Korean Shipbuilders Book Orders for First Quarter
According to sources, South Korean shipbuilders racked up large overseas orders in the first quarter, keeping them on course to exceed yearly targets, industry sources said Sunday. Hyundai Heavy Industries clinched orders worth $2.3 billion in the January-March period, compared with its full-year target of $7.4 billion. Its two affiliates _ Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries _ won a combined $2.75 billion worth of orders in the first quarter. The three shipbuilders aim to garner orders worth $12.5 billion for all of 2006. Daewoo Shipbuilding & Marine Engineering, the world's No. 2 shipbuilder, posted orders worth $4.5 billion in the first quarter, or 45 percent of its yearly target of $10 billion.
Many 1Q Orders for South Korean Shipbuilders
South Korean shipbuilders racked up large overseas orders in the first quarter, keeping them on course to far exceed yearly targets, Korea Times reported. Hyundai Heavy Industries, the world's largest shipbuilder, clinched orders worth $2.3 billion in the January-March period, compared with its full-year target of $7.4 billion. Its two affiliates - Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries - won a combined $2.75 billion worth of orders in the first quarter. The three shipbuilders aim to garner orders worth $12.5 billion for all of 2006. Daewoo Shipbuilding & Marine Engineering, posted orders worth $4.5 billion in the first quarter, or 45 percent of its yearly target of $10 billion. Samsung Heavy Industries Co.
Korea Returns to First Place in Shipbuilding
South Korean shipbuilding industry has surpassed China in three months and reached the top of global monthly shipbuilding orders. A report in Yonhap said that South Korean shipyards recaptured the No. 1 position in new orders worldwide in August amid a plunge in overall numbers. The local shipbuilders clinched new orders worth a combined 130,000 compensated gross tons (CGTs) last month to build nine vessels, the report said quoting data compiled by global research firm Clarkson Research Institute. Chinese rivals came next with 110,000 CGTs, or seven ships.
ABG Shipyard gets $254m Order
India’s largest private shipbuilding company ABG Shipyard Limited has received orders worth over $254.1m to build bulk and anchor vessels for shipping companies based in Egypt and Cyprus. The company has received an order worth around from Cyprus La-mnalco Ltd. for delivery of production support vessel. Another Cyprus-based Precious Shipping Public Company has placed a Rs 726 crore order to build five deadweight tonne bulk carriers. ABG also secured an order worth Rs 181 crores for two anchor handling vessels from Egypt based Maridive and Oil Services SAE. (Source: The Asian Age)
Daewoo Shipbuilding Wins Orders Worth $600m
Daewoo Shipbuilding & Marine Engineering Co., has won three orders worth a combined $600m to build six ships for three companies in Russia, Africa and Europe. Daewoo Shipbuilding & Marine Engineering will construct two crude oil carriers for Sovcomflot Group, Russia's largest shipping company, two tankers for a company in Liberia and two car carriers for Leif Hoegh & Co., a Norwegian shipper. The ships will be delivered to the companies by January 2011. Source: Business in Asia Today
Kuwait Orders Chemical Tankers from HHI
Hyundai Mipo Dockyard gets order for four chemical tankers. Hyundai Mipo Dockyard said it had received an order worth $250 million to build four chemical tankers for Kuwait despite the world's shipbuilding industry downturn. Under the contract signed Tuesday in Kuwait, Hyundai Mipo -- a subsidiary of Hyundai Heavy Industries -- will deliver the four tankers to the state-run Kuwait Oil Tanker Company by August 2014. Hyundai Mipo said it had now received orders for a total of eight vessels worth more than $400 million in total this year. It aims to secure orders worth $3.2 billion this year, up 80 percent from 2011.
