. in Romania. All these 180,000 dwt ships are to be built in Romania and are of the same specification with the first two to be delivered in Q4, 2014 and the remaining vessel later in Q1, 2016. About Scorpio Bulkers Inc. Scorpio Bulkers Inc.

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. The parties plan to establish…

Daewoo Gets $155M Order For Tankers

Daewoo Shipbuilding and Marine Engineering Co., Ltd. has won a $155 million order to build five oil tankers for Stelmar Shipping. Daewoo Shipbuilding will construct five crude oil tankers, which carry 69,000 tons of crude oil each. The ships will be delivered to the Greek company by the end of 2004, according Daewoo Shipbuilding.

Daewoo Shipbuilding $200m Greek Ferry Deal

According to a June 26 report from Reuters, Daewoo Shipbuilding & Marine Engineering of South Korea, the world's third largest shipbuilder, said it won a $200m order from Greece's Attica Group to build two ferries. Daewoo plans to deliver the ships by the first quarter of 2012. (Source: Reuters)

Aker Kvaerner Awarded Drilling Equipment Contract

Aker Kvaerner has signed a contract with Daewoo Shipbuilding & Marine Engineering Co. Ltd in South Korea for delivery of drilling systems for two semi-submersible drilling rigs ordered by SeaDrill. The total contract value for Aker Kvaerner is approximately NOK 930 million. The scope of work for Aker Kvaerner MH is to deliver two complete drilling packages consisting of engineering, equipment deliveries and commissioning services. The contract between Daewoo shipbuilding & Marine Engineering Co. Ltd. and Aker Kvaerner MH includes opportunities for options to be agreed and amended at a later stage. The deepwater semi-submersible drilling rigs are scheduled for delivery in Q1/2008 and Q3/2008.

Aker Kvaerner Awarded Drilling Equipment Contract

Aker Kvaerner has been awarded a contract with Daewoo Shipbuilding & Marine Engineering Co Ltd in South Korea for delivery of drilling facilities for an ultra deepwater semi submersible drilling rig ordered by an international drilling contractor. The total contract value for Aker Kvaerner is approximately USD 86 million. The award is based on an option included in a contract Aker Kvaerner signed with Daewoo Shipbuilding & Marine Engineering Co. Ltd in February 2006. The work is undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner MH in Kristiansand. The scope of work for Aker Kvaerner MH is to deliver a complete drilling package including engineering, equipment deliveries and commissioning services. The ultra deepwater semi-submersible drilling rig is scheduled for delivery in 2009.

Aker Kvaerner Awarded Drilling Equipment Contract with Daewoo

Aker Kvaerner has been awarded a contract with Daewoo Shipbuilding & Marine Engineering Co Ltd in South Korea for delivery of drilling facilities for an ultra deepwater semi submersible drilling rig ordered by an international drilling contractor. The total contract value for Aker Kvaerner is approximately $86m. The award is based on an option included in a contract Aker Kvaerner signed with Daewoo Shipbuilding & Marine Engineering Co. Ltd in February 2006. The work is undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner MH in Kristiansand. The scope of work for Aker Kvaerner MH is to deliver a complete drilling package including engineering, equipment deliveries and commissioning services. The ultra deepwater semi-submersible drilling rig is scheduled for delivery in 2009.

Aker Kvaerner Awarded Contract with Daewoo

Aker Kvaerner has been awarded a contract with Daewoo Shipbuilding & Marine Engineering Co Ltd in South Korea for delivery of drilling facilities for an ultra deepwater semi submersible drilling rig ordered by an international drilling contractor. The total contract value for Aker Kvaerner is approximately $86m. The award is based on an option included in a contract Aker Kvaerner signed with Daewoo Shipbuilding & Marine Engineering Co. Ltd in February 2006. The work is undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner MH in Kristiansand. The scope of work for Aker Kvaerner MH is to deliver a complete drilling package including engineering, equipment deliveries and commissioning services. The ultra deepwater semi-submersible drilling rig is scheduled for delivery in 2009.

Daewoo Gets $1.22b Order to Build Gas Carriers

Daewoo Shipbuilding & Marine Engineering Co., said it has received a $1.22b order to build five liquefied-natural-gas carriers. The deal calls for Daewoo Shipbuilding to supply four of the five carriers for Qatar Gas Transport Co. Ltd., and one for an unidentified European company, the company said in a regulatory filing. Source: Yonhap

Daewoo wins $430m Contract to Build Drill Ship

Daewoo Shipbuilding Marine & Engineering Co., won a $430m order to build an offshore drill ship. The deal from Odfjell Invest Ltd. calls for Daewoo Shipbuilding to deliver the semi-submersible ship by June, 2010, the company said. Daewoo Shipbuilding said that the deal includes an option to build another drill ship. The company won a total of $4.3 billion worth of orders in 2006 to build offshore facilities such as platforms and rigs. For the year, Daewoo Shipbuilding expects more than $3 billion in orders to build such facilities. So far this year, Daewoo Shipbuilding has won $1.65 billion worth of orders to build ships and offshore facilities, about 15 percent of this year's target of $11 billion. Source: Yonhap

Daewoo Shipbuilding Selling Shares to Raise Funds

South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd said on Thursday it is planning to sell shares to raise funds by the end of this year, with details to be discussed with its creditor banks. Daewoo Shipbuilding, the world's largest shipyard in terms of orderbook tonnage for July, according to Clarksons Research, reported earlier this week net losses of 1.19 trillion won ($1.08 billion) for the first half of 2016.   Reporting by Joyce Lee

