Friday, August 26, 2011

Cargotec Best Supplier for MHI

Cargotec has won the Best Supplier award 2010 from Mitsubishi Heavy Industries Shimonoseki shipyard in Japan.

It was given to Cargotec's Offshore business and local Japanese team and, in part, is recognition of the company's drive to understand future customer needs through the provision of an extensive geographic presence and strong collaboration with customers.

"This award is a great acknowledgement from an important customer in the Asian market," says Edvin Tunheim Tønnessen, Cargotec contract manager, Advanced Load Handling.

Published : August 25, 2011


Big 3 to meet target

South Korea's Big 3 shipbuilders, namely Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbbuilding & Marine Engineering, all seem to achieve order target this year.

Samsung having already exceeded its target, Hyundai and Daewoo have achieved over 80% of target, as well, now in August.

At the moment, Samsung went over its target of $11.5bn by securing 46 newbuildings of $14.2bn, among which high-value ships took big part, including 16 LNG carriers, one LNG-FPSO, one LNG-FSRU, 10 drillships, etc.

Hyundai, including Hyundai Samho Heavy Industries, reached 81% of target with 76 ships, $16.1bn, the largest newbuilding order among Big3. Newbuildings of nine drillships, six LNG carriers, aside from world first one LNG-FSRU and others were booked.

Having obtained 40 vessels of $8.94bn up-to-now, Daewoo got to 81.3% of 2011 target, $11bn. 27 boxships with 20 of ultra-large 18,000-teu took the largest share of newbuilding order and others include eight LNG carriers, four drillships and one recently booked LNG-FSRU, etc.

Meanwhile, Korea's newbuilding order in July was cut in half from the same period last year, which seems to be temporary by seasonal factor.

An industry official said, "It is difficult to forecast when they will meet target exactly, however, Hyundai and Daewoo would easily exceed target this year with remainder of optional newbuildings and ongling projects. Demands for high-value ships, such as drillship, LNG carriers, would continue in H2, as well."

Published : August 26, 2011


colombo wins four MPSVs

Sri Lanka's Colombo Dockyard reports that it has signed contracts for the construction of four 78 m Multipurpose Platform Supply Vessels (MPSV) each with a 3,600 deadweight capacity.

The orders come from a Singapore based owner and the price has not been disclosed.

The MPSVs are designed by Seatech Solutions International (S) Pte Ltd of Singapore and incorporate an oil recovery arrangement and operate as advanced PSVs as well as light construction support vessel, complying to SPS Code 2008 and the Clean Design requirements of Class NK, dynamic positioning, fire fighting capability, oil recovery capability, capability to support ROV operations. The vessels will be designed and built to accommodate a 50 T active heave compensated crane, an A-frame and heli-deck.

Endurance will be 35 days with a cruising range of about 9,200 nautical miles speed of 14.5 knots

The vessels will have accommodations for 50 persons and they will be be the first built by Colombo Dockyard to Class NK classification.

Colombo Dockyard says the new orders are "a result of the owner’s extreme satisfaction of the shipyard, living beyond expectation of quality of material, workmanship and professionalism in executing the construction of the two 130 ton bollard pull anchor handling tug supply vessels that are presently being built at colombo dockyard. these two anchor handlers were unfortunately slightly delayed in their deliveries, owing to an unprecedented delay in supply of large anchor handling winches, manufactured in China by a Norwegian/Singapore based supplier, but are now scheduled to be delivered in mid October and end November, 2011."

To date, Colombo Dockyard has built four MPSVs in its facility and three more are under construction for another Singapore based company.

Published : August 26, 2011


Thursday, August 25, 2011

Hyundai's world largest icebreaker

Hyundai Heavy Industry of South Korea developed an arctic icebreaking commercial vessel, the largest in the world.

Hyundai announced on Aug 24 that final performance test for 190,000-dwt icebreaking ore carrier is successfully completed at Institute for Ocean Technology in Canada.

This icebreaker, 310m in length and 51m in breadth, is able to navigate in a speed of six knot (11km/h) while breaking 1.7-meter thick of Canadian frozen sea.

Although its capacity is over twice larger than currently-in-service 70,000-dwt icebreaker, speed rate is boastful. Also, its energy efficiency increased over 5%.

Applying a dual propelling system, with installment of two ring-type propellers, mobility is improved and designed to be floating ice-proof.

Published : August 24, 2011


Daewoo wins LNG-FPSO FEED

Daewoo Shipbuilding & Marine Engineering Wednesday announced that the consortium comprising Daewoo and France's Technip has signed a FEED (Front-End Engineering & Design) contract for Malaysia's LNG-FPSO.

The South Korean shipbuilder added it is proceeding with the FEED work but a final contract to build the floating LNG production, storage and offloading facility is yet to be confirmed.

Published : August 25, 2011


STX ready for ultra-wide thick plate

Korea's STX Offshore & Shipbuilding plans to introduce POSCO's ultra-wide thick plate for the first time in shipbuilding industry. STX is recently equipped for further cutting and processing of ultra-wide thick plate, supplied to Dairen yard, China.