STX Shipbuilding Reports Q2 Results
South Korea's STX Shipbuilding Co. said that its second-quarter earnings increased sharply on rising orders to build ships such as oil tankers and container ships and gains from equity ties with its affiliates. Its net profit reached $62m in the April-June period. The shipbuilder also said its profit was boosted by gains from equity ties with its affiliates such as STX Pan Ocean Co. STX shipbuilding has clinched orders worth $7.2 billion so far this year. The shipyard has raised its sales target for this year to $10 billion from $5.5 billion earlier, helped by increased orders for high-priced ships. Last year, it won orders worth $4 billion. Source: Yonhap
Imtech Wins Defense Contract
Internatio-Mueller NV said its technology unit Imtech had won an order worth $35 million from British shipbuilder Swan Hunter. Imtech will provide technical systems for the first two of four amphibious transport ships which Swan Hunter, privately owned by Dutch millionaire Jaap Kroese, will build for the British Ministry of Defense. Negotiations are still taking place about similar orders for the two other vessels, Internatio said. The design of the ships is partly based on an amphibious transport vessel of the Dutch navy. The first of the four vessels is due to be completed by Swan Hunter at the end of 2003, and the second will follow in 2004. Internatio said this order would provide a basis for further and accelerated expansion of Imtech in Britain.
Korea Shipyard to Build Icebreaking LNG Carrier
Daewoo Shipbuilding & Marine Engineering (DSME) has won the first battle in the war among the shipbuilders to obtain orders for vessels to participate in the Russian Arctic 'Yamal Project' by getting the world’s first order for an icebreaking LNG carrier, reports BusinessKorea. The South Korean shipbuilder informed BusinessKorea that it received the order worth US$367.4 million from Russia’s state-run shipper Sovcomflot, and will deliver the vessel by the end of June 2016. The 170…
Samsung Wins FPSO Order
Samsung has been granted orders worth a combined $250 million from Nigeria and Australia. The company said it will construct a floating production and storage offloading (FPSO) vessel valued at $90 million for the Nigerian arm of Shell Petroleum Co., as well as an FPSO for the Australian unit of Phillips Petroleum worth $160 million. The new orders allow Samsung to reach its full-year sales target of $2.2 billion. The company sold $2.04 billion worth of vessels in 1998.
South Korean Shipbuilders Profit from Mideast Orders
South Korean shipbuilders and construction companies are enjoying benefits from profitable orders from overseas, particularly Mideast countries that have huge currency reserves thanks to strong crude oil prices. The country’s three main shipbuilders have clinched contracts worth $18b in the first quarter, up more than 400 percent from a year earlier. They have already attained over 40 percent of their yearly targets. Hyundai Heavy Industries Co., the world’s largest shipbuilder, and its two affiliates won orders worth $5.1b in the January-March period, compared with their full-year target of $12.5b. Hyundai Heavy alone received $2.3b worth of orders in the first quarter, approaching its yearly target of $7.4b.
Samsung Heavy to Build 4 Rigs
South Korea's Samsung Heavy Industries Co, said it has secured new orders worth a total of $2.41b. The company said it won a $1.15b dollar contract to build two semi-submersible floating drilling rigs by September 2010 for a Russian client. Separately, clients in Africa and in Americas ordered two oil drillships worth 1.26 billion dollars which will be delivered by May 2011, it said. Source: AFX
Samsung Heavy $630M Orders for Tankers, Offshore Platform
Samsung Heavy Industries Co., South Korea's third-largest shipbuilder, said it has won orders worth a combined $630m for five oil tankers and an offshore. Under the deal with a Norwegian customer, Samsung Heavy will deliver the oil tankers by 2013. Another deal with a U.S. customer calls for the shipbuilder to deliver the offshore facility by 2013. With the deals, Samsung Heavy has won deals valued at $6.1b in 2010. For the year, Samsung Heavy aims at winning $8b worth of orders.
