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S. Korea: Shipyards, steelmakers at odds over steel price hike

South Korea’s major shipbuilders and steelmakers have been in talks over a steel price hike for weeks, but they still face difficulties narrowing their differences, industry sources said Tuesday. Last week, the Korea Offshore & Shipbuilding Association urged top steel producer POSCO and No. 2 player Hyundai Steel Co. to cut the prices of thick steel plates used for shipbuilding, adding that local shipyards are struggling with falling prices for their products and increased competition. The association claimed that prices of iron ore, the raw material for steelmaking, have suffered ...

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GTT announces an evolution of the Mark III Flex technology

With the growth in the use of increasingly efficient propulsion systems, the LNG shipping industry is continuously looking to reduce the level of daily evaporation of the LNG cargo (Boil-Off Rate) in modern vessels. In order to meet this requirement, GTT, in turn, is continuously up-grading its technologies. A new evolution of its Mark III Flex technology has been developed and has recently received the General Approval from the classification society ABS. This latest variant of the sea-proven Mark III Flex technology benefits from an improved insulation performance through an ...

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Samsung Heavy hires Australian safety expert

Samsung Heavy Industries has recruited an occupational safety engineer from Australia to beef up its tarnished image following a series of safety-related lapses in recent months. Korea’s third-largest shipbuilder said Monday it hired Peter Hayward as an executive director in charge of overseeing the firm’s safety-related matters. The company had been looking for an engineer with extensive knowhow and expertise in the field since July for its newly established safety management division. Hayward, 57, began his career at ExxonMobil in 1982 as a health and safety engineer whose primary task ...

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GTT receives an order from Hyundai Heavy Industries to design the LNG tanks of a new FSRU

GTT has received an order from the South Korean Shipyard Hyundai Heavy Industries. The order concerns a new Floating Storage and Regasification Unit (FSRU) which has been contracted by Triumph Offshore, a subsidiary of the Indian ship-owner Swan Energy. Its delivery is scheduled in late 2019. GTT will design the LNG integrated tanks which represent a total capacity of 180,000 m3. These tanks will be equipped with the membrane containment system Mark III, a sea-proven technology developed by GTT. This insulation system benefits from an unparalleled track record: it has ...

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Sembcorp Marine signs letter of intent with SeaOne for the construction of large Compressed Gas Liquid carriers

Sembcorp Marine subsidiary Sembcorp Marine Specialised Shipbuilding Pte. Ltd. and SeaOne Caribbean LLC (SeaOne) of Houston, Texas, USA, have inked a letter of intent (LOI) for the design and construction of at least two large Compressed Gas Liquid (CGL®) carriers. These vessels will be deployed for SeaOne’s Caribbean Fuels Supply Project. Sembcorp Marine will provide a unique design for the neo-panamax CGL carriers based on SeaOne’s single gas and liquids cargo delivery requirements. The design will incorporate proprietary ship component ideas from Sembcorp Marine subsidiary LMG Marin, a leading naval ...

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Capabilities of Baku shipyard for building subsea construction vessels and other types of offshore & marine vessels

Baku Shipyard (BSY) is a joint venture which was established on May 2011 by the State Oil Company of Azerbaijan SOCAR (65%), Azerbaijan Investment Company (25%) & Keppel Offshore & Marine (10%). Main activity of BSY consist of the construction of a variety of vessels ranging from offshore support vessels, general cargo vessels, tug boats, crew boats, specialized vessels to tankers. The yard also undertakes ship repair and conversion of such vessels. Baku Shipyard is equipped with all modern facilities for accomplishment of new building, dry docking, repairing of all ...

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China poised to torpedo Japanese shipbuilders’ tenuous recovery

Japan’s shipbuilding industry has enjoyed a sustained recovery so far this year, but mainly because China has drastically cut production. If Chinese rivals decide to go on the offensive, the market revival that has taken root this year could fizzle as quickly as it came. Zhoushan, the port city 300km south of Shanghai, houses more than 60 shipyards across an archipelago of 1,400 islands. It is one of China’s foremost shipbuilding centers. But the shipyards dotting the inlets are veritable ghost towns. All that is left are rusting cranes and ...

