Daewoo to score more offshore [Offshore]
Daewoo Shipbuilding & Marine Engineering of South Korea is to benefit from mid-and-long term project for natural gas development. KTB Investment & Securities said, "Daewoo inked a total of $12.4bn of new order in the first 10 months this year and ...
2011-11-04 07:03:41
Big3 Flounder [Shipbuilding]
Global economic downturn and higher costs dampened South Korean shipbuilders' profitability. Operating profits of major yards in the third quarter were halved on the same quarter last year, Hyundai Heavy Industries, Samsung Heavy Industries and Da...
2011-11-04 06:58:06
Kawasaki profit plummets [Shipbuilding]
Kawasaki Heavy Industries of Japan reported its business performance for April-September 2011. During the same period, revenue dropped by 13% to JPY 53.1bn ($679m) due to decrease in large-vessel sales. Meanwhile, operating profit based on consoli...
2011-11-03 11:59:19
16% of Chinese in red [Finance]
China's National Development and Reform Commission (NDRC) revealed that Chinese yards only remained with 940,000-dwt newbuilding order in September, the lowest in 27 months after June 2009. New order slippage is mainly caused by newbuilding oversu...
2011-11-03 11:23:54
Chinese yards face restructuring [Shipbuilding]
Chinese shipbuilding industry, less competitive in high-value ship sector, is likely to face restructuring. During a international forum regarding global shipping market in 2012, Kim Wu-Ho from Korea Maritime Institute (KMI) explained, "China woul...
2011-11-03 10:49:38
Samsung soon to turnaround [General]
Samsung Heavy Industries' earnings result fell short of market expectation in the third quarter, however, it would start to slightly grow as early as this fourth quarter. Investors are suggested to watch new orders for offshore plant next year. ...
2011-11-03 10:18:07
Big3 operating margins fall [General]
Operating margin at Daewoo Shipbuilding & Marine Engineering is coming under pressure as the company’s profits continue to fall. Hyundai Heavy Industries and Samsung Heavy Industries also saw their margins reduced to single digits as prices for ...
2011-11-03 08:14:11
Metrostar wins Korean RG case [Shipbuilding]
Greek shipping group Metrostar has won a landmark judgment in the UK Supreme Court in a refund guarantee row with South Korea’s Kookmin Bank. The bank contested its duty to repay shipbuilding instalments on a series of handysize bulk carrier new...
2011-11-03 08:06:23
Mitsubishi pens Cruiseships [Shipbuilding]
Mitsubishi Heavy Industries (MHI) announced on November 2 that it has completed two shipbuilding contracts with Carnival Corporation & plc, for the construction of two large-sized cruise ships for Carnival's AIDA Cruises brand. Delivery of the tw...
2011-11-03 08:00:37
Spanish inks AHTS [Offshore]
Spain's shipyard wins an order for two new anchor-handlers from Dutch owner Heerema Marine Contractors (HMC). HMC said the vessels will be built at Astilleros Armon in Vigo for delivery in 2013. The ships have a bollard-pull of 180 tonnes, wit...
2011-11-03 07:56:46
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