• 2006 December 21 12:05

    Major S Korean shipyards' sales, profit jump in November

    Hyundai Heavy Industries, the world's largest shipyard, said sales last month increased 15 per cent from a year earlier, as it built more vessels at higher prices. Sales rose to 1.2 trillion won (S$2 billion) in November, from 1.04 trillion won a year earlier, the Ulsan, South Korea-based company said in a regulatory filing yesterday in Seoul.
    The company received orders valued at US$579 million, 51 per cent more than a year earlier. AP Moller-Maersk, CMA CGM SA and other shipping lines have been ordering more vessels to carry oil, containers and other products as demand for fuel increases and global trade expands. That has benefited Hyundai Heavy and other South Korean shipyards, which have a record order backlog that will keep them busy for more than three years. Hyundai Heavy's sales in the first 11 months increased 19 per cent to 11.25 trillion won. Of that total, revenue from shipbuilding rose 22 per cent to 5.87 trillion won and that from offshore projects gained 24 per cent to 1.67 trillion won.
    The shipyard's orders for vessels, engines, offshore projects and other products increased 14 per cent from a year earlier to US$17.9 billion in the first 11 months. Meanwhile, Daewoo Shipbuilding & Marine Engineering, the world's second-largest shipyard, said profit last month tripled, as gains from hedging the South Korean won countered higher steel prices. Net income surged to 34.2 billion won in November from 11.4 billion won a year earlier, the Seoul-based company said yesterday in a regulatory filing. Operating profit in the month plunged 62 per cent to 3 billion won, as the stronger won reduced the value of the company's overseas earnings. Daewoo Shipbuilding is headed for its second annual operating loss on higher costs for steel plates used to make ship hulls and the strengthening domestic currency.
    Rising demand for new vessels and increased deliveries helped boost sales 17 per cent last month to 544.6 billion won. The shipbuilder had a one-time gain from currency hedging last month, a Daewoo Shipbuilding spokesman said by telephone, declining to give the amount. The South Korean company and its peers book orders and sales in dollars and report earnings in won. The local currency has increased 8.9 per cent this year, the second-sharpest gain among the 15 most-actively traded Asia-Pacific currencies. January-November orders rose 53 per cent to US$10.6 billion, swelling the backlog to US$22.33 billion, which will help keep the shipyard busy for more than three years. Sales increased 14 per cent to 4.88 trillion won in the period. In the first 11 months, net income jumped 10-fold to 42.8 billion won, from 4.2 billion won a year earlier. The operating loss, or sales minus the cost of goods sold and administrative expenses, widened to 178.1 billion won from 120.1 billion won in the period.

2020 January 18

12:03 Svitzer appoints new regional managing director for Svitzer Americas
11:51 TORM obtains $496m bank financing for the refinancing of existing debt
11:16 Kalmar’s heavy-duty terminal tractors to help Maritime Truck enhance performance at the Port of Oslo
10:52 Port of Rotterdam reports increase in LNG bunkering in 2019

