Hitachi Zosen Wins Bergesen Order
Hitachi Zosen Corp., a major Japanese shipbuilder, won 29 billion yen worth of orders from Bergesen D.Y. Group ASA of Norway for four 300,000-ton oil tankers. The tankers will be delivered between March 31, 2000 and January 31, 2001, a spokesman for Hitachi Zosen said. Hitachi Zosen posted a parent current loss of 17.49 billion yen for the year ended March 1999, its first current loss in 10 years, against current profit of 7.02 billion a year earlier, mainly due to losses from unprofitable overseas business.
Hitachi Completes Bulk Carrier for Golden Door
Hitachi Zosen Maizuru Works has completed the Golden Nerina, a 75,484-dwt bulk carrier, for Golden Door Corporation of Liberia. The Panamanian-registered vessel was delivered on August 5 and is equipped with an energy-efficient Hitachi Zosen-MAN-B&W6S60MC (MK-6) type main diesel engine, as well as the Hitachi Zosen Super Stream Duct (SSD) at its stern. According to Hitachi, the dwt and cargo capacity of the Golden Nerina is considerably greater than previously built vessels. It is also the fourth bulk carrier in a sequence built with an ABS Safe Hull.
Keppel Hitachi Cuts Workforce
The recently completed sale of Keppel Marine Industries Limited's marine-related businesses to Keppel Hitachi Zosen for about $99.4 million has allowed Keppel to "carry out a reduction of headcount in the three yards that will result in savings of about $2.9 million a year. Following the consolidation of Keppel Shipyard, Hitachi Zosen Singapore and Keppel Singmarine Dockyard, under Keppel Hitachi Zosen, the Keppel Group is rationalizing its operations to remain competitive.
NKK, Hitachi Zosen Consider Shipbuilding Merger
NKK Corp., a major Japanese steelmaker and shipbuilder, and Hitachi Zosen Corp., another major Japanese shipbuilder, will study the feasibility of cooperating in shipbuilding to strengthen competitiveness in a tough global market. The two companies will consider cooperating in sales, design, procurement and manufacturing, they said. In March, NKK said it was considering an alliance with Hitachi Zosen to try to revive its flagging shipbuilding operations.
Keppel Hitachi Zosen Wins $74.6 million Contract
Keppel Hitachi Zosen has clinched a contract to build two cable laying and repair vessels for a total contract value of more than $74.6 million from C. S. Tycom Reliance, Inc., a subsidiary of Tyco Submarine Systems Ltd. The construction of the cable laying and repair ships will be performed by Hitachi Zosen Singapore, a division of Keppel Hitachi Zosen. Work on the two newbuildings has commenced, with the first vessel scheduled for delivery in the third quarter, and the second vessel in the fourth quarter of 2001. The cable laying and repair vessels, each 7,8000-dwt, are twinscrew, diesel electric-driven and dynamically positioned ships. Measuring 459 ft. (140 m), a breadth of 69 ft. (21 m), with a designed load draft of 25 ft. (7.8 m), the vessels have a speed of 13.9 knots.
JFE Consider Takeover of Hitachi Zosen Shipbuilding
JFE Holdings Inc. is considering taking over Hitachi Zosen Corp.'s shipbuilding operations, which are now conducted by Universal Shipbuilding Corp., a joint venture between the two firms, sources said Saturday. The deal would mark Osaka-based Hitachi Zosen's effective departure from shipbuilding. It will instead concentrate on its mainline environment equipment and plants business to try to bolster profitability, the sources said. The acquisition is expected to accelerate reconfiguration of the domestic shipbuilding industry. Demand for shipbuilding has increased amid the strong global economy. However, domestic shipbuilders face cutthroat competition with South Korean and Chinese rivals as well as deteriorating profitability due to rising materials costs.
Great Ship - Golden Nerina
Ordered by Golden Door Corporation of Liberia, Golden Nerina, a 75,484-dwt bulk carrier was constructed by Hitachi Zosen's Maizuru Works for an August 5 delivery. Registered in Panama, the vessel is the 97th Hitachi Panamax and second Hitachi Panamax jumbo vessel that houses various upgrades over the original version. It is the fourth bulk carrier in the series built with an ABS Safe Hull; deadweight tonnage and cargo capacity are considerably greater than previous vessels. Golden Nerina is equipped with an energy-efficient Hitachi Zosen MAN B&W main diesel engine with the Hitachi Zosen Super Stream Duct (SSD) at its stern. The vessel holds exceptional propulsion efficiency and fuel economy as well.
First ME engine built in Japan by HZ
The first ME engine to be built in Japan, a 6S50ME-C, has been completed by Hitachi Zosen Corporation. The order was placed by Naikai Zosen for Nissho Shipping. The engine was recently presented to the guests at a ceremony at Hitachi Zosen. This engine is destined as the main propulsion engine for a product carrier. The invited audience of over 200 people, included owners, operators, yard personnel and business partners, noted that the engine was very quiet and produced very few vibrations.
