Friday, April 22, 2011

Wartsila to deliver new ship design

Wartsila, the marine industry's leading solutions provider, has signed a contract with Nam Cheong Dockyard of Miri, Malaysia, which will build a Wärtsilä Ship Design (WSD) multi-purpose platform supply vessel (MPSV).






This WSD 800 MPSV is the first in a new series of Wärtsilä designs being marketed as a total solution, including all relevant systems as well as the ship design.



The total solution concept of the WSD 800 MPSV design includes four gensets. These produce more than 6 MW of electric power, which is in turn distributed via Wärtsilä's patented Low Loss Concept for diesel electric propulsion, to two Wärtsilä main azimuth steerable thrusters aft, and two tunnel thrusters forward, and to provide all necessary electric power onboard.



The WSD 800 MPSV has an overall length of 81.6 meters, a beam of 18.4 meters, and a summer draught of 6.8 meters.



The vessel, which is scheduled to be launched and commissioned by the autumn 2012, will be owned by Bumi Armada, the largest owner and operator of offshore support vessels in Malaysia. It will serve the region's offshore oil industry, and its design includes a Remote Operated Vehicle mezzanine deck, crane, and a large 800 square metre deck area.





Published : April 22, 2011



Source: Asiasis


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Brittany eyes LNG-powered ferries













Brittany Ferries is working with STX Europe to develop designs for LNG and electric dual-fuel ferries.




The move will enable the French operator to comply with Marpol Annex VI requirements for reduced sulphur emissions, which come into force in 2015.



Some Scandinavian ferry concerns are already using smaller LNG-powered ships on coastal routes, while in South America, Buquebus will shortly take delivery of a gas turbine ferry for service on the River Plate.



STX Europe has a track record in building gas-powered ships, completing three gas-propelled gas carriers for GDF Suez.



But the Saint Nazaire-based yard is hoping to take these developments forward by coming up with a ferry that will cut CO2 emissions by 15%-20% and NOx emissions by 90% compared to existing designs, and produce no sulphur oxides whatsoever.





Published : April 22, 2011



Source: Asiasis
 
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Shipbuilders share growth with partners



Some large enterprises of Korea's shipbuilding and machinery industries including Hyundai Heavy Industries and Doosan Heavy Industries & Construction made a 'fair trade and joint development agreement' with their subcontractors on 21st.




The signing ceremony was attended by five shipyards - Hyundai, Daewoo, Hyundai Samho, Hanjin and Hyundai Mipo - and two machinery companies including Doosan and Doosan Infracore to make cooperation with 5,845 partners.



Those large enterprises are to support the subcontractors with around KRW 200bn ($185m) and to reflect the results of joint growth in evaluating purchasing officers.



Besides, the two parties agreed on joint technology development to advance into foreign markets in full swing.





Published : April 22, 2011



Source: Asiasis

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March orders fall to $4.5bn

World's combined newbuilding orders during March came to 61 ships of 3.9m DWT, and Korean yards occupied 33 orders, in total, out of them while Chinese yards won 11 ships.



According to the monthly report released by Clarkson Research Services earlier this week, the total value of newbuilding orders placed worldwide during last month stood at $4.5bn, decreasing by 63% compared with the previous month.





By ship types, boxship newbuild orders hit $2bn, FPSOs for $800m, drillships for $615m, and the combined newbuilding order value of bulkers and tankers totaled only $500m.



When it comes to the number of ships by ship types, boxships saw 20 new orders, bulkers for 17, tankers for 'zero', FPSOs for three and drillships for one.



Meanwhile, world's combined newbuilding orders during the first quarter came to 227 ships of 14.3m DWT, 6.3m CGT and 11.7m GT worth $24.7bn.



Korean yards won 90 ships of 7.4m DWT, 3.3m CGT and 6.7m GT worth $12.8bn, taking the world number one position in new orders while Chinese rivals won 88 ships of 6m DWT, 2m CGT and 3.8m GT worth $3.5bn, placing themselves in the world second place.



When it comes to nations, which placed newbuilding orders during the first quarter, US and Brazilian shipowners invested $4.6bn respectively in newbuilding orders in Q1, occupying the world first place together.



As many as 13 new drillship orders were placed by US and Brazilian owners out of the total of 15 in the period.



As drillship newbuilding orders are increasing due to high oil prices, energy development powerhouses, USA and Brazil, are emerging as a big investor. With this, each shipyard in the world is busy making measures to develop those US and Brazilian markets.



Besides, Norwegians invested $2.5bn, Danes for $2bn, Japanese for $1.7bn, Chinese for $1bn and Greeks for $700m in newbuilding orders during the first quarter.



In particular, Chinese and Greek shipowners, who spent $13.3bn and $12bn respectively placing new orders for a full year 2010, showed a big decrease in value during the term amid a general slowdown in new bulker and tanker orders.





Published : April 22, 2011



Source: Asiasis
 
 
 
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STX, "Not now for new orders"












Seoul-based Mirae Asset Securities cast an analysis on Korea's STX Offshore & Shipbuilding on 21st.




