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Saturday, August 18, 2018

Samsung Heavy Industries News

Image: Ocean Rig

Ocean Rig Postpones SHI Drillship Delivery Till 2020

International offshore drilling contractor Ocean Rig UDW Inc. and South Korean yard Samsung Heavy Industries (SHI) have agreed to postpone the delivery of the newbuild drillship Ocean Rig Crete to September 2020. "Our subsidiary, that is party to the shipbuilding contract for the construction of its 8th generation enhanced integrated design newbuilding drillship, the Ocean Rig Crete, reached an agreement with SHI to postpone the delivery of the Ocean Rig Crete to September 2020," said a press release from the company.

Image: Nordic American Tankers

Samsung Heavy Industries Delivers New Vessel to Nordic American Tankers

South Korea's Samsung Heavy Industries (SHI) delivered the first new building, named Nordic Aquarius, to Nordic American Tankers (NAT). The Bermuda-based NAT said in a press release: "We have previously advised you of the new buildings coming from Samsung shipbuilding in South Korea in 2018, the first one now in July. The second ship is scheduled for delivery at the end of August and the third one at the end of October. It said that over the years they have received several new buildings from Samsung. All transactions have been performed in a flawless way.

Image: Samsung Heavy Industries

Samsung Heavy Industries Builds Smart Ship On AWS Platform

Amazon Web Services (AWS), an Amazon.com company, announced that Samsung Heavy Industries (SHI) selected AWS as its preferred cloud provider to support its digital transformation.Samsung Heavy Industries is turning to AWS’s expansive infrastructure, unmatched performance, scalability, and industry-leading services to gain competitive advantage in the smart shipping industry.Samsung Heavy Industries leaves the heavy lifting of its infrastructure to AWS, the world’s leading cloud…

Image: Samsung Heavy Industries (SHI)

Samsung Heavy Industries Post Quarterly Loss

Seoul-listed South Korean shipbuilder Samsung Heavy Industries (SHI) sunk into the red in the second quarter, on increased costs and one-off losses.SHI said in a regulatory filing that it posted a net loss of 142.7 billion won ($126 million) in the second quarter, compared with a net profit of 22.7 billion won a year earlier.The world's third-biggest shipbuilder by sales  blamed increased fixed costs and losses stemming from a delay in the delivery of a drill ship to Ocean Rig.Operating losses reached 100.5 billion won in the second quarter…

File Photo: Hanjin

Government Okays USD 1.2 bln for Korea Ocean Business Corporation

The government of South Korea decided to invest 1.35 trillion won (USD 1.2 billion) in Korea Ocean Business Corporation (KOBC). The compnay was created in order to help its shipping industry stand on its feet, especially after the bankruptcy of Hanjin Shipping.Yonhap reported quoting the finance ministry that Cabinet approved a plan to contribute 12.7-percent stakes in each of the country's four port authorities to the KOBC.Earlier this month, the corporation was officially launched in Busan…

Image: Teekay Offshore GP

Teekay Offshore Orders two LNG-fueled Aframax at Samsung Heavy Industries

Teekay Offshore GP entered into shipbuilding contracts to construct two LNG-fueled Aframax DP2 shuttle tanker newbuildings from Samsung Heavy Industries for delivery in late-2020 and early-2021, bringing the Partnership’s orderbook to six shuttle tankers.These newbuildings will be constructed based on Teekay Offshore’s New Shuttle Spirit design which incorporates proven technologies to increase fuel efficiency and reduce emissions, including LNG propulsion technology.Upon expected delivery in late-2020 through early-2021…

Image: GasLog

GasLog Sets Charter Deal with Centrica, Orders New LNG Vessel

Monaco-based LNG shipper GasLog signed a seven-year charter deal with the UK-based energy company Centrica for a newbuild LNG carrier it has ordered at the South Korean shipbuilder Samsung Heavy Industries. A 180,000 cubic meter LNG carrier (HN 2262) with low pressure two stroke (“LP-2S”) propulsion has been ordered from Samsung Heavy Industries in South Korea, with expected delivery in the third quarter of 2020. The rate of hire for the Charter is broadly in line with mid-cycle rates.

