Friday, March 23, 2012

introducing SMM fair facebook



SMM is the leading international forum of the maritime industry. Every two years, the representatives of the shipbuilding and marine equipment industries from all parts of the world meet in Hamburg, present innovations and forward looking technologies, and set the course for future success of the industry. 


From the 4th – 7th September 2012 the SMM - shipbuilding, machinery & marine technology international trade fair hamburg - the world's leading trade fair of the maritime industry is held in Hamburg. Become a fan and get all the important information and the latest news at first-hand from the SMM! We look forward to exchange information with you! 


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SMM 2012 with gmec




SMM 2012 with gmec, MS&D Conference, Ship Finance Forum
and SMM Offshore Dialogue of the maritime sector for its 25th anniversary

Leading trade fair for the maritime industry focuses on the key issues
25th SMM, shipbuilding, machinery, marine technology international trade fair hamburg, at the Hamburg Fair site from 4 to 7 September 2012

SMM, the world’s leading maritime industry fair, will be held for the 25th time this year. The shipbuilding, machinery, marine technology international trade fair hamburg, held at the Hamburg Fair site from 4 to 7 September 2012, is expected to attract more than 2,000 exhibitors and 50,000 trade visitors from all continents. The four major topics of the maritime industry – maritime environment and climate protection, maritime security, offshore, and financing – will be discussed there with high-ranking participants at international conferences and workshops on the basis of the latest knowledge; while SMM 2012 will showcase state-of-the-art technology provided by the maritime industry.

gmec, global maritime environmental congress, to be held on 3 and 4 September, is a premium event at SMM 2012, and will contribute to achieving the environmental goals of shipping, with practice related conference sessions and inputs from eminent international experts.
MS&D, international conference on maritime security and defence hamburg, will focus on asymmetric threats from terrorism, piracy and political crises, discussing in particular the protection of shipping routes and ports. It will be held on 4 and 5 September, hosted by Hamburg Messe and the new partners DVV/Griephan and the German Maritime Institute (DMI). At the same time, the maritime range at the SMM will be widened to include maritime security and defence.

The second SMM Offshore Dialogue will be another key event, held on 6 September, covering Offshore Oil & Gas, Offshore Wind Energy, and Offshore Engineering. It is the ideal forum for exchange between international experts, shipyards and marine equipment suppliers, to discuss opportunities and challenges.

The Ship Finance Forum will be held for the fourth time this year, on 3 September, hosted by Hamburg Messe and Financial Times Deutschland. It is an international event and features leading experts, who will give answers to global financing issues in shipbuilding and shipping. 


SMM Youtube : http://bit.ly/GA7j7E via @SMMfair #shipbuilding


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Offshore leads the market



Amidst the newbuilding market getting quieter again, offshore sector continued its leadership in the market.

According to Golden Destiny, as for the commercial ship sector, the recent week closed with 15 vessels of a cumulative 49,000 dwt ordered in the world, down by 65% week-on-week.

Especially, it is notable that OSVs are contracted steadily. Daewoo Shipbuilding & Marine Engineering of South Korea booked FPSO totalling around $2bn. Also, Maersk Drilling plans to double its existing fleet of semi-submersible and jack-up rigs by 2016.

Director Jan Holm, Maersk Drilling said that the era of "easy oil" is gone and we need to find oil in deeper waters and harsher environments. Also forecast that oil majors would increase their investment on E&P.

Meanwhile, there has been a rise in demolition, with 229 vessels having been sold for scrap year-to-date, up by 52% on the same period last year. India buys scrap vessels at levels around $460/ldt for bulkers and less than $500/ldt for tankers. In terms of scrap price, it has slightly dropped compared with early 2012.



Published : March 23, 2012

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Japanese "Back on stage"



Another week has gone with slow newbuilding ordering activity in commercial ship market, due to the oversupply of vessels which led to freight rates in depression, and lack of financing.

Amid the newbuilding market having been in trouble again last week, "the interesting dynamic we are starting to see this year though is that of the Japanese yards coming more and more to the fore," noted Clarkson Hellas from its latest report.

