Tag: shipbuilding

Decline in new orders for bulk carriers, tankers to hurt medium-sized shipbuilders The shipbuilding sector will be hit hard this year as financially squeezed European ship owners are expected to cut back or cancel orders amid the eurozone debt crisis.Shipbuilding market research firm Clarksons said this year's orders would shrink by 9.7 percent compared to last year due to concerns that the European financial woes will spread and other global uncertainties.The impact will vary, however, between large shipbuilders that make offshore plants or high value-added ships, and medium-sized companies that manufacture mostly merchant vessels.New orders for bulk carriers and tankers, given out by financially troubled shipping companies, are likely to continue downhill, whereas orders for liquefied natural gas carriers or deep-sea oil drilling ships won't fall unless international oil prices plummet. The Ministry of Knowledge Economy said there will be constant orders for offshore plants and LNG ships citing major gas development projects under way in Australia and Russia and crude oil exploration in Nigeria.Since Korea's large shipbuilders have strength in producing offshore plants, they will be less affected by the global economic slowdown.Park Moo-hyun, an analyst at E-Trade Securities, said the impact of the declining demand for merchant ships ...

More than 50 staff members in design Universal Shipbuilding Corporation has unveiled the design of its next generation large bulk carrier, with claims it can reduce Green House Gases (GHG) by 25%.More than 50 staff members in design; research and development; and commercial sections have spent over a year working on the project for the G-Series 'green ship' with developments being made mainly through improving hull performance and machinery plant efficiency.The design also aims to reduce GHG by 50% within 10 years and an example of the series, a 200,000 DWT type bulk carrier, is said to save over 10 tonnes of fuel oil consumption per day.The G-Series will be available for delivery from the Japanese shipbuilders in 2014 and the design will also be expanded for other types of vessels including tankers.Chief Executive Shinjiro Mishima said: "We are continuously keeping our activities of research and development of every single technology in order to attain the next rigid target of 50% GHG reduction by 2020. This G-Series with 25% GHG reduction is only just halfway to our long-term target."Source: Ship Management International

Aims to fetch $300m by 2012 A couple of leading shipbuilders of the country will deliver 30 small ocean-going ships to fetch $300 million from their clients mostly in Europe by the end of the next calendar year, shipbuilders said on Tuesday.To meet the delivery deadline the shipyards are busy building the ocean going and ice-class vessels for their clients also in Africa and Asia.The Western Marine Shipyard Limited (WMSL), one of the leading shipbuilder, will deliver 20 ocean-going ships worth $200 million to firms in the Holland, Denmark and Singapore. The deals also included two passengers vessels for Karachi Port Trust.Two ships, each with 5,200 DWT (deadweight tonnage), a passenger ferry, two passengers floating vessel have already been delivered to Germany, Finland and Pakistan."We are building the rest seven and a couple of ships with a DWT between 4,100 and 4,800 are complete and will be floated soon," Shakawat Hossain, managing director of Western Marine Shipyard Ltd, told the FE.WMSL, based in at Kolagaon in Chittagong, on the bank of the river Karnaphuli near the country's main port, some 300 km (188 miles) southeast of the capital Dhaka, is likely to complete its delivery by the end of the ...

Orders have plunged prompting shipbuilders to slash payrolls While companies around the world are bouncing back from the global recession, shipyards are just now starting to see its effects. Orders have plunged, prompting shipbuilders to slash payrolls and shift toward building drilling rigs and other offshore products for the energy industry.The reason for the recession's lagging effect on shipbuilding is peculiar to the industry. A decline in world trade and shipping three years ago cut demand for ships. But because big tankers and container vessels take three to four years to build, shipyards kept busy filling orders received before the financial crisis.Orders for ships sank in 2009 and recovery has been slow, although analysts expect orders to increase later this year. The downturn is affecting shipyards worldwide. China's shipbuilding association last month said some of the country's yards would suspend production after completing existing orders.But the impact is especially deep in South Korea, home to six of the world's 10 largest shipbuilders by sales. Ships are the country's biggest export, accounting for 15% of total exports at an estimated $25 billion through May, according to the Korean government. The situation at the world's largest shipbuilder is typical. At the end ...

Shipbuilding crisis has already lasted over two and half years Just following the shipping crisis which started in the second half of 2008, the shipbuilding crisis has already lasted over two and half years, reaching the stage that all traditional small and medium-sized (SM) Korean shipbuilders who have played an important part of Korean shipbuilding industries for the past 20 years may fall to extinction in future, some argue.Mainly late comers in Korean shipbuilding industry including C& Heavy Industries, Jinse Shipbuilding, Orient Shipbuilding, TKS Heavy Industries and others had collapsed up to the last year without giving any big sense of crisis to other remaining SM shipbuilders here.But the worries of Korean shipbuilders are gradually mounting with the latest downfalls of several old SM Korean shipbuilding hands as follows. Dae Sun Shipbuilding (DSS) with long tradition and experiences of shipbuilding, located at Yeongdo-gu, Busan, has been delisted by KOSDAQ last March this year with its capital impaired totally. Sekwang Heavy Industries (SHI), a SM Korean shipbuilder specialized in building chemical carriers, filed for the court receivership last April followed by Samho Shipbuilding (SS) that went bankrupt failing to honor its payment this May.Besides the above-said Korea shipbuilders, there are several ...

Three top Korean shipbuilders are expected to surpass $48 billion in orders this yea Korea's three largest shipbuilders have seen their new orders soar, almost reaching the level of the last industry boom in 2007.According to data released by the industry on Wednesday.Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries have won a combined US$21.7 billion in orders so far this year. That's nearly four times the $5.2 billion won by the Chinese shipbuilding industry during the period.According to a forecast by Daishin Securities, the three Korean companies are expected to surpass $48 billion in orders this year, comparable to the $57.5 billion of 2007.Despite being distant to a full recovery of the global shipbuilding industry, Korean shipbuilders' strong performance can be attributed to orders for large-sized container ships, drillships and LNG vessels, where Korean companies have taken the technological lead compared to China. Korean companies have won 17 out of 24 orders for drillships worldwide so far this year.Source: English Chosun