Thursday, June 16, 2011

Daewoo boosts wind turbine orders


Canada-based DeWind, which is subsidiary of Daewoo Shipbuilding & Marine Engineering and takes the lead in DSME's wind turbine business, won wind turbine orders, signing contracts to supply 55 wind turbines so far this year.




In April, Dewind won an order for 40 wind turbines from wind farm in Novus, Oklahoma and an order for five wind turbines from WEIcan, Canadian research institute for wind power, and an order for ten wind turbines from wind farm in Frisco, Texas.



Thus, DSME has posted a total of 65 track records, including ten wind turbines provided to Little Pringle in Texas, US and supplies more wind turbines than any other wind turbine supplier in Korea.



China takes the lead in the world wind turbine market. Boosted by the good performances in track record in the local market, it became the strongest player in the world wind turbine market.



South Korean shipbuilders such as Hyundai Heavy Industries, Doosan Heavy Industries & Construction and DSME rush to the world wind turbine market. But due to the lack of track record, they have little market presence in the world.



In order to supply wind turbine facilities with the world wind turbine market, data demonstrating stability by successfully operating the wind turbine facilities for at least two years are required. Daewoo opened up new possibility for Korean wind turbine suppliers by becoming the first one to advance into the American wind turbine market, with a focus on the Canadian market.





Published : May 16, 2011



Source: Asiasis

 
 
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Daewoo tipped to ink $14bn



Daewoo Shipbuilding & Marine Engineering is being forecast to win $14bn orders this year as new orders speed up in the latter part of the year.




Daiwa Securities expects a strong order momentum for Daewoo in the third quarter.



The South Korean shipbuilder has won new orders for 16 ships and offshore plants worth $4.35bn so far this year.



It is also set to win two 9,200TEU containership orders from Singapore's NOL.



NOL's existing order (penned last year) at Daewoo for ten 8,400-teu boxships will now become ten 9,200-teu ships with a more advanced design and technology, NOL revealed yesterday.



Daewoo is aiming to win $11bn orders in 2011 but Daiwa hiked Daewoo's order intake forecast from $12bn to $14bn.



The securities firm said Daewoo is soon to win additional ten, 18,000TEU newbuildings from Denmark's AP Moller-Maersk.



It tips South Korean shipbuilders, including Daewoo, would receive more new orders in the fourth quarter.





Published : June 16, 2011



Source: Asiasis
 
 
 
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STX bullish on orders & results




STX Offshore & Shipbuilding is expected to beef up new orders and achieve better business results.




Korea Investment & Securities analyst Park Min said on 15th, "We have conservative perspective on shipbuilding stocks but it's positive for STX."



"The shipbuilder is to show strong order momentum down the road this year. Although it secured relatively small amount of new orders in the first half of the year, this, in turn, would help strengthen its new order competitive edge going forward."



"STX is now in negotiations for ultra-large containerships, LNG carriers, offshore plants, and its subsidiary STX Europe is in talks to build large cruiseships."



"STX is expected to be the only shipbuilder in South Korea to post higher operating margin this year than in 2010," Park added.





Published : June 15, 2011





Source: Asiasis
 
 
 
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Hyundai & Daewoo win NOL orders


Neptune Orient Lines has inked preliminary contracts for 12 newbuilding containerships at South Korean shipyards.




Singapore-listed NOL's recent order includes its largest ever vessels of 14,000-teu. The liner company has also upgraded a previous order at Daewoo for 10 ships.



All 22 units will be delivered in 2013 and 2014 at a total cost of $1.54bn, NOL said in a release.



NOL penned a letter of intent for 10, 14,000-teu vessels at Hyundai Samho Heavy Industries.



Another LOI has been inked for two 9,200-teu ships at Daewoo Shipbuilding & Marine Engineering.



The announcement comes as something of a surprise as market whispers had suggested NOL would move for 10, 13,000-teu ships and two 10,000-teu vessels.