Photo: HMM

Hyundai Merchant Marine Selects 3 Yards to Build Eco-Friendly Mega Containerships

Since HMM sent out a Request for Proposal (RFP) to shipbuilding companies on April 10, HMM has considered all the conditions for newbuilding including delivery date and price of new ships suggested by shipbuilders, and finally selected three shipbuilders to sign a Letter of Intent (LOI) for 20 new vessels. First, HMM chose Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries (SHI) for seven and five 23,000 TEU containerships respectively which are expected to deliver in the second quarter of 2020.

Photo:  Ocean Yield ASA

Ocean Yield to Invest in Modern Vessels

Ocean Yield ASA is currently in negotiations regarding further investments in modern vessels with long term charters, said the company. In a press release, Ocean Yield  said that the investments are still subject to board approval and agreement on documentation. Ocean Yield expects that final decisions with respect to these investments will be made during the next few weeks. Recently, the company announced  that it has agreed to acquire three suezmax crude tankers with 10-year bareboat charters to Nordic American Tankers Limited (NAT).

Phto: Samsung Heavy Industries

South Korean Shipyards Aim More Orders

South Korean shipyards have sharply raised their order targets for next year on expectations that the shipbuilding sector will improve, Yonhap reported. The country's three major shipyards - Samsung Heavy Industries (SHI), Daewoo Shipbuilding & Marine Engineering (DSME),  and Hyundai Heavy Industries (HHI) - are looking at improving business conditions  on the back of a recovery in the global economy and stable oil prices. The report quoted industry sources saying that HHI is targeting US$13.2 billion worth of new orders next year, up 76 percent from this year's $7.5 billion.

Image: GasLog Ltd

GasLog: New Shipbuilding Order with SHI

GasLog , an international owner, operator and manager of liquefied natural gas (LNG) carriers, has announces that it has ordered a newbuild 180,000 cubic meter vessel with XDF propulsion from Samsung Heavy Industries (SHI) that is scheduled to  deliver in the third quarter  of 2019. This vessel is currently unchartered but its early delivery means that it is expected to deliver into a strong LNG shipping market. Paul Wogan, Chief Executive Officer of GasLog Ltd., commented, "I am very pleased to announce this expansion in our fleet.

Maersk Viking. Photo: Maersk Drilling

Maersk Drilling Axes Dozens of Staff

Maersk Drilling USA is laying off 84 employees who work aboard the Maersk Viking (UDW drillship), located in the Gulf of Mexico, and report directly to the company’s office in Houston, Houston Chronicle reported quoting data sent to the Texas Workforce Commission (TWC). The employees, who received notification of the layoffs on Jan. 12, report to the company's office at 2500 CityWest Boulevard. They will continue to work for the next two months until their employment is terminated, according to the WARN notice.

Photo: AET Tankers Pte Ltd

AET Adds Four Newly Built Tankers

Singapore-headquartered vessel owner AET Tankers - a subsidiary of Malaysia's MISC Berhad - has named and welcomed four newbuild tankers into its fleet in two separate ceremonies at South Korean shipyards. At Samsung Heavy Industries, Geoje, South Korea on Wednesday, 24 January, AET named two 113,400 dwt Aframax tankers “Eagle Barcelona” and “Eagle Brisbane”. Two 157,512 dwt Suezmax twins, “Eagle San Francisco” and “Eagle San Jose”, were named two days later on Friday, 26 January, at the Hyundai Heavy Industries shipyard in Ulsan, South Korea.

Photo: Capital Product Partners L.P.

