Marine Link
Friday, January 19, 2018

Industries Reports News

Conrad Industries Reports Final 1999 Results

Conrad Industries reported net income of $1.5 million for the year ended December 31, 1999, compared to net income of $254,000 for the year ended 1998. Revenues for the year ended December 31, 1999 were $32.6 million compared to $46.3 million for the year ended December 31, 1998. The results for 1998 were affected by a non-cash executive compensation charge of $4.7 million.

Hyundai Sets Output Record

Hyundai Heavy Industries reported that it set in December a new world record in the monthly output of large ship engines, according to a report on http://joongangdaily.joins.com. Hyundai Heavy produced 17 large ship engines capable of generating a total of 890,000 hp last month, above its previous record of 760,000 horsepower in June, the company said. (Source: http://joongangdaily.joins.com)

HHI Wins $400m LNG Ship Deal

Hyundai Heavy Industries reported winnning a $400m deal to build two LNG carriers for BW Maritime Pte Ltd, part of Singapore's BW Group, according to a report on Reuters. HHIs is scheduled to deliver one of the two vessels in the second half of 2014 and the other in the first half of 2015. The contract included an option for two additional vessels.

SembCorp Completes Rig Job

SembCorp Industries reported that its engineering and shipyard units have jointly completed the fabrication and assembly of an offshore rig for Woodside Energy of Australia. The vessel - Northern Endeavour - is owned by Woodside Energy of Australia, Shell Development (Australia) and BHP Petroleum. The barge type steel hull vessel has an oil storage capacity of 1.4 million barrels and was scheduled to start production in October.

Demand for Ships in China to reach 31m DWT

According a new report on China’s shipbuilding industry from Research and Markets, from 2006 to 2010, the total demand for ships in China will reach 31 million dead weight tons (DWT), and the annual demand will be 6.2 million DWT on average. The report, dubbed China Shipbuilding Industry Report, 2005–2006, notes that China’s ship completions rank third over the past 10 consecutive years, and the shipbuilding capacity has increased from 3.462 million DWT in 2002 to 12 million DWT in 2005. The boom of China’s shipbuilding industry is closely linked with the development of marine industry, says the report. Although the global marine market declined in 2005, new opportunities emerged.

Orders at Korean Shipbuilders to Break $30b

Korea's three major shipbuilders are expected to draw in orders worth $30b this year, Arirang News reported. Industry reports put orders for Hyundai Heavy Industries at $13b, Samsung Heavy Industries at $10-11b, and Daewoo Shipbuilding and Marine Engineering at $10b. Samsung Heavy Industries won the most number of orders as of March with four liquid natural gas tankers, one floating production storage, one offloading vessel, and nine oil tankers. Daewoo Shipbuilding and Hyundai Heavy Industries is also reportedly looking ahead to a stellar year and expected to secure their targets set for 2007 when foreign firms begin placing orders for various projects later on in the year. Source: Arirang News

CLIA Predicts Cruise Passenger Increase in 2015

Photo courtesy of Shipcruise.org

Cruise Lines International Association (CLIA) released its annual State of the Cruise Industry Report today and is once again projecting industry growth in 2015. A record 23 million passengers are expected to sail this year, with 61 percent of North American CLIA-certified travel agents reporting an increase in 2015 travel bookings over this time last year. CLIA also revealed that member cruise lines are scheduled to debut 22 new ocean, river and specialty ships in 2015, representing a total investment of more than $4B.

Daewoo Shipbuilding Eyes Maersk Boxship Order

South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) is in talks with a unit of A.P. Moller-Maersk for a potential order to build ultra-large container ships, a DSME spokesman said on Monday. DSME is close to winning an order for some 11 container ships of 20,000 TEU (20-foot equivalent units) from Maersk for about $151 million per vessel or more, South Korean newspaper Korea Economic Daily reported last week, citing unnamed shipbuilding industry sources and foreign media. British shipbroking house Clarkson also confirmed the deal, which is worth $1.66 billion in total. The ships would be delivered in 2017, Clarkson said in a shipping industry report on Friday. The spokesman for DSME declined to confirm or deny other details, adding that nothing has been decided.

Scale of BC's LNG Terminal Plans Questioned

Lelu Island Area: Photo courtesy of Pacific Northwest

The British Columbia government has staked its future on natural gas exports, banking on a revenue windfall of at least $100-billion. Yet growing market pessimism and a sudden broadside from large gas consumers is casting fresh doubt on the planned scale of the emerging liquefied natural gas industry, reports the 'Financial Post'. The Pacific Northwest LNG project, located on Lelu Island in the Port Edward district, will liquefy and export natural gas produced in northeastern British Columbia by Progress Energy Canada.