A 2010 order at Daewoo for ten 8,400-teu boxships will now become ten 9,200-teu ships with a more advanced design and technology, NOL said.





Published : June 16, 2011



Source: Asiasis
 
 
 
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Hyundai-Vinashin launches 56K BC




On June 13th at No. 1 Dock, Hyundai-Vinashin Shipyard (HVS), a joint venture between Hyundai Group in South Korea (70%), represented by Hyundai Mipo Dockyard (HMD), and Vietnam Shipbuilding Industry Corporation (VINASHIN) of Vietnam (30%), held the launching ceremony for Hull No. S057, the 1st vessel of the order of series two 56,000DWT Class Bulk Carriers from Blue Tide Shipping No.1 S.A., Panama.



The representatives of the Owner (Hanjin Ship Management Co., Ltd.), KR Class and Shipyard attended the ceremony.



After launching, the vessel was moved to No.2 quay for completion of remaining works such as applying final coat of cargo holds, finishing remaining works on deck, testing and inspecting all systems of the ship, etc. before the vessel's sea trial.



As schedule, sea trial of the vessel will be carried out at the end of July 2011 and the vessel will be delivered to owner at the end of August 2011.





Published : June 14, 2011





Source: Asiasis
 
 
 
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DSME Trenton Opens

"We are very pleased with the results of our expansion into the North American market, and our strong partnership with the province," said DSTN CEO Nam-Ki Lee. "The progress we see here today underlines that we are well on our way to creating a renewable energy cluster in Nova Scotia."




Nova Scotia Premier Darrell Dexter and Mr. Nam officially started the company's production line at the Trenton, Nova Scotia, facility.



DSTN's more than 100 workers are currently fulfilling orders for 30 towers.



"Congratulations to everyone who has played a part in creating a world class manufacturing facility in DSTN," said Premier Dexter. "This investment is already creating the good jobs the province needs while showcasing Nova Scotia as a leader in renewable energy."



The province secured a 49 per cent stake in the operation through investments made in 2010 to establish DSTN as a joint venture between the province and DSME. An additional $10 million was invested by the Government of Canada.



DSME is a diversified company and one of the world's largest shipbuilders. The South Korean-based company was established in 1973 and today is a first-class builder of commercial and naval ships and offshore projects. In 2009, DSME acquired DeWind Inc., an American wind turbine engineering company, and announced plans to expand into the wind-power sector and build a production plant in North America.





Published : June 15, 2011



Source: Asiasis

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POSCO opens Dalian steel plate factory


South Korea's largest steel maker POSCO completed its first overseas steel plate processing center 'POSCO-CDPPC' in Changxing Dao, Dalian, Liaoning Province, China, on June 14th.




With this POSCO has established a stable sales base in Bohai Bay area which is a core region of China's shipbuilding industry.



The completion ceremony was attended by POSCO chairman Jung Joon-yang, STX chairman Kang Duk-soo and Dalian municipal government officials among others.



POSCO-CDPPC is capable of processing 400,000 tons of steel products annually.



It will process steel plates and hot-rolled products, coming from POSCO's South Korean factories, and provide them to Chinese customers.



Bohai Bay is home to DSIC and many ship equipment suppliers as well as South Korea's STX Dalian offshore & shipbuilding complex, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries' ship block factories.



POSCO plans to connect POSCO-CDPPC with Tianjin's POSCO-CTPC, Shenyang's POSCO-CLPC and Yantai's POSCO-CYPC to expand market share in Chinese shipbuilding industry.


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Published : June 14, 2011



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Tuesday, June 14, 2011

Newbuilding orders dwindle

Shipowners’ appetite for newbuildings seems to have abated, while older vessels are finding their way to scrap yards in Asia on a faster pace. This means that in the future the current tonnage oversupply problems could be alleviated.