Capital Product Partners Adds Two Vessels, Sells One

Greece-based international diversified shipping partnership Capital Product Partners announced the completed acquisition of the M/T ‘Aristaios’, as well as the sale of the M/T ‘Aristotelis’ and the acquisition of the M/T ‘Anikitos’. On January 17, 2018, the Partnership acquired the eco-type crude tanker ‘Aristaios’ (113,689 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding Co. Ltd., South Korea) for a total consideration of $52.5 million from the Partnership’s sponsor, Capital Maritime & Trading.

From left to right:  EMC President  Lawrence Lee; EMC Chairman  Anchor Chang; SHI CEO  J.O. Nam; SHI CMO  K.H. Kim (Photo: EMC)

Evergreen Orders Eight 11,000 TEU Containerships

Evergreen Marine Corp. (EMC) said it has entered into an agreement with South Korean shipbuilder Samsung Heavy Industries (SHI) to order eight 11,000 TEU containerships. Four ships will be owned by EMC’s subsidiary, Greencompass Marine S.A. and a further four by Evergreen Marine (Hong Kong) Ltd. The newbuildings are planned to be delivered from the first quarter of 2020 through the second quarter of 2021. EMC said the newbuilding program will help it meet future market demand as the carrier continues its ongoing fleet renewal.

Photo : Samsung Heavy Industries Co. Ltd. Pangyo R&D Center

Samsung Heavy Industries Bags USD 91.47mln Newbuild Order

Samsung Heavy Industries (SHI) swept 1 trillion KRW (USD 91.47mln) worth orders, including an order from an Asian owner to build eight 12,000TEU containerships for around 820 billion KRW. The neo-panamax vessels are 334m in length and 48.4m in breadth, to be delievered by May 2021. SHI believes the growth in seaborne trade and environmental regulations would lead to more commercial vessel newbuilding orders. SHI's order total for 2018 reached 1 trillion KRW as of now, including another recent order for a LNGC at around 210 billion KRW, well on the way to the yearly order target.

Schulte's PRONAV Acquisition Greenlighted

The Hamburg-based Schulte Group said it has received clearance by the German Federal Cartel Office for the acquisition of the LNG specialist PRONAV. With this strategic move, the family-owned ship owner and manager continues to increase its capabilities and capacity in the growing liquefied natural gas (LNG) market. Through the acquisition of PRONAV, the Schulte Group has increased the number of vessels under full management in its third-party management fleet by six additional LNG carriers (LNGC).

Mark III system's original design. Photo: GTT

GTT Bags Order for Three LNG Carriers, One Bunkering Vessel

GTT announces it has received several orders, since the beginning of the year, for the equipment of three LNG Carriers (LNGCs) and one bunkering vessel. The three LNGCs, offering capacities ranging from 174,000 to 180,000 m3, will be built at Samsung Heavy Industries (SHI) and Hyundai Samho Heavy Industries (HSHI)’s. They will be fitted with the membrane containment system Mark III Flex. Their deliveries are expected for 2020. In addition, the latest evolution of the Mark III system…

Johan Sverdrup RP leaving SHI Geoje shipyard. Photo: Samsung Heavy Industries

Samsung Heavy Industries Delivers Johan Sverdrup Offshore Platform

South Korea's Samsung Heavy Industries (SHI)'s Geoje shipyard has completed a riser platform topside for Statoil's giant Johan Sverdrup development offshore Norway. "SHI successfuly completed the North Sea bound offshore platform within the scheduled delivery date in the original contract," said a statement from the company. SHI revealed that one of the two offshore platform topside modules, worth KRW 1.18 trillion together, left its Geoje shipyard. SHI-built Johan Sverdrup topsides are for a 26,000-ton process platform and a 23,000-ton riser platform.

Photo: Samsung Heavy Industries

Samsung Heavy Industries Wins a LNGC Duo for USD 370 mln

Samsung Heavy Industries(SHI) revealed on April 4th that a contract for two 174,000㎥ LNG carriers on BOD approval term. The price is 184 million USD per vessel(around KRW 195 billion). The latest LNGCs would be delivered in July and October 2020. The contract comes with option for two. The LNG carriers would be equipped with Mark-Ⅲ Flex type containment system with re-liquefaction to lower BOG. The vessels are loaded with fuel saving technologies customized for the owner's operational needs.