KVH Foresees Further 2003 Growth Expectations

Satellite communications provider, KVH Industries, reported its results for the second quarter ended June 2003. The Middletown, R.I. company, which also manufactures defense-related navigation and guidance systems, reported net income for the period was $0.4 million. By comparison, KVH recorded a net loss of ($0.8) million, during the same period last year. Revenue for the period was $14.4 million, up 14 percent from $12.6 million for the second quarter ended June 30, 2002. For the six months ended June 30, 2003, revenue increased 23 percent to $27.5 million from $22.3 million for the six months ended June 30, 2002. KVH also reported a net profit of $0.6 million or $0.05 per share for the period, versus a net loss of ($2.0) million, or ($0.18) per share in the prior year.

Tsuneishi to Invest in Indonesia Shipyard Business

Photo:  Tsuneishi Holdings Corporation

Japanese shipbuilding and maritime transport company Tsuneishi Holdings will invest up to $40 million to open ship repair services in Indonesia amid increasing efforts by the government to boost the archipelago's maritime industry, reports Jakarta Globe. Yasuharu Fushimi, chairman and president at Tsuneishi Holdins, said in a statement: "We see a big potential in Indonesia's shipping industry. Tsuneishi's venture into Indonesia is estimated to create up to 1,000 jobs, says the statement.

KVH Ships 7,000th mini-VSAT Broadband System

KVH Industries, Inc. has shipped more than 7,000 mini-VSAT Broadbandsm systems, designed and manufactured by KVH to provide mobile connectivity at sea. The TracPhone V-series satellite communications antenna systems are currently in use on everything from small recreational sailboats cruising the coastline to 1,000-foot commercial freighters transiting the world’s oceans. KVH launched the mini-VSAT Broadband service in July 2007, and has seen the popularity of the service grow, coinciding with an overall trend in the maritime industry toward increased reliance on broadband connectivity. As recently as September 2016, industry analyst Northern Sky Research reported that KVH’s mini-VSAT Broadband customers account for 29 percent of the vessels using Ku-band service.

Chinese Shipbuilding Industry Added to Report

Research and Markets has announced the addition of “China Shipbuilding Industry Report 2007” to their offering. Up to Dec. 2006, the ship order all over the world was 304 million DWT, and the global transportation capacity was 960 million DWT, and it is forecasted that the CAGR will be more than 7% in the following 4 years. However, in 2006, the growth rate of the global maritime trade dropped to 3.6% from 4% in 2005, and the increase pace of future transportation capacity will exceed the demand. It is estimated that the global shipbuilding output will amount to 50 million CGT in all in 2010, up 63% compared to the present, whereas the demand in the future will be 20-30 million compensated gross tons probably, so it is unavoidable that the supply will be larger than the demand.

Korean Shipbuilders Wins UASC Container Ship Orders

Malik Al Ashtar: Image courtesy of UASC

United Arab Shipping Company (UASC) has placed orders worth over $2 billion for very large container ships with South Korea's Hyundai Heavy Industries., reports Trade Arabia. UASC has ordered five vessels of 18,000 twenty-foot equivalent units (TEU) each, and five 14,000 TEU vessels. The ships are to be delivered starting in late 2014. In addition, UASC has signed options to buy one additional 18,000 TEU vessel and six 14,000 TEU ships. The price tag of over $2 billion includes those options says Trade Arabia, citing the shipowners. Source: Trade Arabia

Fit Hong Kong Pilots Can Work Longer

The government's transport bureau has proposed that HK harbor pilots be allowed to extend their service until 68 years of age. The proposal has been made to meet the needs of the shipping industry, reports 'The Standard'. Pilots over 65 who have passed physical and mental fitness tests and eye examinations currently have their licenses downgraded, meaning they can only pilot vessels of less length. It also proposed to remove the compulsory pilotage requirement for ships of between 1,000 and 3,000 gross tonnes that are heading to or leaving container terminals. The bill will be introduced to the Legislative Council on March 20, 2013. Source: The Standard

US Inland Waterway Transportation Outlook

With consumers increasing their spending as the economy recovers, and manufacturers likewise boosting their production, demand for inland water transportation will get a boost. Additionally, rising fuel costs will lead to operators earning more money from fuel surcharges. However, the industry will experience some turbulence from rail transport providers, which are often seen as cheaper, faster and more environmentally friendly. For these reasons, industry research firm IBISWorld has added a report on the Inland Water Transportation industry to its growing industry report collection. The Inland Water Transportation industry dipped as the economy sank into recession. Over the past couple of years, consumers have decreased spending, and manufacturing industries have decreased production.