According to the latest weekly report from shipbroker Golden Destiny, “in the newbuilding market, the week closed with limited fresh activity posting a 72% week-on-week decline as only 20 units reported to have been placed, after last week’s record activity of 72 new transactions.



After almost three weeks, no contracting activity has been witnessed again in the bulk carrier segment that seems comforting for the industry, taken into consideration the ongoing scheduled deliveries till the end of 2012.



The total invested capital estimated to be around $4.4bn, 4 newbuilding transactions reported with no revealed contract price, with offshore segment grasping 75% of the investment value.



The floating storage booked by Shell for delivery within 2016 is the world’s largest floating gas production and storage vessel and one of the highest capital intensive investments. Thus, in terms of invested capital, the most overweight sector appears to be the offshore, while containers have won the largest share (45%) of this week’s newbuilding activity.



At a similar week in 2010, the newbuilding activity was up by 55% than current levels with 31 new contracts to had been reported worldwide and bulk carriers winning 80% share of the total volume of reported contracts” said the report.





Published : June 14, 2011



Source: Asiasis
 
 
 
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Daewoo gets "Aggressive"


Daewoo Shipbuilding & Marine Engineering is to be commissioned to manage Daehan Shipbuilding for the next three years since next month and this would likely give Deawoo wings in its aggressive management.


Daehan's main creditor bank Korea Development Bank plans to normalize the shipbuilder's management through Daewoo's intervention.


Daewoo is to embark on the consignment management in July after a board meeting.


South Korean companies like STX Group and SM Group had tried to acquire Daehan but negotiations broke down with KDB.


KDB has now decided to normalize Daehan by Daewoo's management and intends to sell Daehan for 'proper price'.


Being commissioned to manage Daehan, Daewoo can secure new business lands and will also get the priority to acquire Daehan after about three years from now.


Industry players are paying attention to the move whether the business model would help regional economy and smaller yards to rehabilitate.


Meanwhile, Daewoo is also consigned to manage Oman Drydock Company and has set up JV Zvezda Shipyard in Russia and another JV shipyard in Angola.


It is also proceeding with a JV shipbuilding company with Indonesian government and is expected to expand global network centering in Okpo Shipyard in South Korea.


Published : June 13, 2011


Source: Asiasis
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Hyundai-Vinashin launches 56K BC




On June 13th at No. 1 Dock, Hyundai-Vinashin Shipyard (HVS), a joint venture between Hyundai Group in South Korea (70%), represented by Hyundai Mipo Dockyard (HMD), and Vietnam Shipbuilding Industry Corporation (VINASHIN) of Vietnam (30%), held the launching ceremony for Hull No. S057, the 1st vessel of the order of series two 56,000DWT Class Bulk Carriers from Blue Tide Shipping No.1 S.A., Panama.




The representatives of the Owner (Hanjin Ship Management Co., Ltd.), KR Class and Shipyard attended the ceremony.




After launching, the vessel was moved to No.2 quay for completion of remaining works such as applying final coat of cargo holds, finishing remaining works on deck, testing and inspecting all systems of the ship, etc. before the vessel's sea trial.






As schedule, sea trial of the vessel will be carried out at the end of July 2011 and the vessel will be delivered to owner at the end of August 2011.


Published : June 14, 2011
Source: Asiasis
 
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COSCO Creative Design Contest


COSCO Shipyard Group recently launched a creative design contest for the green ship of the future.




The purpose of this creative design contest was to encourage the technological innovation of COSCO Shipyard and develop innovative ideas for future ship designs.



The contest attracted attention from both professional technical staff and production and management personnel from the COSCO Shipyard.



In accordance with the competition requirements, all design work was required to consider ship types of the future, and ensure that fully integrated and environment-friendly, economic and safe concepts were tabled.



On May 10, the Evaluation Committee judged the 23 shortlisted designs. Finally, the jury awarded the first prize to two designs, the "5000TEU hybrid high-speed containership" by the COSCO Zhoushan Shipyard Department of Design and "Future Water City" by COSCO Nantong Shipyard technology department.