Photo: Samsung Heavy Industries

SHI Bags a 180K LNGC Investment with an Option

Samsung Heavy Industries(SHI) revealed on March 5, 2018 that one 180K ㎥ LNG carrier newbuilding has been approved by the board of an overseas owner. The contract, is subject to agreement on the shipbuilding contract terms, which are scheduled to be agreed by March 9, 2018. SHI have granted an option for a further shipbuilding contract which remains subject to overseas owner board approval. SHI's 2018 orders so far include 8 containerships, 1 LNG carrier, and 2 tankers totaling 11 vessels worth 1.03 billion USD. The new LNGC contract would extend the order total to 12.

Nitin Gadkari. Photo: Official Twitter Page

Indian Shipping Minister Nitin Gadkari to Visit South Korea

Nitin Gadkari, India's Union Minister of Shipping will be on an official visit to the Republic of Korea (South Korea) from today (9 April 2018). During the 4 day visit, Shri Gadkari will focus on taking forward the bilateral cooperation between India andKorea in shipping, ports, inland waterways, highways, river interlinking and infrastructure sectors. An Undertaking on Mutual Recognition of Certificate of Competency of sea-farers will be signed during the visit. Known for maritime technology prowess…

Photo: Orient Overseas International

Orient Overseas Back to Black

Orient Overseas International (OOI) has announced a profit attributable to equity holders for 2017 of US$137.7 million, compared to a loss of US$219.2 million in 2016. Earnings per ordinary share in 2017 was US22.0 cents, whereas loss per ordinary share in 2016 was US35.0 cents. The Chairman of OOIL, C C Tung, said, “The economic backdrop for 2017 was more robust than forecasters had expected. Following a decade of low growth, we saw healthier performance in both GDP and trade volumes across most of the world’s major economies.

Photo: AET Tankers Pte Ltd

Shell, AET Deal for LNG Aframaxes

Malaysian-owned global shipping company specialising in the ocean transport of crude oil and refined products  AET Tankers and Shell International Trading and Shipping Company  formalised arrangements for the long-term charter of AET’s two newbuild liquefied natural gas (LNG) dual-fuelled Aframax tankers. AET’s two 113,000 dwt vessels are currently being built by Samsung Heavy Industries in South Korea and are due for delivery from Q3 of 2018. The arrangements will see Shell take both vessels on a long-term charter commencing in Q4 of this year.

Company to fit MSC newbuildings with both main and auxiliary engines Photo by MAN

MAN D&T Scoops 11 MSC Vessel Order

MAN Diesel & Turbo has won the order from MSC Mediterranean Shipping Company for 11 × 23,000 TEU container vessels equipped with 11 × MAN B&W 11G95ME-C9.5 main engines. Samsung Heavy Industries (SHI) will construct six of the vessels while Daewoo Shipping Marine Engineering (DSME) will construct the remainder. Bjarne Foldager, Vice President – Sales & Promotion, Two-Stroke Business – MAN Diesel & Turbo, said: “This order underlines the positive, long-term business relationship between MSC and MAN Diesel & Turbo.

© RENE HENRI ROSSEEL/ MarineTraffic.com

Capital Products Acquires M/T Anikitos

Capital Product Partners L.P. has announced that it has completed the previously announced acquisition of the M/T Anikitos, an eco-type MR product tanker (50,082 dwt IMO II/III Chemical Product Tanker built 2016, Samsung Heavy Industries (Ningbo) Co., Ltd.) for a total consideration of $31.5 million from Capital Maritime & Trading Corp.The Partnership funded the acquisition of the M/T Anikitos with the net proceeds received from the sale of the M/T Aristotelis, available cash and the assumption of a term loan under a credit facility with ING Bank NV of approximately $15.6 million.