Tuesday, October 25, 2011

Q3 orders down 60%

During the same period, bulker new order decreased to $8.5bn by 70% on 2010, while gas carrier grew by 400% to $9.3bn.

In case of boxship, a total of 211 vessels were newly ordered, up by 125%, however, new order showed slowdown in the second half, with 6.2m dwt in Q1, 9.9m dwt in Q2 and 2.1m dwt in Q3.

During Jan-Sept, South Korea overwhelmed China of 383 vessels, 7.3m cgt with 299 ships, 12.1m cgt.

Meanwhile, overall 120 ships, 11.4m dwt of newbuildings were delivered in September and 1,816 vessels, 35.7m cgt (73.8m gt, 119,4m dwt) from January to September.

China and South Korea made deliveries of 832 ships, 13.7m cgt valued at $32.4bn and 390 vessels, 11.8m cgt valued at $37.6bn, respectively.

Orderbook by the end of September recorded 6,568 ships, 128.6m cgt (257,4m gt, 404,5m dwt), dropped 15% and 12% each in comparing with 7,760 vessels and 146.3m cgt each in the end of 2010.

In case of orderbook by builder country, China secures 2,830 ships of 49.4m cgt amounting to $112.4bn while Korea takes 1,333 vessels of 42.2m cgt valued at $137.7bn.

Orderbook by shipyard ranks Samsung Heavy Industries of South Korea on top with 9.05m cgt, Daewoo Shipbuilding & Marine Engineering on second with 7.96m cgt and Hyundai Heavy Industries, including Gunsan yard, on the next with 6.96m cgt.

Meanwhile, Clarksons' newbuilding price index in the end of September decreased 0.4p to 140.4p in comparison with August and also lower than 142.4p in the end of last year.

Published : October 25, 2011


China orders drop 43%

Chinese shipbuilders’ order backlog dropped significantly this year from the end of last year due mainly to prolonged global economic uncertainties.

The Chinese Ministry of Industry and Information Technology said in its report the country’s shipbuilders held a combined backlog of orders totaling 169 million deadweight tons (DWTs) at the end of September, down 14.5 percent compared to the end of December.

Meanwhile, China’s shipbuilding capacity rose 18.3 percent on-year to 51 million DWTs during the January-September period.

During the same period, the Chinese shipbuilders’ new orders fell 42.8 percent on-year to 29 million DWTs, the ministry said.

Experts attributed the drop to ongoing turmoil in the global economy. China rose as the world’s top shipbuilder in 2009, outpacing South Korea in the number of new orders received and order backlogs as its builders attracted new customers with relatively cheaper prices.

South Korea, however, regained its position of having the most new shipbuilding orders in the first half of this year by securing deals for large, value-added vessels, according to global market researcher Clarkson Research Services.

Published : October 25, 2011


ABB wins $288m order

ABB has won an engineering, procurement and construction contract at Statoil’s Troll A platform worth an estimated $288 million.

The contract will see the Swiss engineering company provide an electric drive system for the two new pre-compressors at the North Sea platform.

It comes after Statoil and its partners in the Troll licence on the Norwegian continental shelf - Petoro, Shell, Total and ConocoPhillips - decided last month to invest a total of $1.98 billion in two new compressors on Troll A.

The investment is aimed at both accelerating gas production at Troll A and at extending the facility’s lifespan to 2063, the Norwegian giant said.

ABB power system division chief Peter Leupp said in a statement that the company's technology was “ideally suited to connect the platform to the mainland electrical grid, enabling it to receive clean emission free power-from-shore through undersea cables”.

The two new compressors form the final phase of the planned capacity expansion on Troll A, and pave the way for the tie-in of gas from Troll West once oil production has come to an end.
Due to come on stream in 2015, the compressors will enable Troll A to produce 120 million cubic metres per day up until 2018, ensuring the ability to produce 30 billion cubic metres annually until 2024, Statoil said.

Located 70 kilometres off Norway’s western coast, the Troll A platform is the world’s largest natural gas platform. The concrete deep-water structure is also thought to be the tallest structure ever to be moved by humankind.

Published : October 25, 2011

Monday, October 24, 2011

KOMEC targets overseas buyers

The Korea Marine Equipment Global Service Center (KOMEC) holds an export consultation session for overseas buyers during October 26-27.

More effective PR and consultation are expected as it opens during 2011 Kormarine period.

The session is held in a Kormarine Exhibition at BEXCO, Busan and buyers will be able to visit booths to see equipment and meet manufacturers directly.

In a troubled market followed by European financial shock, South Korean marine equipment manufacturers are expected to open up a new market and maintain its high market share.

In this round of consultation, a total of nine global buyers from emerging market,  Singapore, China, Sri Lanka and others, including Vietnam's largest yard, Vinashin, etc., will participate.

Also, around 40 local companies, DongHwa Entec, Hanla Level and others are to take part in it.

Published : October 21, 2011

LNG carrier order runs to 104

Additional new order for LNG carrier is estimated to be over 100 ships by 2020, excluding already ordered ones.

Mitsui O.S.K Lines of Japan revealed that long-term demand for LNG carrier would lower by speculative orders mainly from Greek and North European owners.

Growth of newbuilding orders would bring imbalance of supply and demand in 2013-2015, while tonnage shortage appears again after 2017.
 Also, LNG-carrier fleet is expected to be short up to next year and shipping market to grow.

According to MOL, demands for newbuilding LNG carriers to be 104 ships by 2020.

A total of 67 LNG carriers seem to be needed afterwards, including 12 ships to be operated in projects with FID (Final Investment Decision), 35 vessels to increase production from existing plants and 26 ships to replace scrapped ones, however, total amount was down-adjusted to 67.

Considering already new ordered 55 vessels, 12 pieces are short.

Assuming annual supply from new projects in 2016-2020 to be about 73m ton and annual capacity apiece as 790,000 t, about additional 92 newbuilding LNG carriers are estimated to be needed. Thus, adding the shortage of 12 ships, a total of 104 LNG carriers seem to be in demand by 2020.

Published : October 24, 2011


STX "Stabilization First"

STX Group announced Sunday that it would not proceed with any M&A in the near future.

It would also stabilize its financial position by selling overseas assets and introducing foreign capital.

Chariman Gang Duk-soo said, "We have no plan of large M&A after giving up Hynix Semiconductor of late."

"We will focus more on stabilization of the group's staple businesses," he added.

Published : October 24, 2011