Friday, March 11, 2011

STX signs 20 57K Open-Hatch BCs




STX signs 20 57K Open-Hatch BCs

Korea's STX Offshore & Shipbuilding and its Chinese affiliate STX Dalian Shipbuilding Complex have inked 10 57000-dwt Open Hatch General Cargo Carriers each with STX Pan Ocean, worth $912m in total for the 20 newbuildings. 

The vessels are 199 meters in length, 32.26 meters in breadth and 19.30 meters in height. 

STX O&S' Jinhae Shipyard and STX Dalian will each build ten ships for delivery in 2012, 2013 and 2014. 

The high-value pulp carriers, which will be built by STX for the first time, are said to be 20-30% more expensive than same-size traditional bulk carriers 

Korea's STX Pan Ocean had penned a $5bn transport deal with the Brazilian private company Fibria Celulose for shipping of pulp from Brazil to the US, Europe and the Far East in October. 

The freight contract runs for 25 years since 2012, and includes the transport of five million tons of cargo annually. 

As part of the deal, STX Pan Ocean has now ordered 20 specially designed open hatch bulkers of 57000-dwt at its affiliate shipyards. 

 
 

 
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Hyundai inks 1013,100TEUs



Hyundai inks 1013,100TEUs

Korea's Hyundai Heavy Industries (HHI) signed a contract with Germany's largest container liner Hapag-Lloyd to build 10 ultra-large containerships of 13,100 TEU at a price of $1.45bn. 

Considering HHI is actively conducting selective new order sales activities to secure profitability, the shipbuilding industry seems to regard HHI's new order contract as a flare of an earnest recovery of the containership market situation.   

The containership market is taking an upward trend in a fast pace as demand is rising thanks to an increase in trading volume following the global economic recovery. 

Also, the eco-friendly 'slow steaming policy' of shipping companies helps alleviate some oversupply, leading to a fast recovery of the boxship market. 

Another favorable factor to heighten expectations for additional future orders is shipowners are propelling to get boxships larger in consideration of increasing traffic and economic feasibility. 

Six of the 10 13,100 TEUs newly ordered were contracted to change the size of already signed vessels. Hapag ordered six 8,600-TEU ships in 2008, but requested to change the size of all of them to 13,100 TEU-class through today's contract. 

One official from HHI said, "HHI reserves abundant experiences and exclusive technology in the mega boxship field, and we will still focus on new order sales based on a technological superiority". 

The newly contracted boxships will be delivered to Hapag between July 2012 and November 2013 one by one. 

Meantime, HHI (including Hyundai Samho Heavy Industries) has won new orders for 80 vessels totaling $10.6bn so far this year in shipbuilding and offshore plant sectors, and reserves 324 vessels worth $52.7bn on its orderbook.


 
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40% jump in new orders: 2011




40% jump in new orders: 2011

Many prospect that shipbuilding businesses will see an upward trend in orderbook next year with the quality of the orderbook standing up. 
Choi Kwang-sik, a researcher at LIG Investment & Securities said, "Considering the circle of containerships for next year, the newbuilding order price for commercial vessels will increase by 60%." 
"Next year, six Korea listed shipbuilders will occupy over 35% of market share in the commercial vessel market, and their total of new orders will also jump by 40% compared to last year due to an increase in newbuilding orders for offshore units," he added.   

He emphasized that the stock prices of the shipbuilding business sector will likely increase by 30%-70% next year. 

He said, "The stock prices of shipbuilding businesses have increased by 65%-100% compared to the beginning of the year by escaping the bottom, but this is not a pre-reflection because the newbuidling orders for this year have increased more than two times year-on-year." 

"The improvement of the market situation will proliferate next year, so it is the time to buy the stocks to enjoy the upward cycle of containerships and offshore units," he explained.


 
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Finland approves subsidy



 Finland approves subsidy

Finland’s Viking Lines has won approval to go ahead with the construction of a Euro 240m ($315m) environmentally friendly cruise ferry at STX Finland’s shipyard in Turku. All subjects on the deal first agreed this October have now been dropped following the Finnish government’s decision to grant a Euro 28m subsidy for the construction of the 57,000-gt Ferry. 

The ship, which will trade between Turku and Stockholm following delivery in 2013, will be the first of its kind using LNG as its main fuel. On top of the environmental benefits it will also provide some much needed work for STX’s Turku facility. Viking Lines estimates it will provide some 2600 man-years employment in the region. Viking also holds an option for an additional vessel. 

The cruise ferry will have capacity for 2,800 passengers and 200 crew. It will house its LNG fuel tanks on the decks located at the stern of the vessel. It also has 1,275 lane-metres for trucks and a separate car deck with approximately 500 lane-metres for passenger cars.



 
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Korea to get First Int’l Cruise Ships

 Korea to get First Int’l Cruise Ships

The Ministry of Land, Transport and Maritime Affairs said Dec. 13 that it has approved the country’s first operation of international cruise ships, in a bid to strengthen the country’s foothold in the Northeast Asian cruise market.
A license was issued to Harmony Cruise, an affiliate of Polaris Shipping Co., according to the ministry.
Harmony Cruise has initiated talks with overseas cruise operators to secure smaller cruise ships and hopes to launch service as early as September, the company said.
The company said it plans to operate several international routes connecting Korean ports - Incheon, Busan and Jeju - with China, Japan and Russia. Special routes that stop by Yeosu, 455 kilometers (283 miles) southeast of Seoul, are likely to be scheduled in line with the 2012 Yeosu EXPO, the company added.
The cruise ships are to accommodate up to 500 passengers for four- to six-day trips and will be equipped with recreation and sports facilities, it said.



