Monday, June 21, 2021

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Japanese Ship Orders Rise 8.6 Percent

March increase is first year-over-year gain in four months Orders at Japanese shipyards rose for the first time in four months in March on a year-on-year basis, increasing 8.6 percent to 1.1 million gross tons, according to the Japan Ship Exporters' Association.The March growth followed year-over-year drops of 2.8 percent in December, 56.7 percent in January and 23.1 percent in February.Japanese shipbuilders received orders for 21 export ships - 16 bulk carriers, four tankers and one general cargo vessel - in March. The 21 ships total about 454,000 compensated gross tons.For all of fiscal 2011, which ended on March 31, Japanese export ship orders tumbled 34.9 percent from the previous fiscal year to about 8.1 million gross tons. Japanese shipbuilders received orders for 198 export ships, totaling about 3.9 million compensated gross tons, for the year.Japan is one of the world's top shipbuilding nations along with South Korea and China. But Japanese shipbuilders are struggling as demand for new vessels among ship owners is flagging amid a slowdown in the global economy due largely to the deep European debt crisis.Japanese shipbuilders also face increasingly tough competition with their South Korean and Chinese rivals amid the strong value of the yen, ...

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COSCO Shipyard Group Secures Contract for Seven Bulk Carriers

From a European Company COSCO (Guangdong) Shipyard Co., Ltd (a subsidiary of the Company's 51% owned subsidiary, COSCO Shipyard Group Co., Ltd), has secured a contract from a European company to build a bulk carrier of 35,000 dwt.The vessel is scheduled for delivery in the first quarter of 2013. Separately, COSCO (Zhoushan) Shipyard Co., Ltd (which is also a subsidiary of COSCO Shipyard Group Co., Ltd.) has secured two contracts and four option contracts from another European company to build a total of six units of 64,000 dwt bulk carriers with eco-friendly and fuel-efficient designs.The two contracts will become effective following approval from the shipbuilder's board of directors.Delivery of the two vessels is expected to be in the first quarter and the second quarter of 2014 respectively. Upon the approval of the two contracts, the shipowner has the option to declare two of the option contracts to become effective within 12 months and the other two option contracts to become effective within 24 months. Delivery of the vessels under the option contracts is expected to take place within 18 months after the option contracts become effective.The Company will make announcements as and when the shipbuilding contracts and/or the option contracts ...

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US Maritime Administration funds small shipyards

DOT Federal Funds Available for Small U.S. Shipyards The U.S. Maritime Administration announced that $9.98 million in federal funding is now available to help enhance the efficiency and competitiveness of qualified small U.S. shipyard. The grants are available for capital and related improvements projects that foster efficiency, and competitive operations; quality ship construction, repair and reconfiguration; and employee training projects. Grants are limited to no more than 75 percent of the estimated improvement costs. Application packages must be received by 5 p.m. on January 17, 2012.Source: MARAD

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India: Shipyards Plan to Expand Their Capacities by Building up Two International Size Shipyards

Maritime States have been requested to identify suitable location The National Maritime Development Programme has envisaged setting up of two International size shipyards. Maritime States have been requested by the Ministry of Shipping to identify suitable location for setting up of international size shipyards, one each on the East Coast and West Coast of India respectively. Private investors have already gone ahead with plans to create new international size shipyards. The Government owned Cochin Shipyard Limited is also planning to expand its capacity by setting up of a ship repair facility at an alternate location as well as by having an additional dry dock facility.This information was given by the Minister of Shipping, Shri G.K Vasan in a written reply in the Lok Sabha yesterday.Source: Shipbuilding Tribune

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Brazil shipyard says local-made rigs more costly

An extremely tight labor market is becoming a threat Brazil's leading shipyard Sete Brasil said government expectations about national content requirements for building the rigs, platforms and ships needed to developits massive offshore oil reserves were unrealistic.Company Chief Executive Joao Carlos Ferraz said requirements that 60 percent of the rigs his company is building for state oil company Petrobras be produced locally were out of line with international industry norms.He said drilling rigs built in Brazil were 15 percent more expensive than in rival shipbuilder South Korea. The statements underscored Brazil's challenge of educating and training its workforce to meet the needs of its booming economy.An extremely tight labor market is becoming a threat to the central bank's effort to rein in inflation, which has surpassed its upper target range of 6.5 percent annually.The government of former President Luiz Inacio Lula da Silva launched the program to revive the country's moribund shipbuilding industry. Petrobras, which holds a 10 percent stake in Sete Brasil, created the company with a group of banks and pension funds.During a forum on national content in Rio de Janeiro, Sete Brasil's Ferraz asked the government to reduce the requirements for companies operating in the shipbuilding industry ...

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Aker Philadelphia Shipyard Signs LOI

Construction of Two Aframax Tankers Aker Philadelphia Shipyard ASA announced today that its sole operating subsidiary, Aker Philadelphia Shipyard, Inc., has signed a Letter of Intent with SeaRiver Maritime, Inc., Exxon Mobil Corporation's U.S. marine affiliate, for the construction of two aframax tankers. The 820 foot long, 115,000 deadweight ton tankers are intended to be used to transport Alaskan North Slope crude oil from Prince William Sound to the U.S. West Coast.Project planning work is currently underway in conjunction with APSI's technical partner, Samsung Heavy Industries. Construction of the first vessel is expected to begin by mid-2012 and both vessels are scheduled for delivery in 2014. The vessels will be equipped with double hull protection, the latest navigation and communications equipment, and energy efficient engines.It is expected that the parties will enter into definitive agreements based on the Letter of Intent during Q3 2011. The execution of those agreements is subject to the satisfaction of certain conditions precedent, including board approvals and the completion of definitive documentation agreeable to all parties.Aker Philadelphia Shipyard is currently constructing two 46,000 deadweight product tankers for delivery in late 2012 and early 2013, respectively. Aker Philadelphia Shipyard is a leading U.S. commercial shipyard constructing ...

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Shipyards remain in slowdown mode

A decline in world trade and shipping three years ago cut demand for ships 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. ...

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Japan to strengthen shipbuilding industry

Intends to heighten the global competitive edge of Japan's shipyards The Japanese government is working with industry players to establish some basic guidelines in a move to strengthen the country's shipbuilding industry.The ministry of land, infrastructure, transport and tourism (MLIT) intends to heighten the global competitive edge of Japan's shipyards through industry restructuring and business revamp.The broad outline of the guidelines include corporate alliance and business consolidation, entering new market and new sector, and strengthening the maritime cluster.Shipyards that develop their business according to those directors would receive tax incentives or other regulatory benefits.Meanwhile, the Japan Ship Exporters' Association announced Tuesday that Japanese shipbuilders signed 18 newbuilding orders totalling 550,000 gross tonnes in May, down 41% year-on-year in gross tonnes terms.Source: Seatrade-Asia

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