China Marine Giant COSCOCS Strategizes Business
China COSCO Shipping Corp Ltd (COSCOCS), a new company formed by the restructuring of China's top two shipping firms, was officially established on Thursday (February 18). The Chairman Xu Lirong said his company,now the world's largest bulk vessel and oil tanker operator by fleet size, is planning to deploy more resources to six new businesses. According to a report in China Daily, the shipping major will focus on logistics, industrial equipment manufacturing, financial and shipping services, investment, and operations linked to the country's "Internet Plus" development program. "New businesses such as multimodal transportation, warehouse network development…
Honghua Wins Order for 200 LNG Vessels
Honghua Group Ltd. informs it has signed a shipbuilding deal with LNG Power Shipping Ltd. for the construction of 200 eco-friendly inland river ships to be powered by liquefied natural gas (LNG). The contract, worth approximately RMB760 million ($122.4 million USD), will see Honghua build and sell 200 LNG-powered inland vessels, including 700-ton ships, 950-ton ships and 1,350-ton ships. The builder expects to deliver all of the vessels by the end of September 2016. Honghua Group chairman Zhang Mi commented on the deal, saying, “The LNG powered ships that [Honghua Group] will build are a new type of environment-friendly transportation vessel, directly responding to the concept of environment protection and energy saving.
Yangzijiang Shipbuilding Eyes Mega Container Ships
Reuters - Yangzijiang Shipbuilding Holdings Ltd, a top Chinese shipbuilder, plans to build more mega container ships for shipowners eager to cut operating costs. Yangzijiang is China's third-largest listed shipbuilder by market capitalisation and has boasted profit margins that dwarf those of domestic and overseas peers. Yangzijiang is ready to hand over its first mega container ship in March, which can move around 10,000 standard twenty-foot (TEU) containers, and is planning to build vessels that can handle up to 18,000 boxes.
China Shipyard, Yangzijiang, Report Profit Dip in Q4 2013
Reuters – Yangzijiang Shipbuilding Holding Ltd said its fourth-quarter net profit dropped 8 percent on the year, as income from shipbuilding decreased. Privately-controlled Yangzijiang is China's third-largest listed shipbuilder by market capitalisation. It reported a fourth-quarter net profit of 746.3 million yuan ($121.85 million), and a full-year net profit of 3.1 billion yuan, slightly higher than Thomson Reuters SmartEstimate of 3.0 billion yuan. The pre-tax margin for the year stood at 34.5 percent, up from 32.9 percent a year earlier, dwarfing an industry median of 10 percent, according to Thomson Reuters data. The company's shipbuilding business posted a 43 percent gross margin, due to high-margin contracts secured before the global financial crisis.
Korea's DSME & China's Rilin Forge Strategic Agreement
Rilin Group & Daewoo Shiipbuilding & Marine Engineering (DSME) to develop Dandong, China, shipbuilding base. Under the agreement, the two groups will jointly invest in and develop the Dandong Shipbuilding Industry Co in order to establish a shipbuilding industrial base in Dandong incorporating the fields of shipbuilding & repair, steel parts manufacturing and offshore engineering equipment. Headquartered in Dandong, Liaoning province, Rilin Group is a large-scale private enterprise with a business scope including infrastructure construction, port operation and resource exploitation. It took over Dandong Port in 2005, and has since made Dandong Port the only private controlled major port in China.
China Conference on Offshore Engineering Coming Up
The conference aims at exploring the forefront of subsea exploration technology, and promoting trade exchanges and cooperation between business partners. All participants will have the opportunity to expand business relations and get a transparent interpretation of future market trends. The first day will discuss the development trend of oil and gas industry in the South China Sea, as well as offshore platform structure strategy; the second day will introduce subsea production technology, shipyard applications and future trends. In 2011, global offshore engineering equipment orders amounted to 69 billion RMB, an increase of 130% on the previous year.
Ship Naming Ceremony is held for Sinopacific's First Fabricated Ship
Ningbo, April 29, 2011 —— On the morning of 29 April, Sinopacific Shipbuilding Group, China’s leading private shipbuilding enterprise held the ship naming ceremony at its Zhejiang Shipyard for GPA696, the global first fabricated model of Offshore Support Vessel(OSV) built for France’s Bourbon Company. Afterwards, a sea trial event was also held for another global first fabricated OSV, the SX130. Attending this event were Ningbo Mayor Liu Qi, Sinopacific Shipbuilding Group Chairman and CEO Simon Liang…
China Maps out Goal for Shipbuilding
According to Xinhua, the latest official blueprint on the China's shipbuilding industry urges the country to crank up efforts over the next five to ten years in order to shoulder its way into the elite club of independent mainstream shipbuilders. Key development targets enshrined in the National Medium-and Long-Term Plan of the Shipbuilding Industry include: ships to reach international levels of technological sophistication; annual output to hit 17 million deadweight tons (dwt); annual production capacity of medium- and low-speed ship diesel engines to reach 4.5million kw and 1,100 units respectively in order to meet domestic demand; more than 60 percent of ship equipment to be produced locally.