 
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Techcross first lays BWTS on VLCC



Techcross's explosion-proof BWTS 
Korea's Techcross has become the first ballast water treatment system (BWTS) manufacturer in the shipbuilding industry to supply BWTS called ECS (Electro-Cleen™ System, ECS), for a VLCC. 

The ECS was supplied and laid on the Hyundai Heavy Industries-built 317,000-dwt VLCC in August 2010 and the ship will be delivered at the end of January of this year to a Middle East shipowner. 

Techcross says that it testifies to their highly developed technology by succeeding in laying BWTS on a VLCC for the first time in the industry among many other companies worldwide developing BWTS and engaging in the market. 

The company says the ECS can be laid on all types of ships and it has already laid an explosion-proof type of BWTS on ships successfully for the first time in the world.
 




 
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Grand China buys 95% stake in yard



Titan Petrochemicals Group has on Thursday approved a 95% disposal of its equity stake held by two of its subsidiaries in Titan Quanzhou Shipyard in China. 

Grand China Logistics, a member of Hainan Air Group, will acquire the 95% disposed equity stake, while Titan TQSL will hold the remaining 5%. 

Titan TQSL and Titan Fujian currently hold 78.4% and 21.6% stake, respectively, in Titan Quanzhou Shipyard. 

The consideration for the 95% disposal of the shipyard is approximately 1.87bn yuan ($283.8m). 

The directors of Hong Kong-listed Titan are hoping the disposal will enable the group to “significantly reduce its debt level” and strengthen its liquidity position to fund development of its existing core business.
 



 
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Japan sets to new ‘Shipbuilding Policy‘

Japan sets to new 'Shipbuilding Policy'

Japan's Ministry of Land, Infrastructure, Transport and Tourism decided to undertake the work of 'New Shipbuilding Policy Examination Assembly' in a full-scale.

This assembly is for discussing new policies to strengthen the long-term international competitiveness for the shipbuilding industry with shipbuilding executives as a main figure.

The results made from the assembly will be adopted as concrete policies, not as guidelines or proposals. 

The examination assembly had its first meeting on December 7th with Ayao Tsuge, Dr. President of Shibaura Institute of Technology (the previous technical director of Mitsubishi Heavy Industries) as a leader.   

The 21 assembly members included people from the shipbuilding academia and executives from Japanese shipbuilders -Mitsubishi Heavy Industries, Imabari Shipbuilding, Universal Shipbuilding, Namura Shipbuilding and Mitsui Engineering & Shipbuilding and from big three Japanese shipping companies, financial institutions and trading houses. 

The two main agenda in the first meeting were short-term measures to overcome the recession in newbuilding demands for 2012 to 2015 and long-term measures to secure an international competitiveness at the recovery period of demands after 2015. 

The details of the agenda are expected to include supporting for research development and expanding the range of the target countries for the ship export financing to developed nations led by Japan Bank for International Cooperation (JBIC). 

The Japanese Government is planning to organize the reports from the examination assembly at least by June next year to count tax revision and new budget into 2012's fiscal year.



 
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Shipbuilding fight goes on

Shipbuilding fight goes on

In November, global new orders reached 123 units of 6.85dwt. China, Japan and Korea continued their bloody fighting in global newbuilding market. 

Chinese shipowners strongly support shipbuilding market. China Shipping Development ordered 1.79m dwt new ships in November, occupying 26% of the total. Compatriot Jiangnan Changxing won four Capesize bulk carriers. Guangzhou Shipyard International Company gained eight product oil tankers. Longxue Shipbuilding secured got two-unit 82000 dwt bulk carriers. DSIC won two-unit 82000 dwt bulk carriers and two Panamax ships. 

Japanese shipping lines also started fleets expansion. In November Oshima Shipbuilding took two-unit 105000 dwt orders from Kawasaki Kisen Kaisha Limited. NYK ordered three-unit 95000 dwt bulk carriers from Imabari Shipbuilding. MOL also ordered two 300000dwt VLOCs from Universal Shipbuilding. 

Korean shipyards were rushing for boxship orders. SPP won four-unit 3500TEU boxhips. STX gained three 6500TEU boxships. Sundong got two-unit 3600TEU boxships. Daesun secured three boxship orders as well. 

In November, the price of new ships was kept at the same level of October. But the price of boxships was surged obviously. The price of 3500TEU boxships gaind by SPP reached $53m per unit, rising by $3m against the yard’s similar size order last time.




 
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STX develops optical communications welding


STX develops optical communications welding

STX Offshore & Shipbuilding developed the first optical communications welding system in the world.

Welding is one of core processes in shipbuilding.

In the traditional analog welding system, 10 welding cables had to be mobilized, but by introducing digital welding only two cables are needed.

Maximum output capacity of 600A and 55V can be maintained for up to four hours. 

Also a welder can use a wire feeder as a remote controller to change current, voltage, gas volume, etc. 

The new welding system can also be applied to aluminum. 

An official from STX said, "Through the development of the new welding equipment, both productivity and quality are expected to be enhanced. Furthermore, cost reduction effect would reach at least KRW 11.5bn ($10m)." 

"Currently we are applying for a patent for the optical communications digital welding system technology," he added.



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