Tag: shipyards

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 ...

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. ...

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