Teh News

Lung Teh (LT) Shipbuilding Company formally received construction permits for the site at Suao Port, according to Taiwanese government sources.The company will start construction in December and should finish all new facilities on its Suao Port campus in March 2020. LT Shipbuilding operations at Suao Port are expected to create at least 200 new job openings.Taiwan International Ports Corporation (TIPC)’s active recruitment of companies to establish business operations at Suao Port, a branch port of TIPC’s Port of Keelung subsidiary, has begun bearing fruit, said official sources.LT Shipbuilding signed their lease agreement with the Port of Keelung at the end of 2016 to lease land for its shipbuilding operations.

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The Taiwan Navy plans to put its first locally designed stealth missile corvette and a new locally manufactured supply vessel into service late next month, says a press statement. There will be a ceremony to formally put the corvette Tuo Jiang and supply vessel Panshih into service is scheduled to take place in late March at the navy’s Zuoying base in Kaohsiung. Training on the 502-ton Tuo Jiang began after the corvette was officially delivered to the Navy by local shipbuilder Lung Teh Shipbuilding Co. at a ceremony held Dec. 23 at a commercial harbor in Suao, eastern Taiwan. The twin-hulled Hsun-hai class corvette is equipped with several weapons, including the locally developed Hsiung Feng II and Hsiung Feng III anti-ship missiles, a 76 mm gun and Mark 46 torpedoes, the Navy said.

A relatively steady week in the newbuilding market in terms of volume of ordering remarks Clarkson Hellas in their latest S&P Weekly Bulletin, most for LNG carriers. In Dry, Sungdong Shipbuilding have signed contracts with Teh-Hu (Hong Kong) for one firm plus one option 180,000 dwt Capesize, with delivery in the third and fourth quarters of 2016. Clients of Victoria Steamship are understood by Clarkson Hellas to to have ordered three firm plus three option 64,000 dwt Ultramax at Nantong Hongqiang. This follows their previous order for the same quantity of Ultramax at Jiangsu Haitong last month, with these latest orders for delivery from late 2015 onwards. Just one order in tankers, with clients of Polembros Shipping contracting two firm plus two option 159,000 dwt Suezmax at HHI.

Taiwanese boat builder Lung Teh Shipbuilding Co., Ltd. (LTS) has recently won the contract to deliver a series of patrol boats to an unspecified government in South East Asia. The first boat in the series will be delivered early 2015. The boats have 19 m long aluminum hulls equipped with twin MJP DRB 400 waterjets coupled to MAN 1,650 hp engines and will reach speed of about 50 knots. They also have beaching capability. Since the vessels are expected to have a very high number of annual working hours, the customer specified equipment with an emphasis on low life cycle cost.

Evergreen Line's latest three L-type vessels, numbers 12, 13 and 14 in the series have been named 'Ever Legend', 'Ever Learned' and 'Ever Legion'. The christening ceremony was officiated by S.S. Lin, the Evergreen Group's First Vice Group Chairman, at the Samsung Heavy Industries shipyard in Korea.The official rope-cuttings of the new 8,452-TEU vessels were performed by Ms. Chung, Teh-Mei, (Chief Executive Director of Chang Yung-Fa Foundation), Ms. Liou, Meng-Fen (Group Executive Officer, Secretariat, of Evergreen Group) and Ms.

A poor operating performance and expensive valuation prompted analysts to downgrade Asia's largest cruise operator Star Cruises Group. The company reported it posted a loss last year following its acquisition of Norwegian cruise firm NCL Holdings. "We have downgraded it into a sell," said Teh Chi-Chang, analyst of SG Securities in Kuala Lumpur. Amelia Mehta of ING Barings also cut her rating from a hold to a sell, putting a price target of 36 cents while Teh cut his target from 78 cents to 46 cents. The group, part of Malaysian conglomerate Genting Bhd, recorded a net loss of $26 million after including interest expense of $84.2 million for NCL's acquisition. Star Cruises said its results were not comparable to 1999 as they included a 10-month contribution from NCL.

Premier Frank Hsieh said August 1 that if all goes well, the outlying island county of Penghu may be opened for direct point-to-point shipping services across the Taiwan Strait on an experimental basis, starting in September at the earliest, Asian Pulse reported. Hsieh made the remarks after attending the inaugural ceremony for Penghu National University - the county's first university. Since the government opened the two frontline islands of Kinmen and Matsu for direct point-to-point shipping service with the southeastern Chinese province of Fujian, some Penghu political figures have been urging the government to open Penghu for similar direct services with a selected Chinese port.

three capesize newbuilding vessels for a total purchase price of $188 million. 2005 - is obtained from Teh Hu (Hong Kong). dwt newbuilding that will be delivered in the third quarter of 2006. the Golden Ocean group. will be delivered in November 2006 and January 2007. concluded with a Japanese and Korean charterer on favourable terms. finalisation of the contract documentation. modern and rewardingly-valued fleet. fleet will have been built at SWS.