European Offshore Wind Faces Make-or-break 2020 -Report

Wind power companies such as Vestas, Siemens and Dong need Europe's installed offshore capacity to more than double and costs to be cut by a fifth within five years to compete with other fuels, an industry report said on Tuesday. The Ernst & Young report described 2020 as a make-or-break year for the offshore wind power industry, which must install more than 20 gigawatts (GW) of capacity generating electricty for about 100 euros ($107) per megawatt-hour (MWh), against 140 euros now. "Failure to meet both these criteria will not see the offshore wind industry advance into 2030 and beyond," said the report issued on the first day of Europe's largest offshore wind conference in Copenhagen.

Surplus Of Chemical Tankers To Reduce Earnings

The world's fleet of chemical tankers has risen by 25 percent over the last four years, leading to a tonnage glut and the specter of reduced revenues for shipowners, an industry report said. The report, by Ocean Shipping Consultants, said shipowners will be forced to reduce costs and increase efficiency to counter the estimated growth in the fleet to 23.5 million dwt by the end of this year. The deliveries of new tankers over the last four years has come at a bad time for the industry which is struggling to recover from the Asian economic crisis of the late 1990s which reduced trade. Chemical tankers are also facing the added challenge of adapting to changing patterns of the petrochemical trade brought about by a rise in Asian petrochemical capacity…

Surplus Of Chemical Tankers To Reduce Earnings

The world's fleet of chemical tankers has risen by 25 percent over the last four years, leading to a tonnage glut and the specter of reduced revenues for shipowners, an industry report said. The report, by Ocean Shipping Consultants, said shipowners will be forced to reduce costs and increase efficiency to counter the estimated growth in the fleet to 23.5 million dwt by the end of this year. The deliveries of new tankers over the last four years has come at a bad time for the industry which is struggling to recover from the Asian economic crisis of the late 1990s which reduced trade. Chemical tankers are also facing the added challenge of adapting to changing patterns of the petrochemical trade brought about by a rise in Asian petrochemical capacity…

China Shipbuilders Woeful, Many Face Uncertain Future

Many Chinese shipbuilders flounder in the face of a declining world shipping slowdown according to the latest industry reports. Production at Chinese yards, the world's biggest shipbuilders by tonnage, declined steeply during the first three quarters of the year, reports 'China Daily'. During the period, finished capacity dropped by 18.5 percent from last year to 41.58 million deadweight tons, and new orders decreased by 46.9 percent year-on-year to 15.41 million deadweight tons, according to the latest data recently released by the Ministry of Industry and Information Technology. In the meantime, Chinese yards' order book stood at 121 million deadweight tons by the end of September, down 19.4 percent from the amount at the end of 2011.

Evergreen May Turn Around

Pic: Evergreen Marine Corp. (Taiwan) Ltd

Evergreen Marine Corp, which has been battered by falling freight rates due to a prolonged supply glut, may swing into profit this year as market conditions improve in the global shipping industry, reports Taipei Times. The paper quoted  Capital Investment Management Corp as saying that Evergreen is expected to  post profit of NT$689 million (US$22 million) for this year, compared with an estimated loss of NT$5.65 billion for last year. Signs the container shipping industry had bottomed out gradually surfaced toward the end of last year…

Oil Price Dives

U.S. stocks of crude oil, gasoline and heating oil grew last week according to the Energy Department on Wednesday, which was more bearish than Tuesday's industry report, analysts said. The figures were evidence that threadbare crude and products stocks that have plagued the petroleum complex most of this year are finally being replenished by increasing imports, analysts said. Crude stocks rose 3.1 million barrels last week according to the Energy Information Administration (EIA), about 700,000 more than shown in industry group the American Petroleum Institute's (API) report late Tuesday. Heating oil stocks rose 800,000 barrels, according to the EIA, while API stocks showed a drop of nearly 300,000 barrels.

Philippines Positioned as Ship Repair Hub

The Philippines is ideally positioned in the Asia-Pacific region to repair ocean-going & fishing vessels according to a Japanese study. The report was contained in a study on the ship building and ship repair industry of the Philippines conducted by the Japan International Cooperation Agency and the Nomura Research Institute as part of the ongoing formulation of industry roadmaps by the [Philippine] Department of Trade and Industry reports the Manila Bulletin. Based on the study, the Philippines has the right ingredients to become a ship repair hub with strengths that include an inland sea, bay and deep seashore, abundant labor and legalized fiscal incentives.

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

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News