According to the analysis, STX is not rolling out strategical new order activities on purpose.



"Despite its stance of the world fourth largest shipyard, the shipbuilder is making the least number of new orders (among large shipyards). This seems because the yard intentionally avoids taking new orders, expecting an increase in newbuilding prices in the near future," it said.



That is, if STX declines newbuilding prices by 3% to 4%, it can win billions of dollars of new orders, but the yard is strategically controlling its workload to maximize profitability.



Lee Seok-jae, analyst of the securities company, said, "The best condition in the shipbuilding industry is a full dock of competitors. When rivals' dock is full, there will be no competition in new order intake. Therefore, STX can secure competitiveness."



"STX is the world fourth largest shipyard among 500 yards worldwide and the only yard to be able to build all kinds of ships such as LNG carriers, drillships, cruiseships, ice-breaking ships and offshore supply vessels," he added.





Published : April 22, 2011



Source: Asiasis

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"Little effect of steel price hike"



Nam Sang-tae, President of Korea's Daewoo Shipbuilding & Marine Engineering and Chairman of the Korea Shipbuilders' Association, stated in a signing ceremony for a 'fair trade and joint development agreement' held on 21st that "The steel prices recently increased would not have a considerable influence on our results"




"Nevertheless, it would be nicer that the prices take time to increase even though Posco must have its own reasons for the price advance. The size of the price advance is also bigger than expected," he added.



The big rise in steel plates makes it uncertain that if Daewoo meets its target of KRW 10trn ($9.26bn) in sales and KRW 1trn in operating profit this year for the second consecutive year.



Regarding new order target, Mr. Nam remarked, "We are going on track."



The yard, which has set up this year's new order target to $11bn, has won three drillships and 10 ultra-large boxships, totaling $3.4bn in new order value so far this year.





Published : April 22, 2011



Source: Asiasis

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China coal imports offer hope











Increasing Chinese thermal coal imports are promising to lend support to dry-cargo rates which are in the midst of a 17 day losing streak, Commodore Research says.




Stockpiles at Qinhuangdao, China’s largest coal port, have slipped 29% since the start of March but shipments to China are showing signs of an uptick.



Jeffrey Landsberg, an analyst at Commodore, counts 10 thermal coal fixtures in the past week, more than double the average for the past month.



“Chinese coal import demand is expected to remain firm during the next few weeks, which could lend a bit of support to capesize and panamax freight rates,” he wrote in a report.



The Baltic Dry Index has fallen every day since late March, the worst run seen since January when it declined for 22 successive days.





Published : April 22, 2011



Source: Asiasis
 

 
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Hamworthy selected for gas-powered ferries











Hamworthy has signed a contract to install liquefied natural gas storage tanks and fuel systems on board four gas-powered ferries to be constructed at the Remontowa Shipyard in Gdansk, Poland for delivery in the second half of 2012.




The ships, which will be delivered to ship owner Torghatten Nord AS, will serve two routes across Vestfjorden in Lofoten in the north of Norway. Both routes are known for their harsh operating conditions.



Hamworthy Oil & Gas Systems will deliver the fuel gas systems as sub-supplier to Rolls-Royce, which has been awarded the contract for complete propulsion systems. Each ship, being built in Hanjung Shipyard, China, will each feature 150m3 capacity storage tanks designed by Hamworthy.



Hamworthy will deliver the complete storage and handling systems, including bunkering stations on board to handle refilling of the ships' 150m3 LNG tanks in less than one hour and evaporation and heating of the LNG from approximately -145°C to +30°C.



Hamworthy's LNG storage and handling system (LNG Fuel Gas System) is typically delivered as a complete skid prepared for installation in vessels. All hook up works and interconnecting piping to the vessel systems (e.g. utilities as electricity, heating water, purging, gas to engine and LNG) are performed at yards.





Published : April 22, 2011



Source: Asiasis
 
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Steel consumption to grow




Global steel usage is expected to increase by 5.9% in 2011 to 1.35bnt.




The projected increase follows a 13.2% growth in steel usage last year, according to the World Steel Association (WSA).



In 2012, world steel demand is forecast to grow by a further 6% to reach a new record of 1.44bnt, the WSA said.



The forecast suggest that even by 2012, steel use in the developed world will still be 14% below 2007 levels, while in the emerging and developing economies, it will be 38% above.



In 2012, the WSA says emerging and developing economies will account for 72% of world steel demand in contrast to 61% in 2007.



However, the WSA’s figures were drawn up before last month’s natural disaster in Japan, which is a major consumer.



“The forecast has not been revised yet due to the difficulty of assessing the impact of the earthquake and tsunami,” the WSA said.





Published : April 22, 2011



Source: Asiasis
 
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Thursday, April 21, 2011

Yards spooked by Posco price hike


Korea's largest steel producer, Posco, has decided to increase the domestic steel plate price by 16.8% from KRW 950,000 ($871) to KRW 1.11m per ton.

Regarding the price advance, many express their concerns about the deterioration of shipbuilding industry's profitability.