JFE to Raise Stake in Shipbuilding
According to reports, Japanese steelmaker JFE Holdings Inc said it has reached an agreement with shipbuilder and engineering company Hitachi Zosen Corp to turn their shipbuilding joint venture into a JFE subsidiary. JFE will acquire an additional 34.9 percent stake in Universal Shipbuilding Corp, its 50-50 joint venture with Hitachi Zosen, for 34.9 billion yen. With the deal, JFE's stake in Universal Shipbuilding will increase to 85 percent while Zosen will hold the remaining 15 percent. JFE said the move is aimed at further increasing Universal Shipbuilding's business efficiency and profitability. Source: Thomson Financial News
Wärtsilä, Hitachi Zosen Fuel Cell Power Plant
Wärtsilä and Hitachi Zosen have signed a business development agreement to develop and market fuel cell based power solutions for distributed power generation applications in Japan. The combined heat and power applications, which can be run on either city gas or bio gas, will feature the use of Wärtsilä's fuel cell technology. The applications will be developed in cooperation by both companies, and marketed by Hitachi Zosen. Wärtsilä and Hitachi Zosen will utilize and combine their experience in technology and business development to provide this new and competitive power solution for the Japanese distributed energy markets. Since Wärtsilä's fuel cells can efficiently utilize natural gas…
NKK, Hitachi Zosen To Join Shipbuilding Operations
Leading Japanese steel maker NKK Corp. and major heavy machinery and engineering firm Hitachi Zosen Corp. will consolidate their shipbuilding operations. The move, which would result in combined sales of $1.3 billion - the second largest in Japan's shipbuilding business - is likely to accelerate reorganization in the depressed industry.
Keppel Hitachi Zosen To Buy Selected Businesses
Keppel Hitachi Zosen Limited (KHZ) has agreed to purchase the shiprepair/shipbuilding and related businesses of Keppel Marine Industries Limited (KMI) for $167 million in cash. Total net assets include $69 million, resulting in a gain of $4 million for KMI. KHZ will acquire all of KMI's investments in Keppel Singmarine Dockyard Pte, Eagle Engineering Company (100 percent), Keppel Philippines Marine (11.6 percent) and Penguin Boat International (16.5 percent). Resulting from this acquisition, KHZ group will offer a full range of shiprepair, conversion and shipbuilding facilities.
First Order Received For ME Engine in Japan
Hitachi Zosen Corp. has received an order for a Hitachi-MAN B&W ME engine. The order, for a 6S50ME-C,was placed by shipowner Nissho Shipping Co. Ltd., and is the first ME engine ordered in Japan. The shipbuilder is Naikai Zosen and the ME engine will be delivered in February 2004. The ME engine will be manufactured by Hitachi Zosen Diesel and Engineering Co., Ltd. Koike), based on a license agreement with MAN B&W Diesel A/S in Denmark. MAN B&W began the development of electronically controlled engines in 1987, and in 1991 it started an electronic control project for developing “Intelligent Engines”. Meanwhile, Hitachi Zosen commenced basic research on hydraulic pressure-driven fuel oil pressure boosting devices and exhaust gas valve control, without the use of a camshaft, around 1985.
ClassNK, Hitachi Zosen Study Engine Monitoring, Diagnostics
Classification society ClassNK and Hitachi Zosen Corporation have completed a joint study of the next generation condition-based monitoring and automatic diagnostic system ClassNK CMAXS LC-A for Hitachi MAN B&W engines. During the study, ClassNK and Hitachi Zosen Corporation developed a system compatible with Hitachi MAN B&W engines and conducted verification tests on one bulk carrier installed with a Hitachi MAN B&W engine. The system for Hitachi MAN B&W engines combines and analyzes big data from the ship’s data logger. Using the analyzed results, the system can produce trend graphs of components/function conditions to prevent serious damage at an early stage. The system also displays appropriate maintenance information such as work procedures and instructions automatically.
Japanese Shipbuilders to Merge
Japanese shipbuilder Hitachi Zosen Corp and steelmaker NKK Corp. agreed to merge their shipbuilding operations into a single company on October 1, 2002. The move, which will result in Japan's second-biggest shipmaker after Mitsubishi Heavy Industries Ltd., is aimed at coping with increasingly harsh global competition by reducing production costs and speeding up product development. It comes as a growing number of Japanese companies are forming alliances in the shipbuilding industry to compete with South Korean rivals, which are benefiting from low manufacturing costs and the weakened won. The news boosted shares of both companies. NKK surged 9.52 percent to close at 92 yen, its highest price for the business year to March, while Hitachi Zosen jumped 4.49 percent to 93 yen.
KHZ to Deliver Cableships to TyCom
Keppel Hitachi Zosen Limited (KHZ) will deliver its first cable laying and repair vessel to TyCom by end August 2001. The vessel was named TyCom Reliance by Lady Sponsor, Ms Claire Calandra, Executive Vice-President and COO of TyCom at the naming ceremony at Hitachi Zosen Singapore yard yesterday. When commissioned, TyCom Reliance will be the most efficient cable laying and repair ship in TyCom's fleet. KHZ was awarded the first contract to build two cable laying and repair vessels for TyCom in April 2000. Subsequently, TyCom exercised its option to build an additional four sister vessels in November 2000. The second vessel is currently being built in Keppel Shipyard and delivery is expected in the fourth quarter of this year.