2020 January 17

18:06 Safe Bulkers refinances $105.2 mln of existing loan facilities with respect to eight vessels
17:52 Construction of Borssele 1+2 wind farm off Zeelandic coast begins
17:31 Murmansk Sea Fishing Port handled 263,500 tonnes of cargo in 2019, down 20.4% Y-o-Y
17:06 Wärtsilä solutions support environmentally sustainable performance for two new MSC Cruises's ships
16:50 BIMCO expands ice information service
16:27 A record year for cruise expected at Port of Southampton
16:02 Qatargas delivers first Q-Flex LNG cargo to Summit LNG FSRU in Bangladesh
15:49 Tallink Grupp sets group-wide CSR strategy and sustainable operations goals
15:23 RUB 127.57 billion of federal budget allocations approved for construction of Leader-class icebreaker
15:02 Dublin Port unitised trade up 3.6% in 2019
14:48 Seaspan Shipyards hosts ceremonial keel laying for the Royal Canadian Navy’s future Joint Support Ship
14:30 RF Navy's Black Sea Fleet minesweeper makes planned transition from Sevastopol to Mediterranean Sea
14:14 Diana Shipping announces time charter contract for m/v Astarte with Aquavita
13:51 Turnover of DeloPorts terminals in 2019 decreased by 5% YoY to 8.3 mln tonnes
13:32 SAAM agrees to acquire 70% of Intertug, a towage operator in Colombia, Mexico and Central America
13:03 Flex LNG announces extension of the time-charter agreement for Flex Enterprise
12:37 Kawasaki Heavy Industries delivers bulk carrier FJ VIOLA
12:27 Hapag-Lloyd signs space charter agreement with Maersk and MSC on the Asia-North Europe trade
12:20 Russian Maritime Register of Shipping reports it key 2019 results
12:03 Pyxis Tankers announces completion of sale of Pyxis Delta
11:38 KHI delivers LPG carrier PHOENIX GAIA
11:29 Throughput of Vostochny Port grew by 5.2% to 25.51 million tonnes in 2019
11:03 Eagle Bulk Shipping joins Getting to Zero Coalition
10:36 MABUX: Bunker market this morning, Jan 17
10:28 NYK agrees to MoU with Northern Offshore Group on partnership for crew transfer vessel business for offshore wind power generation systems
09:56 Brent Crude futures price is down 0.05% to $64.59, Light Sweet Crude – down 0.03% to $58.5
09:33 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:15 Baltic Dry Index is flat at 768 points
07:18 NYK and Van Oord sign MoU to own and operate offshore wind installation vessels in Japan

2020 January 16

18:37 CMA CGM announces FAK rates from India and Sri Lanka to North Europe and the Mediterranean
17:52 Mikhail Mishustin appointed as the Prime Minister of the Russian Federation
17:31 ClassNK issues Hong Kong Convention Statement of Compliance to Ship Recycling Facility in Bangladesh
17:03 Hapag-Lloyd announces rates from Middle East to Mediterranean and North Europe
16:39 Bunker prices are stable at the Far East ports of Russia following the recent growth (graph)
16:03 Vessels offered free shore power during Parkkade trial in Rotterdam
15:22 The CMA CGM Group is strengthening the organization of CEVA Logistics to begin the second phase of its development
15:03 New Stena Line ferry completes maiden voyage on Irish Sea
14:02 PIL launches new transpacific pendulum service, America Asia Service (AAS)
13:33 Port of Antwerp scores 7th record year in a row
13:02 THE Alliance unveils expanded service network for 2020
12:30 MISC, Samsung Heavy Industries, Lloyd’s Register and MAN Energy Solutions join forces on ammonia-fuelled tanker project
12:01 CMA CGM SSL Intra Europe will update its BAF for Algeria Morocco Tunisia Roro services
11:28 ABB presents recommendation for zero-emission marine technology to US Congress
11:26 Rosmorport summarizes results of its sailing ships's 2019 navigation season
11:01 Dmitry Stepanov appointed as General Director of Astrakhan Shipbuilding Production Association
10:37 IMO continues its work to review GMDSS requirements
10:18 MABUX: Bunker market this morning, Jan 16
09:50 NOVATEK reports preliminary operating data for 2019
09:29 Brent Crude futures price is up 0.69% to $64.44, Light Sweet Crude – up 0.73% to $58.23
09:16 Baltic Dry Index is up to 1,260 points

2020 January 15

18:35 Aker Solutions involved in international brownfield services contract award
18:06 The Convention between Carriers and Ports for OCEAN Alliance held in Boao
17:52 Intermodal unveils fresh new branding
17:46 Eagle Bulk joins Getting to Zero Coalition
17:23 Registration opens for 4th Annual Unmanned Maritime Systems Technology Conference in London