Published : June 14, 2011




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Monday, June 13, 2011

Chinese move into larger boxships



Yangzijiang Shipbuilding’s $700m order for seven 10,000 teu containerships from Seaspan, with options for 18 more, could signal the start of a major shift in boxship building from South Korea to China.




Yangzijiang chairman Ren Yuanlin said the deal represented a “strategic move” for the company. “The successful design and manufacture of the 10,000 teu container vessel is important to promote and transform Yangzijiang and also the overall Chinese shipbuilding industry,” he said.



Barclays Capital research analysts Jon Windham and Patrick Xu said they believed the shipbuilder to be “one of the best-quality container yards in China”.



They said: “Securing these orders confirms our view that Yangzijiang will take leadership by moving into larger vessels, thus marking a shift in container shipbuilding in China, over the next five years.”



Yangzijiang’s orders prior to the latest one from Seaspan have been for smaller boxships, with the largest order on its books up to now being 4,800 teu.



Other Chinese shipyards have also shared this focus on smaller sized boxships, but data from Clarkson suggests a gradual clawing away of market share in larger vessels of more than 8,000 teu from South Korean yards, which traditionally have dominated the field.



There are 257 vessels comprising 2.8m teu on the global order book for containerships of greater than 8,000 teu. Of these, 77% are on order at South Korean yards and 13% at Chinese yards. The rest is made up of orders with builders mainly in Taiwan and Japan.



Looking purely at orders for post-panamax containerships in 2011, of the 702,200 teu booked year to date, 74% of orders have been placed at South Korean yards, while 14%, or 70,000 teu, went to China.



While the 70,000 teu is purely as a result of the Seaspan deal, should some or all of the options on the 18 additional vessels be exercised, then China could see its presence grow significantly.



“It is apparent that Chinese yards have begun to compete aggressively for orders,” noted Clarkson Research Services in its second quarter 2011 Container Intelligence Quarterly, pointing out that Jiangnan Changxiang has the fifth largest orderbook for containerships.



Mr Wu of Barclays Capital said Chinese yards had the advantage of lower labour costs, while at the same time many were improving their shipbuilding capabilities.





Published : June 13, 2011



Source: Asiasis
 
 
 
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Hyundai inks 1st newbuild LNG-FSRU




Hyundai Heavy Industries formally signed the world's first newbuilding LNG-FSRUs.




In Oslo, on June 10th, the South Korean shipbuilder inked a contract with Hoegh LNG to build two 170,000-m³ LNG-FSRU's worth around $500m in total.



Hyundai said the contract includes two options and additional orders are expected.



Back on April 6th, Hoegh LNG reported that it had signed a Letter of Intent (LOI) with Hyundai for the construction of two 170,000 cbm Floating Storage and Regasification Units (FSRUs) as well has 2 + 2 optional units.



The contract price of the two vessels is $253m each and they are to be delivered in the fourth quarter of 2013 and in the first quarter of 2014, respectively.



LNG-FSRUs cost about 50% of traditional onshore LNG terminals and take one year less for construction. They can also be moved to other area depending on energy demand.



Hyundai's specially-designed LNG-FSRU's will have to be dry-docked for repair and maintenance every 10 year rather than every 5 year, cutting losses.



A Hyundai official said, "LNG-FSRU newbuilding demand is very high. Currently about 10 projects are ongoing in Brazil, Indonesia, etc. and we expect further orders down the road."



Meanwhile, Hyundai inked four ships and offshore vessels worth about $700m in the past week, including one 84,000-m³ LPG carrier signed in Norway on June 10th and one Shuttle Tanker inked with Norway's KNOT on June 8th as well as the two LNF-FSRU's.



The South Korean major yard penned new orders for 53 ships and offshore vessels worth $13.5bn so far this year including Hyundai Samho Heavy Industries' orders.




Published : June 13, 2011




Source: Asiasis

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