Daewoo Shipbuilding to Issue New Shares Worth $353 Mln

Daewoo Shipbuilding & Marine Engineering Co Ltd said on Tuesday it will issue new shares worth 414 billion won ($353.1 million) to improve its financial position.   Daewoo Shipbuilding, the world's largest shipbuilder in orderbook by tonnage, is set to report its biggest yearly operating loss this year after a loss of $2.6 billion in the second quarter due to construction delays on offshore projects.   ($1 = 1,172.5100 won) (Reporting by Joyce Lee; Editing by Gopakumar Warrier)

Korea's Daewoo To Grab Hold of LNG Ship Market

Daewoo Shipbuilding and Marine Engineering Co Ltd aims to grab half this year's 15 to 20 orders for Liquefied Natural Gas (LNG) carriers, strengthening its lead in the higher end of the shipbuilding market, the company said on Monday. Company officials reportedly said that Daewoo was expected to sign a $500 million deal to build an offshore fixed platform in Angola in April. The price for an LNG carrier is about $160-$175 million, about twice the price for a 300,000-ton class very large crude carrier (VLCC). In 2001, Daewoo Shipbuilding secured 10 of the 29 new liquefied natural gas carrier orders placed worldwide. Company officials said the overall market still looked tough after excessive orders in 2000…

Aker Kvaerner to Deliver Mooring Equipment to Daewoo

Aker Kvaerner has been awarded a contract with Daewoo Shipbuilding & Marine Engineering Co. Ltd in South Korea for delivery of mooring equipment. The total contract value for Aker Kvaerner is approximately NOK 60 million. The contract involves supply of mooring equipment for two semi-submersible drilling rigs to be built at Daewoo Shipbuilding & Marine Engineering Co. Ltd for the Norwegian rig owner SeaDrill. Four sets of double mooring winches and eigth underwater fairleads will be used to pull in and secure eigth 84mm chains used in the mooring lines. Integrated safety features play a high role in equipment of this type. These features include…

Korea Mulls New Ship Financing Company

Photo: Hanjin Shipping Co Ltd

Reuters report quoting South Korea government sources that the country is planning  to establish a state-backed ship financing company with an initial capital of 1 trillion won ($871.73 million) to help improve the financial health of Korean shipping companies. The government would provide financing of 6.5 trillion won ($5.67 billion) in total so that local shipping firms could acquire new vessels. New vessel orders won by South Korean shipbuilders between January-September fell by 87 percent compared to the same period in the previous year.

Daewoo Heavy Approves Split Plan

Daewoo Heavy Industries Co. shareholders approved a plan to split the firm into three companies, officials said. The plan will go into effect May 1. Under the plan, the company will split into shipbuilding firm Daewoo Shipbuilding and Marine Engineering Co., machinery maker Daewoo Heavy Industries and Machinery Ltd. and Daewoo Heavy Industries Co. for the remaining operations. Daewoo Heavy is among the 12 Daewoo Group firms put under a creditors-led debt restructuring program in late August last year, as the group was teetering on the brink of insolvency.

Daewoo Split Predicted To Add Value

The splitting of Daewoo Heavy Industries into three firms should boost shareholder value, analysts said. The companies will eventually benefit from the split, analysts said, calling it a "painful but inevitable choice." Analysts said the shipbuilding and machinery units would be reborn as clean companies, while Daewoo Heavy Industries Co. would become a paper company, shouldering most of the company's debts. However, they said, Daewoo Heavy will eventually be liquidated in four or five years once it settles its internal debt issues. A shareholders meeting approved a plan to split the company into Daewoo Shipbuilding and Marine Engineering Co, machinery maker Daewoo Heavy Industries and Machinery Ltd., with Daewoo Heavy Industries Co taking the remaining operations.

Hual to Increase Fleet

Leif Höegh & Co. has entered an agreement with Daewoo Shipbuilding & Marine Engineering Co., Ltd. for three PCTC (Pure Car Truck Carrier) newbuildings (6100 ceu) for delivery in 2005. Delivered price will be approx. $50 million per vessel. vessels. 2005/2006. in a best possible way. increase to 32 vessels. Hual also operates approx.

Hamburg Süd: “Santa Ursula” Christened in Brazil

On Thursday, 26 July 2012, Hamburg Süd celebrated the christening of its “Santa Ursula” container ship in the port of Santos (Brazil). The sponsor of the “Santa Ursula” is Marcia A. M. dos Santos, Vice President of Marfrig Alimentos S/A. The “Santa Ursula” is the eighth new build in a series of ten container ships. With an overall length of approximately 300 meters and a beam of 42.8 meters, it has a container capacity of 7,100 TEUs just like its sister ships. The ships in the current “Santa” series are therefore not only the largest ships ever built for Hamburg Süd but, with 1,600 reefer plugs each, are amongst the ships with the largest reefer capacity worldwide and can therefore meet the continuously growing demand for Brazilian exports of fresh fruit…

Daewoo Shipbuilding Wins $500M Order from Norway

Daewoo Shipbuilding & Marine Engineering Co Ltd has received a $500M order from Norway's Seadrill Ltd to supply a semi-submersible oil drill facility. Under the deal, the buyer can place two additional orders for drill facilities, in November and six months thereafter, which would take the total value of the contract to $1.5B Source Forbes.com

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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