Daewoo Shipbuilding Wins Orders Worth $280m
Daewoo Shipbuilding and Marine Engineering said its shipyard in Romania has secured $280m worth of new orders to build four container ships for two German clients. Daewoo Mangalia Heavy Industries will build two Panamax carriers for Gebab Holding and another two for Conti Holding by October 2009 under the deals, its Seoul-based parent company said. The latest contracts would boost business performance in the Romanian shipyard in Mangalia, acquired by Daewoo Shipbuilding in 1997 and turned around into profitability in 2000, the parent firm said. Source: Forbes
Dolphin Offshore Gets $16m in Contracts
Dolphin Offshore Enterprises India Ltd said it has received two orders worth $16m for its diving support vessels. One of the contracts worth $10m is to be executed within 3 months while the other from Punj Lloyd Ltd has a 2-month duration. Source: Reuters
Korean Shipbuilders May Fail to Achieve Targets
South Korea's big three shipbuilders - Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. - may miss this year's order targets as a global economic slump and lower oil prices sharply reduce shipbuilding demand, reports Yonhap. The country's big three racked up a combined US$26.1 billion worth of orders through November, a little more than half of this year's order target of $47 billion, according to industry sources. By company, Hyundai Heavy clinched orders worth $11.6 billion in the first 11 months of the year.
South Korea is Number One
According to a report from the Kyodo news service, the combined tonnage for ship orders received by South Korean shipbuilders was higher than that of Japanese shipbuilders in 2002. The Shipbuilders' Association of Japan reported that Japanese shipbuilders received orders worth a combined 5.9 million tons in the year, down 25.9% from 2001. South Korean shipbuilders reportedly received orders for a combined 7.59 million tons, up 18.4%, according to data from the Korea Shipbuilding Industry Association. In 2001, Japan was the top shipbuilder based on tonnage.
Orders at Korea's 3 Big Shipyards to Break $30B
Korea's three major shipbuilders are expected to draw in orders worth $30 billion this year, according to a report on http://english.chosun.com. Reports put orders for Hyundai Heavy Industries at $13 billion, Samsung Heavy Industries at $10-11 billion, and Daewoo Shipbuilding and Marine Engineering at $10 billion. 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.
Pipavav Shipyard Wins $1.06b Order
Pipavav Shipyard has won an order worth $1.06bn to build 26 Panamax bulk carriers, making it India's largest shipbuilding order to date. The orders are from Golden Ocean Group, Norway; SETAF, France; and AVGI Maritime, Greece. Source: Money Control
Cargotec's Wins €37 Million Order for 45 Electric Winches
Cargotec's MacGregor has won an order worth approximately €37 million for 45 electric winches from Hyundai Samho Heavy Industries Co. Ltd, in South Korea. The order will be booked in the fourth quarter 2013 order intake and the equipment is scheduled for delivery between the second and fourth quarter of 2014. The winches will be installed on Hyundai Heavy Industries' 10,000-metric-ton new heavy lift vessel, which will be one of the world's largest heavy lift ships designed to support shipbuilding activities and offshore lifting operations in international waters. cargotec.com
Flir Systems Gets $6.7M Navy Order
Flir Systems Inc., a maker of thermal imaging systems, on Tuesday said it received an order worth $6.7 million from the Navy. The order is the first under a $35 million infrared imaging systems contract with the Navy. Future orders depend on available defense funding, the company said.
Korea Shipbuilder Wins Order for 8 Very Large Gas Carriers
Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) has won two orders worth a total of US$640-million to build eight very large gas carriers (VLGCs) for two unidentified Asia-based firms reports Reuters. The South Korean shipbuilder said in a statement both firms had ordered four gas carriers each, all expected delivery to be completed by the second half of 2016. In related news, DSME recently issued the following listing for investors showing its 2014 orders and backlog. Souces: DSME, Reuters
Daewoo Shipbuilding Wins $633M Order
South Korea's Daewoo Shipbuilding & Marine Engineering Co. has won an order worth $633m to build a semi-submersible drilling rig by August 2010, reports said. The third-largest shipbuilder by order backlog has received $12.5b in order this year, including the rig. Source: AP