The price advance will be applied to the main steel products including hot rolled and cold rolled steel and steel plates to be ordered from 22nd of the month. All of those products will be provided at increased prices by KRW 160,000 per ton.

Taking the trend, other steel makers like Hyundai-Steel and Dongkuk Steel Mill, seem to increase the prices to the same level as Posco's, which would cause domino effects to raise the cost and prices of ships, automobiles, electronic equipment and construction, etc.

In particular, hot rolled steel will increase from KRW 900,000 to KRW 1.06m per ton, cold rolled steel from KRW 1.02m to KRW 1.18m and steel plates from KRW 950,000 to KRW 1.11m.

Regarding the price advance of steel products, the shipbuilding, automobile, electronic and construction industries, which highly demand for steel products, have entered into preparing for expected aftereffects, such as a rise in cost.

Especially, the shipbuilding industry is prospected to be hit by the price advance most for profitability since it expected the size of price increase to the low KRW 100,000s.

One shipbuilding player remarked yesterday, "A 10% increase in the steel plate price causes an 1% to 1.5% drop in the profitability of shipyards. In addition, shipyards cannot reflect the price advance in newbuilding prices due to the slowdown of the shipping market."

He also expressed his unsatisfaction, "Most of the steel plates provided at increased prices will be used for low-priced ships contracted after the global financial crisis. So the shipbuilding industry had asked Posco to control the price advance several times, but none of what we have required was reflected."

Another insider from the shipbuilding industry said, "The latest price advance of Posco does not have any difference from its original plan in terms of the size of price increase except for the timing of announcement, which is a little delayed. As a result, the shipbuilding industry faces troubles in profitability thanks to Posco's disregarding of customers' request."




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Published : April 20, 2011

Source:
Asiasis

Wednesday, April 20, 2011

Nor-Shipping without Chinese state firms


China is believed to have pulled its participation, which includes its state-owned shipyards and owners, from the biennial exhibition Nor-Shipping and social gathering in response to the Nobel peace prize being awarded to imprisoned dissident Liu Xiaobo late last year.




China was angered when Mr Liu was awarded the peace prize in absentia, making threats to sever commercial ties with Norway.



Nor-Shipping managing director Tollef Schiander confirmed that the Chinese government had told him back in December about its retaliation to the peace prize.



He said the Chinese response has however had little impact on the exhibition as the resultant vacant space was easily filled by other exhibitors keen to come to the exhibition.





Published : April 20, 2011



Source: Asiasis
 
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Samsung keeps largest orderbook



Korea's Samsung Heavy Industries remained in the world first place for order backlog as of the 1st of April after it retook the number one position earlier last month, beating Hyundai Heavy Industries.




According to Clarkson Research Services, Samsung placed itself in the world number one position with 199 ships of 8.537m CGT on orderbook as of the 1st of March, getting ahead of Hyundai with 217 ships of 8.041m CGT, including its Gunsan shipyard, and Daewoo Shipbuilding & Marine Engineering with 176 ships of 7.482m CGT.



Samsung, which had kept its number one position since the August of last year, yielded the first position to Hyundai in terms of orderbook as of the 1st of February this year due to its slowdown of new orders in the beginning of the year.



However, the yard has accelerated its new order march since last month and has finally succeeded in retaking the first place in orderbook.



The yard has scored 22 ships worth $5.9bn in total so far this year including six drillships, nine boxships, six LNG carriers and one offshore supply vessel, etc.



Meanwhile, even though Hyundai has yielded the world first place to Samsung, the yard has won 34 ships worth $9.2bn so far this year including its affiliate Hyundai Samho Heavy Industries, continuing its matchless new order activities.



Daewoo, which has won the world first order for 10 boxships of 18,000 TEU from AP Moller-Maersk, has received newbuilding orders for three drillships, joining the keen new order competition with Samsung and Hyudnai.



Daewoo has scored $3.4bn in new orders so far this year.





Published : April 20, 2011



source: Asiasis
 
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LNG ‘Golden Time‘ to come again


Seoul-based Kium Securities casts a positive outlook on Korea's large shipyards such as Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering that LNG boom will come again from the second half of this year as there has been increasing demands for LNG since the nuclear power plant shock in Japan.




Choi Won-kyeong, analyst of the securities company, prospects, "The results of the first quarter of Korea's big five shipyards will be likely to meet market expectations, and, based on that, there will be no huge change in stock prices. And the decrease in results the market prospects will start to appear from the second half of the year."



"With steel plate prices expected to increase, combined global orderbook rebounded in March in 30 months. Like this, there is a high possibility for major indexes to rebound. The current cycle of commercial ships has come to the darkest dawn just before morning comes."



"Japan's demands for LNG have steadily been increasing since the nuclear power plant explosion with China and India emerging as a new demander for LNG. As gas field development projects near northern Australian area are getting active thanks to the low price merit of LNG compared with oil prices, LNG newbuilding orders would also increase due to expanding long-term LNG supply contracts."



"In addition, offshore plants, which have been used mainly for oil development projects, seem to be diversified to gas projects, so LNG boom would come back again from as early as the second half of the year," he adds.





Published : April 20, 2011



Source: Asiasis

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