Not to mention Japanese' high-end technology for fuel-efficient, eco-friendly vessels, the Yen has is weakening against the Dollar which would lead to enhanced price competitiveness for Japanese yards.

The Yen has recently hit 84.18 Yen to the Dollar, which had dropped to 75 Yen facing Eurozone crisis last year. This will be a relief to Japanese yards, in particular, to those who would go out of work in the second half next year.

Under a weaker Yen, Japanese shipbuilders, who will benefit more in the Dollar-denominated contracts, would actively contract export ships.

The Japanese builders, who seem to lead design market, especially on the fuel-efficient bulker, are more willing to open up to overseas owners. However, shipping market for bulkers seems still not likely to get better in any time soon, so only small amount of orderings are expected.

But it is also possible that Japanese builders would remain strong longer, armed with new design concepts which offer more than a 30% saving on the current vessels and price competitiveness.

During a recent week, South Korea's Samsung Heavy Industries and STX Offshore & Shipbuilding contracted one drillship and two OSVs each, Samjin Shipbuilding Industries of South Korea booked two 58,000-dwt bulkers and Jurong Shipyard of Singapore inked one semi-submersible well intervention rig. Also, Brazil's OSX and Wilson Sons penned 11 MR product carriers and four PSVs, respectively.

It seems that offshore sector now leads the newbuilding market.


Published : March 23, 2012

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Daewoo wins LNGC double



Maran Gas Maritime, the gas carrier arm of Greece-based Angelicoussis Shipping Group, has contracted two additional LNG carriers with Daewoo Shipbuilding & Marine Engineering.

The two ships, which were on option for Maran Gas, bring to seven the number of 159,800-cbm LNG carriers that it has ordered from DSME.

Scheduled for delivery in 2015, the two vessels take the company’s total LNG newbuilding programme to 11 units overall, with four 164,000-cbm vessels on order at Hyundai Samho Heavy Industries.

Maran Gas is also known to have remaining option for one more LNG vessel at HHI.



Published : March 23, 2012

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Hyundai to win Tsakos LNGC



Executives at Greece's Tsakos Energy Navigation confirmed it would order its first diesel-electric powered LNG carrier, with an option for a second.

It is understood to have signed a letter of intent to this effect with Hyundai Heavy Industries for its 162,000-cbm design, with a final confirmation expected as early as next week.


Published : March 23, 2012

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Hyundai "Revenue $100bn by 2015"



Hyundai Heavy Industries of South Korea had its 40th anniversary ceremony, one day ahead and made a resolution to fresh takeoff, on March 22.

Hyundai revealed mid-term vision to jump into all-around heavy industry corporation, with targeted KRW 100trn ($88.6bn) of turnover by 2015, which would have increased by 50% compared with KRW 66trn in 2011.

To achieve the target, the Ulsan-based company would secure growth engine by business diversification, establish global management system, cooperation with its subsidiaries, etc.

Hyundai, started with shipbuilding business in 1972, now has seven divisions - shipbuilding, offshore & engineering, industrial plant & engineering, engine & machinery, electro electric systems, green energy and construction equipment.

Also, Hyundai Heavy Industries group is composed of many affiliated companies in finance, energy, etc.

President Lee Jai-Seong emphasized, "We all should concentrate our will and ideas to jump into another 40 years."





Published : March 22, 2012

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Thursday, March 22, 2012

Hyundai changes VLCC to LNGC



In a regulatory filing on March 20, Hyundai Heavy Industries said it has modified newbuilding contract for five VLCCs, which was signed in February 2008, accepting a request from a shipowner from the Middle East.

As one of the five VLCCs has been changed into LNG carrier, terms of the contract, such as price and delivery date, have been revised accordingly.

The South Korean shipbuilder signed a ship-type modification contract on March 19. According to the newly amended contract, Hyundai would construct four VLCCs and one LNG carrier, totalling KRW 950.8bn (about $845m), up from KRW 725.4bn ($770m) with contract terminated on August 20 2014.

