d’Amico International Orders Pair of “ECO Design” MR Product Tankers

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...]

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...]