Officials explained, "STX Dairen is to apply world's widest thick plate developed by POSCO. Extra investment on equipment is needed to build ultra-large ships with ultra-wide thick plate and STX gets ready for it ahead of other shipbuilders."

Ultra-wide thick plate is high value product, used in ultra-large ship, offshore plant and energy related construction. POSCO started to produce the widest 5300mm of thick plate in June 2011.

Meanwhile, Korea Big 3, Hyundai Heavy Industries, Samsung Heavy Industries, and Daewoo Shipbuilding & Marine Engineering, have no plan to introduce ultra-wide thick plate for a while.

Published : August 24, 2011


Wednesday, August 24, 2011

Petronas offshore gas development

Malaysia’s state-run energy firm Petronas is embarking on a MYR 15 billion ($5 billion) project to develop gas reserves from a cluster of fields in the North Malay basin.

Petronas said the project involved nine fields in Blocks PM301 and PM302 and in the Bergading contract area, about 300 kilometres off the coast.

The project will also see the company, along with its production sharing contract partners, develop a 200 kilometre pipeline to transport gas from the fields to Kerteh, Terengganu.

“Petronas and its PSC partners are undertaking the project on an accelerated basis, with the first delivery of 100 million standard cubic feet of gas per day expected by early 2013, ramping up to 250 MMcfd by 2015,” Petronas said in a statement.

Published : August 24, 2011


New orders at 20-month low

ship newbuilding orders plummeted to a 20-month low last month worldwide.

According to Clarkson Research Services data on August 23rd, new merchant ship orders totalled just 1.58m cgt or 67 ships in July.

The order amount is smallest since November 2009. It is 53% less on a previous month and fell by more than 60% from July 2010 when 4.2m cgt or 190 newbuildings were inked.

Seasonal factors like long summer vacation and continued worries on slow recovery of global economy seem to have had effect on the slump.

South Korean shipbuilders, which won the most ship orders this year, secured just 1m cgt or 19 ship orders last month, only half of 2m cgt or 55 ships secured a year ago.

A local major shipyard official said, "There seems to be no special reason for the slump, it can be viewed as a temporary slowdown after a shower of newbuilding orders in the first half of the year."

"LNG carrier orders, which recorded only five ships last year, has jumped to near 40 ships so far this year and the ordering will continue in the latter part of the year," he added.

Published : August 24, 2011


Newbuilding order in July lowest

In July 2011, total newbuilding order reached a record low in recent 20 months.

Clarkson Research Services reported on Aug 23 that newbuilding orders placed in July totals 67 vessels of 1.58m cgt, which records monthly-lowest in 2011 and for 20 months since Nov 2009 as well.

In terms of cgt, total newbuilding orders in July dropped by 53% from June and decreased over 60% from 4.2m cgt, 190 vessels in July 2010.

Recent downturn may be caused by summer vacation, pullback from over newbuilding order in H1, continued insecurity over global economy, etc. In summer, a sort of off-season is made, as shipowners in Europe take long-term vacation over a month.

Meanwhile, South Korea, which retook the first place in newbuilding order this year, ended up with 19 vessels of 1.6m-cgt new order sharply down from 55 ships of 2m cgt in July 2010.

Officials from shipbuilding industry said, "There is no particular reason for fallback of new order, but seasonal break and industries' taking a breather from H1 performance." And forecast, "Strong demand for LNG carriers, which went up to 40 vessels in 2011 from five ships in 2010,  would continue its uptrend in H2."

Published : August 24, 2011


KOMERI laboratory recognition by LR

Marine Equipment Research Institute achieved Laboratory Recognition from Lloyd's Register in Aug 2011. Field of Fire has recently recognized and KOMERI plans to expand into registration of Environment, Electromagnetic wave, Vibration, etc,.

Those companies in need of LR authorized evaluation of fire proof can benefit from simpler and lower-cost service from KOMERI.

KOMERI is now registered as a Laboratory Recognition from five of classification, including KR, BV, ABS, DNV and LR.

Published : August 23, 2011


Tuesday, August 23, 2011

Samsung order momentum "alive"

South Korea's Samsung Heavy Industries is analyzed to be still valid for mid- and long-term order momentum.

Researcher Lee Ji-Hoon from SK Securities said, "Short-term newbuilding order is faltering due to slow season, however, exploration and development of deep sea and increase in LNG demand keep mid- and long-term order momentum."

Lee added, "As low margin orders placed after 2009 would be reflected up to 30% in H2, it is natural to have lowered profitability. With exchange rate going up and thick plate prices relatively down compared to those from ordering time, however, profit decline would be limited." And forecast, "Operating margin in Q3 would fall a bit to 8.8% from 10.3% in Q2. Annual operating margin would go up 2%p to 9.6% from 2010."

He said, "Newbuilding order takes control of the share price of a shipbuilding company, and newbuilding order greatly depends on oil prices."

"As such, as long as oil prices do no plummet, the abrupt fall in share prices is over-reactive."

Samsung exceeded $14bn in new orders as of July end, and Lee expected total newbuilding order in 2011 to be over $18bn, over-achieving annual order target of $11.5bn set at the beginning of 2011.

Published : August 23, 2011