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Deep-Sea Plan Fails, Leaving Korean Shipyards Struggling

The deep-ocean strategy is coming back to bite South Korean shipyards.

Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. — South Korea’s Big Three shipbuilders — ventured into offshore oil rigs starting around 2010. The goal was to avoid direct competition with China, where inexpensive labor could churn out […]

By |July 28th, 2015|Latest News, Ship Building|0 Comments

STX Dalian receiver to auction bulker, boxship amid bidder uncertainty

BANKRUPT Chinese shipyard STX Dalian officials will attend a hearing at the Dalian Intermediate People’s Court on August 6 to auction a bulk carrier and a containership under construction at the yard, according an announcement from Shanghai International Commodity Auction Company, the auction agency designated by the receiver.

The ships are a 400,000-dwt bulker Vale Ponta […]

By |July 26th, 2015|Latest News, Ship Building|0 Comments

South Korean shipbuilders forecast to report dismal Q2 earnings

South Korea’s major shipbuilders, led by Hyundai Heavy Industries Co., are forecast to have logged worse-than-expected earnings in the second quarter, largely due to the delivery of low-priced ships and a delay in the construction of loss-making offshore facilities, industry data showed Tuesday.

In particular, Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. […]

By |July 22nd, 2015|Latest News, Ship Building|0 Comments

Is it end of the line for South Asia’s ship graveyards?

In the world’s biggest ship recycling centre of Alang on India’s Arabian Sea coast, workers with blow torches cut segments of steel stripped from the rusting hull of a towering cargo ship, sold for scrap by its Japanese owner.

But in this town – located in Prime Minister Narendra Modi’s home state of Gujarat – more […]

By |July 20th, 2015|Latest News, Ship Building|0 Comments

Major Korea Shipbuilders Working Hard to Beat Recession

Samsung Heavy Industries, Hyundai Heavy Industries, and Daewoo Shipbuilding & Marine Engineering are striving for cost reduction and business optimization based on new technology while competing for offshore plants in the global market.

On July 7, Samsung Heavy Industries received a 337 billion won (US$297 million) order for a semi-submersible floating production system (semi-FPS) from an […]

By |July 11th, 2015|Latest News, Ship Building|0 Comments

Bahri declares five VLCC options at Hyundai Samho

SINGAPORE: The National Shipping Company of Saudi Arabia (Bahri) has declared options for five VLCC newbuildings at Hyundai Samho Heavy Industries.

Bahri ordered five VLCCs plus five options at the Korea yard in May and latest move sees the Saudi Arabian shipowner brings it firm orders to ten 300,000 dwt tankers.

The additional VLCCs are due to […]

By |July 5th, 2015|Latest News, Ship Building|0 Comments

India: Local shipbuilders told to pick 13% stake in GAIL LNG carriers

Local shipbuilders, including state-run Cochin Shipyard Ltd, L&T Shipbuilding Ltd, a unit of Larsen and Toubro Ltd (L&T), and Pipavav Defence and Offshore Engineering Ltd, have been asked to take equity stakes in each of the three new carriers they are hoping to build for use by GAIL (India) Ltd to ship liquefied natural gas […]

By |July 4th, 2015|Latest News, Local News, Ship Building, Shipping News|0 Comments

NLNG Eyes $1.5 bln Debut Shipyard in Nigeria

Nigeria Liquefied Natural Gas Company (NLNG) is sponsoring the construction of the first major ship yard in Africa’s biggest economy at the cost of $1.5 billion, in its attempt to turn the country into a hub for maritime operations on the continent.

Nigeria is the world’s eighth biggest crude producer and Africa’s top oil exporter but […]

By |June 22nd, 2015|Latest News, Ship Building|0 Comments

Nigeria: Stakeholders Call for Establishment of Mega Dockyard

Shipping industry stakeholders have emphasised the urgent need for the establishment of a mega dockyard that will cater for Nigeria and other West African sub-region in a growing shipping trade.

Noting that Nigeria as a major oil and maritime nation has remained a big market for bigger ocean going vessels, the industry experts said such shipyard […]

By |June 15th, 2015|Latest News, Ship Building|0 Comments

The Shipping Tribune Launches Mobile App

The Shipping Tribune is pleased to announce that Mobile App for Android users has been launched. The Shipping Tribune app for Android delivers the latest global Shipping & maritime news to keep you ahead of the curve. Access the most credible source for shipping news and information on the move with the Shipping Tribune App.

The […]