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Jiangsu Rongsheng Heavy Industries Group News

04 Mar 2010

Wärtsilä for Eight Chinese Bulk Carriers

Photo courtesy Wärtsilä

Wärtsilä's two-stroke engines have been chosen for eight Chinese bulk carriers. The order was placed by Beijing-based Minsheng Financial Leasing Co. Ltd. Wärtsilä's Chinese licensee, Hefei Rong'An Power Machinery Co Ltd (Rong'An), a member of the Jiangsu Rongsheng Heavy Industries Group Co Ltd (RSHI), will build the engines. The Wärtsilä RT-flex58TB two-stroke engines will be installed in a series of eight 76,000 dwt Panamax bulk carriers. The first vessel is scheduled to be launched in March 2011.

15 Jul 2009

Largest New Shipping Order

China's largest private shipbuilder has signed this year’s biggest deal in terms of dead weight tons, according to the company. Jiangsu Rongsheng Heavy Industries Group signed a contract Friday with Oman Shipping to build four iron ore carriers, each with a dead weight of 400,000 tons. The deal is the second largest for the company after a contract for 12 iron ore carriers was inked with Brazilian mining giant Vale last August.

30 Oct 2008

Wärtsilä Powers Largest Dry Bulk Carriers

The RT-flex common-rail technology brings benefits to ship owners in terms of great flexibility in engine setting for lower fuel consumption, lower minimum running speeds, smokeless operation at all running speeds, and better control of other exhaust emissions. The RT-flex common-rail technology will also play a key role in meeting the need for tighter emissions control under the forthcoming IMO regulations. The ore carriers will be built by Rongsheng Shipbuilding & Heavy Industries of China. Each vessel will have a 7-cylinder Wärtsilä RT-flex82T low-speed engine with a contracted maximum continuous power of 29,400 kW at 76 rpm. The first of the ships is due for delivery in early 2011 and the twelve ships are expected to be completed in 2012.

24 Sep 2008

China Shipbuilders Ready to Foray into Offshore Engineering

Jiangsu Rongsheng Heavy Industries Group Co Ltd began building CNOOC 201, a deepwater pipe laying and lifting vessel for China National Offshore Oil Corporation in Rugao Port of Nantong City in Jiangsu Province on September 16th 2008. CNOOC Engineering plans to input CNY 15 billion(USD2bn) in construction of a series of deepwater equipment including deep sea drilling vessels, ready to focus on deepwater prospecting, since most of the country's newly discovered oilfields are deep undersea. According to South Korean companies' experience, the gross margin of offshore engineering reaches up to 30%, while that of China's domestic shipbuilding industry has only hit 18% to 19% since the beginning of 2008.

21 Mar 2007

Frontline Exercises Options for Tankers from China's Jiangsu Group

Frontline Ltd said it has exercised options for an additional two Suezmax tankers, to be built by the Jiangsu Rongsheng Heavy Industries Group in China. These orders, Frontline said, relate to options secured last summer as part of a separate vessel order. The latest tankers, 156,000 deadweight tonne Suezmax newbuilds, will be delivered in April and June 2010, the firm said. Following this deal, Frontline will have six Suezmax tankers and four VLCC newbuilds on order. Source: AFX

15 Aug 2006

Frontline Sells Share in Gen. Maritime, Orders Ships

Frontline has sold its shares in General Maritime Corporation, and has ordered four new Suezmax tankers for an undisclosed sum, Reuters reported The 3.86m shares were sold at $40 per share to World Wide Shipping, and Frontline will record a gain of about $9.7 million in the third quarter from the sale, it said in a statement. It said the proceeds from the sale would be allocated to repayment of debt, equity financing of the Rongsheng investments as well as increased dividend capacity. Frontline also said it had declared four newbuilding Suezmaxes orders from Jiangsu Rongsheng Heavy Industries Group Co. Ltd. in China. source: Reuters

27 Jul 2006

Frontline Orders Suezmax Tankers

Frontline ordered two new Suezmax tankers from China's Jiangsu Rongsheng Heavy Industries Group Co. Ltd. for an undisclosed sum, China Daily reported. The vessels will be delivered in November 2008 and February 2009. Frontline also secured options for a further four similar Suezmax tankers. The new vessels were priced more than $15m lower than the indicated price level for 2006 delivered tonnage. (Source: China Daily)

25 Jul 2006

Frontline Purchases Suezmax Newbuildings

Frontline Ltd. has entered into a contract with Jiangsu Rongsheng Heavy Industries Group Co. Ltd. in China for delivery of two 153 dwt Suezmax newbuildings. The vessels will be delivered in November 2008 and February 2009. Frontline has also secured options for further 2 + 2 similar Suezmax newbuildings. The contract price for the newbuildings is in excess of $15m lower than indicated price level for 2006 delivered tonnage. The ordering of the tonnage has been done as a combination of a wish to renew the fleet, and opportunistic investment approach with great flexibility. The ordering confirms Frontlines position as a leading operator of quality Suezmax tonnage in addition to its position as the world's largest operator and owner of VLCCs.