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Korean shipyards’ Q3 net forecast to drop on increased costs: data

South Korea’s major shipyards, led by Hyundai Heavy Industries Co., are projected to report weaker-than-expected earnings for the third quarter of the year, due to increased costs and the construction of low-priced ships amid decreased new orders, industry sources said Sunday. According to the data compiled by Yonhap Infomax, the financial news and information arm of Yonhap News Agency, Hyundai Heavy is expected to log an operating income of 106 billion won (US$93.6 million) during the July-September period, compared with the previous year’s operating earnings of 322 billion won. The ...

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Korean ship and steel makers at odds over plan to hike vessel steel plate price

South Korea’s ship and steel makers are wrangling over the planned hike in vessel steel plates as shipbuilders still reeling from a lengthy global slump worry higher production cost would further weaken their competitiveness against Chinese rivals. According to sources from shipbuilding and steel industries on Friday, three shipbuilding majors Hyundai Heavy Industries (HHI), Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries are engaged in negotiations with mainstream steel mills Posco, Hyundai Steel and Dongkuk Steel Mill that claim they cannot afford the current supply prices for shipbuilding ...

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Colombo Dockyard banks on ship repairs, heavy engineering to return to profitability

Colombo Dockyard PLC (DOCK), which has been navigating through rough seas in recent years, is hoping to return to calmer waters in the next financial year, backed by ship repairs and heavy engineering projects. “In 2018, we will be able to pick up. Right now we’re making losses, and we’re trying to mitigate it and at least reduce the loss compared to last year, gradually, so that we can show some improvement, with heavy engineering and ship repair,” DOCK Managing Director/CEO D. V. Abeysinghe said last week. DOCK made Rs. ...

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Alang ship recycling yard to be upgraded with $76 m Japanese loan

The world’s largest stretch of ship-breaking beaches on Alang-Sosiya, in Gujarat’s Bhavnagar district, will be upgraded through a $76 million soft loan from the Japan International Cooperation Agency (JICA). An official announcement on the loan will be made in Gandhinagar on Thursday during the visit of Japanese Prime Minister Shinzo Abe, multiple sources told BusinessLine. The total cost of upgradation is $111.22 million, which would be financed by as much as 68 per cent through the JICA loan. The loan will have a tenure of 30 years at an interest ...

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German Ship Repairer To Build Ship Repair Dockyard And Floating Docks

The joint-venture company building out a dockyard for boat repair in Jamaica is training workers for the business, even as it finalises financing to further ramp up the operation. Nearly one year into its operation, German Ship Repair Jamaica Limited (GSRJ) says Jamaica lacks the skills set needed for the dockyard, forcing them to invest in training, according to company Chairman Peter Harren. As for the amount of capital it is chasing, Harren said GSRJ is talking to the banks about the investment and so would not share those figures ...

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Shipyard Consolidation: Cutting The Orderbook Cake

Shipbuilding is becoming more consolidated, with the total number of active shipyards having fallen sharply over the last decade, driven primarily by a substantial decline in size of the orderbook. This month’s Shipbuilding Focus investigates the extent of this orderbook consolidation, which continues today against the backdrop of the muted contracting environment. No Piece Of Cake With the orderbook having peaked back in 2008, there has been significant and well-reported consolidation in the shipbuilding industry over the last decade. The total number of active yards (all those with at least ...

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India, Ukraine discuss partnership potential in ship-building

India and Ukraine discussed potential for developing sustainable partnership between them in the area of ship-building, a statement said. The discussions took place on Monday during the visit of a Ukrainian delegation led by its Deputy Minister of Economic Development and Trade Nataliya Mykolska. Giving an overview of ship building industry in their country, the Ukrainian delegation invited senior officials of the Shipping Ministry to visit Odessa and Kiev to study the logistic chain and shipbuilding yards in particular. Indian Shipping Secretary Ravikant invited Ukraine to send a group-cum-business delegation ...

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Korean shipbuilding companies want to cooperate with Azerbaijan

South Korean shipbuilders are interested in cooperation with Azerbaijan in maritime navigation. Korean deputy ambassador Kwon Dong-seok told reporters that cooperation in this area will be discussed during the forthcoming visit of a delegation of representatives of 10 major South Korean companies to Baku in September. Great attention is being paid to this area in Azerbaijan, the country is acquiring ships in large quantities, Dong-seok noted. A trade mission of the Embassy of South Korea is currently preparing a visit of representatives of Korean companies, specialized in the shipbuilding sector, ...

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