d’Amico International Shipping S.A. (Borsa Italiana: DIS), has announced that its subsidiary d’Amico Tankers Ltd has signed a $66 million contract with South Korea's Hyundai Mipo Dockyard (HMD) for the construction of two, 50,000 DWT product/chemical tankers. These two newbuildings will be to the latest, highly efficient IMO II Medium Range (MR) design. The HMD … [Read more...]
Korean Owned, Vietnamese Operated | Hyundai-Vinashin Shipyard Thrives in Vietnam
- by Matthew Flynn, DNV [dropcap]W[/dropcap]e have the best Korean technology and also the mentality of the Korean approach. We can do. We will do!” said Mr Lee Young Hoon, President & CEO of HVS. “We will become the best shipyard for bulk carriers in the world and we are preparing ourselves to achieve this ambition.” He pointed out that HVS has … [Read more...]
Hyundai Heavy 1Q Net Hit by Lack of High-End Ship Orders, Profit Tumbles 63%
SEOUL (Dow Jones)--Hyundai Heavy Industries Co. (009540.SE), the world's largest shipbuilder by sales, said Thursday first-quarter net profit tumbled 63% from a year earlier, hurt by a fall in high-end ship orders, but flagged an expected pickup in orders from the current quarter. "Order volume of high-end ships won before the 2008 financial crisis almost dried out and … [Read more...]
Hyundai Mipo and STX Receive New Shipbuilding Orders
Hyundai Mipo has reportedly won a $198 million newbuild order from an undisclosed European client for 4 platform supply vessels. The report from the Thai News Agency is via a regulatory filing which also indicates the ships will be delivered in May 2014. This contract comes just two weeks after receiving a $250 million order from the Kuwait Oil Tanker Company (KOTC) for 4 … [Read more...]
South Korean Shipbuilding Faces Hard Times, Hyundai Heavy Reflects
Analysts expect the downturn in global orders for capesize bulk carriers to continue through to 2012, which may intensify the race for survival for shipyards in China. -By Alex Lee After witnessing a brief recovery in the shipbuilding industry, South Korean shipyards are now bracing for hard times again. An initial burst of energy and optimism quickly slipped back into … [Read more...]