Meanwhile, state-owned Oman Shipping Company announced that it placed a new order for one 162,000-cbm LNG carrier due for delivery in 2014 at Hyundai, on March 19.



Published : March 22, 2012

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Vantage buys new drillship



Vantage Drilling has agreed to acquire a drillship newbuilding from its majority shareholder Nobu Su.

The US-listed company is to pay $164m to acquire the construction contract for the deepwater drillship Dragonquest.

Upon closing of the deal Vantage will be responsible for funding the remaining construction-related payments of $800m.

The Dragonquest is under construction at Daewoo Shipbuilding & Marine Engineering and is due to be delivered in April.

The drillship is owned by a Cayman Islands-registered affiliate of F3 Capital, which is controlled by the Taiwanese shipowner.

Vantage chief executive Paul Bragg said the company expects to complete the acquisition and take delivery of the rig in the coming weeks.



Published : March 22, 2012

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STX OSV getting expensive



STX OSV saw recent spike in its share price and AMFraser analyst Lee Yue Jer issues a note of caution for investors.

Lee says the deals worth a collective NOK 1.15bn ($200m) with Island Offshore and Dof the Singapore-listed yard recently signed could indicate more orders will follow as financing may be flowing again.

But while the analyst is standing by AMFraser’s buy tag on the yard, Lee noted: “The financing problems are not over in Europe, and high-beta STX OSV stands particularly at risk should the market get the jitters again.”

Shares in the shipbuilder closed at SGD 1.775 each yesterday, up from SGD 1.200 at the start of this year.



Published : March 22, 2012

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Shell signs Chinese shale gas deal



Royal Dutch Shell and state-run China National Petroleum Corporation (CNPC) have signed an agreement to explore, develop and produce shale gas in China.

The Production Sharing Contract covers about 3500 square kilometres over the Fushun-Yongchuan Block in China’s Sichuan basin.

“We are delighted about this new milestone in our strategic cooperation with CNPC,” said Shell chief executive Peter Voser.

“China has huge shale gas potential and we are committed to making a contribution in bringing that potential into reality.”



Published : March 22, 2012

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Western Marine builds ice-class ships



Chittagong, March 20, 2012: Bangladesh's leading shipbuilding company Western Marine Shipyard Limited delivered two more ships to German owner on 21 Mar 2012, setting another milestone in the country's shipbuilding industry.

The delivery would be the fourth pair of ice class ships built by the Western Marine for the German buyer Grona Shipping.

The EMSWATER & EMSFLOW are 5200 DWT MPC ships certified as E3 ice-class vessels which mean it is designed and equipped to sustain in cryogenic weather condition.

Around 1500 tonnes of ice-class steel were fabricated by using 60 tonnes of welding electrodes to build each ship while 23 kilometres of marine cables and 24,000 litres of paints were used for its skin protection.

Western Marine has emerged as a top local ship exporter in recent years, leading to keep major contribution to the national revenue.

Currently, the shipyard holds new building projects worth millions of money. They are building 5 X 4100 DWT ice-class container vessels for Stella Shipping, Denmark; 1 X RORO ferry for a Danish owner.

Numerous ships for port use, fishing trawlers, tankers, cargo carriers for inland and coastal use are in progress. The outstanding shipbuilding by the Western Marine has helped it achieve a global reputation at a very short period, ensuring international contracts and local orders to meet the demand for inland vessels, in both public and private sector.


Published : March 22, 2012

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Wednesday, March 21, 2012

B+V to sell parts unit



The new owner of Hamburg shipyard Blohm + Voss is to sell off its components division.

UK private equity company Star Capital Partners’ (SCP) boss Tony Mallin told German media that potential buyers were already in talks over a deal.

SCP is aiming for a profit of 20% from the disposal.

The company bought B+V’s merchant shipbuilding assets in December for a reported EUR 30m ($39.87m), plus a share in profit expected to reach EUR 40m. It is retaining the ship repair business, plus the super-yacht arm.



Published : March 21, 2012

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