Keppel Hitachi Zosen Delivers Semi-tender Rig
Keppel Hitachi Zosen (KHZ) has delivered a Semi-Submersible Self-Erecting Tender Rig (SSETR) to Smedvig Asia Ltd (Smedvig). The SSETR was named West Alliance by Mrs. Patricia Chan, wife of Mr. Chan Heng Wah, Drilling Manager of Esso Production Malaysia Inc, at a naming ceremony held in Keppel Shipyard on September 29, 2001. West Alliance has a one plus one optional year drilling contract with Esso Malaysia, which is scheduled to commence in early November this year. Following the exercise of its option, Smedvig will own 100 per cent of West Alliance, and bring the total capital expenditure of the rig to about $85 million. West Alliance represents the newest generation of SSETRs, incorporating the latest technology and equipment.
Keppel Hitachi Zosen Wins Contracts
Keppel Hitachi Zosen Ltd. clinched contracts worth S$60 million. Keppel Hitachi will undertake the construction of a multi-purpose supply vessel for France-based SURF, a member of the maritime branch of the Bourbon Group. It is expected to be delivered in the second quarter of 2002. It will also convert a tanker into a floating production storage and offloading vessel for Nortrans Offshore (S) Pte Ltd, which is expected to be completed in the third quarter of 2001. Keppel Hitachi said it had an order book with a total value of S$614 million.
Bergesen Takes Two More From Hitachi Zosen
Bergesen exercised an option to buy two more 296,000 dwt oil tankers from Japan's Hitachi Zosen Corp for a combined price of $140 million. "The vessels will be delivered in February and June 2002, and will be vessels number seven and eight delivered by Hitachi to Bergesen," Bergesen said in a statement. "The contract for the first six vessels was entered into earlier this year, and the first two vessels have already been delivered," it said. "The Hitachi series represents a strong renewal of Bergesen's tanker fleet. The company has in 1999 and so far this year sold altogether seven old tankers, of which five for scrapping. It has been decided to convert another two old tankers to floating production vessels," it said.
High Times Again in Singapore?
Singapore, once revered for its seemingly insurmountable edge in the ship repair and conversion business, has fallen on harder times in recent years. The forces which have slowed the area's break-neck pace of expansion and dominance are not at all unfamiliar to shipbuilders and repairers in the U.S. and Europe: rising land and labor costs, corporate consolidations and a seemingly endless stream of cut-rate competitors. According to recent financial reports from the area, though, it appears that Singapore's two ship repair yards, Keppel Hitachi Zosen Ltd. and SembCorp Marine Ltd., have found the balance to reign supreme once again. The companies were expected to report modest profit growth after almost two years of restructuring and consolidation.
Keppel Hitachi Zosen Garners $161 Million Contract
Singapore-based ship repairer Keppel Hitachi Zosen Ltd said on Monday it won a contract worth about $161 million to build four cable-laying and repair vessels for TyCom Ltd. The company said in a statement that each of the 7,800 dwt ships would be used for installation and maintenance of the Tycom Global Network, a worldwide undersea fiber optic system being deployed by TyCom. Keppel Hitachi had already been awarded an earlier contract in April for two cable-laying and repair vessels. It said the first two vessels would be delivered in 2001 and the other four through 2002
Water-Treatment Companies Searched Over Bid-rigging
More than 10 major water-treatment plant makers, including Mitsui Engineering & Shipbuilding Co. and Mitsubishi Heavy Industries Ltd., were searched Tuesday by the Fair Trade Commission on suspicion of repeatedly rigging bids for contracts from local governments, as reported by the Japan Times. Also raided were Sumitomo Heavy Industries Ltd., JFE Engineering Corp., Kubota Corp., Ebara Corp., Hitachi Zosen Corp., Takuma Co. and Ataka Construction and Engineering Co. Most of the companies confirmed they were being searched by the antimonopoly watchdog but declined comment on the reason. The firms are suspected of conspiring to select bid winners and fix bid prices for contracts for building water-treatment plants…
Singapore Shiprepair Yards To Report Only Modest Gains
Singapore's two ship-repair yards, Keppel Hitachi Zosen Ltd. and SembCorp Marine Ltd., are expected to report modest profit growth after almost two years of restructuring and consolidation. Keppel Hitachi Zosen is expected to turn in profit of about $19.5 million for 1999 after a $38.3 million loss for the nine months ended December 1998, analysts said. SembCorp Marine, due to release results next Monday, should post a 10 percent rise in earnings of between $46 million and $47.2 million against 1998 profit of $42.3 million. Squeezed by rising land and wage costs, Singapore's shipyard industry underwent a consolidation in 1997 and 1998 that saw the main players reduced to two from four.