The U.S. announcement caused shares of shipbuilding-related companies to surge in South Korean markets. The U.S. probe into China, which dominates the global shipbuilding industry, will benefit the South Korean shipbuilding industry. Increased foreign and institutional buying drove the stocks to higher levels on Apr. 18.
PS> But is it likely to make any difference for US Shipbuilders?
And while we are on the subject of South Korean shipbuilding:
South Korean yards have completed 500 liquefied natural gas (LNG) tankers for export since 1994, according to the Ministry of Trade, Industry, and Energy.
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Seatrium (ex Semb Corp) has lost in court again:
Singapore shipyard group Seatrium has agreed to pay an additional $68m to settle a rig building dispute with Norwegian industrial investor Akastor. Akastor said in a filing on Oslo the sum would be paid as full and final settlement and booked in its...
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A bit confusing re; Aksastor and MHWirth relations:
The operating company is now called HMH:
The history of HMH goes back to 1895, with a lot of purchase, mergers and JVs since then:
We build on the legacy of our historical brands Maritime Hydraulics (MH), Wirth, and Hydril Pressure Control among others, giving us a unique opportunity to innovate in different segments and expand.
Source: About HMH - HMH
In Brussels and Washington, debate is ongoing about how best to revive shipbuilding as fears grow about the dominant position China has in the sector. The People’s Republic now commands more than 50% of the global merchant ship orderbook, while its...
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Anybody here with some useful suggestions to help the Government solve this problem?
Not only in the US:
European shipbuilders have also held a rallying call, determined to claw back business, urging politicians to come onboard.
Shipyards in Italy, France, Germany and Finland are still leaders in the construction of large cruise ships.
The former leading shipbuilding nation in the world is also in steep decline:
Ask Scotland if they have any advice:
ombugge
August 5, 2024, 10:57am
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Korean shipbuilding is also booming.
Faced with record orderbooks, and emerging production bottlenecks, the South Korean government has opened a shipbuilding training centre in Indonesia to provide training programs for Indonesian workers seeking job opportunities in Korea. The centre...
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South Korea’s shipbuilding industry currently has 15,500 foreign workers, 16% of the total shipbuilding labour force with Seoul keen to make working visas for foreign shipyard workers easier to get. Across Southeast Asia labourers have been sought from places like Thailand and the Philippines. Seoul has also gone further away to find labour sources, turning to landlocked Nepal, with up to 3,000 Nepalis being sought to come and work in South Korea.
A specialized “shipyard” of sort to be constructed from scratch and put into operation in the fourth quarter of 2025:
Wison New Energies and the Qidong municipal government of China’s Jiangsu province have signed an investment agreement to construct the company’s new yard for offshore facilities. The yard, which will be built in the Qidong Lusi Port Economic...
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The Qidong Yard covers around 1.2m sq m, and Phase 1 contains a shoreline length of 1,370m with an excavated deep-water harbour basin. According to the development plan, there will be a 520m x 110m offshore (dry ) dock, along with a 2,000-tonne gantry crane.
ombugge
August 20, 2024, 11:52am
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Foreign owners are beginning to get anxious into the impending conclusions of the US probe into Chinese shipbuilding, aware that some of the possible recommendations could be highly punitive. The US Trade Representative (USTR) launched an...
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While the US Chamber of Commerce argued China does engage in unfair pricing practices, its chief policy officer, Neil Bradley, in a recent report said the proposed responses by Washington would not work.
China has a leading 46.59% share of the global shipbuilding market, while the US has an insignificant 0.13% share, according to data from the US Naval Institute.
PS> See comment from Gerry Duggan below the article:
I would like nothing more than to see a revitalised shipbuilding industry in the US and across the pond in the UK, but as someone once said to me, its not how many ships in a year we can produce, its how many years per ship it takes!!!.Ask yourself this, why would any owner pay $120million for an MR tanker from US or UK for international trade, and have to wait 18 months for it, when he can get the same plus another one in 12 months from Asia for the same cost.!!!
ombugge
September 2, 2024, 1:47pm
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COSCO place giant order for bulkers at COSCO shipyards for leasing to COSCO owned companies:
COSCO Shipping’s ordering spree has continued with a massive newbuilding programme in the dry bulk segment. The Chinese state-owned shipping giant has commissioned 42 bulker newbuilds across its affiliated COSCO Shipping Heavy Industry and CSSC...
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COSCO’s largest shipbuilding order, which comes hot off the heels of the company’s move on a dozen 14,000 teu methanol dual-fuel containership newbuilds and eight newcastlemax bulkers, will see the ships delivered in 2026 and 2027.
ombugge
September 3, 2024, 12:30pm
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Shipbuilding is also active in the news this week:
Canada has joined a growing chorus of shipyard nations taking aim at the world’s dominant shipbuilder. Colin Cooke, president and CEO, Canadian Marine Industries and Shipbuilding Association (CMISA), has delivered a hard-hitting message to...
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Colin Cooke, president and CEO, Canadian Marine Industries and Shipbuilding Association (CMISA), has delivered a hard-hitting message to Ottawa demanding that the Justin Trudeau administration enact tariffs against Chinese-built ships, following on from similar calls in the US and Europe.
I wonder how that will work?
Does that sound familiar?
PS> Should other countries pass similar tarifs on say aircrafts etc.?
ombugge
September 3, 2024, 1:07pm
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Meanwhile China is consolidating it’s shipbuilding capabilities:
Two units of China’s largest shipbuilding conglomerate, China State Shipbuilding Corporation (CSSC), have moved to merge through a share swap deal expected to end competition and create a new global shipbuilding behemoth. CSSC’s Shanghai-listed...
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China’s drive to integrate its two major shipbuilding businesses is consistent with its overall objective of combining state-owned enterprises across industries to create stronger entities and reduce rivalry among local businesses. The move resembles the combination of China COSCO Shipping Corporation and China Shipping Group in 2016, and the integration of China Merchants Group and Sinotrans CSC a year later.
Japanese shipbuilders are also increasing their capacity, but abroad:
It’s not just in China where shipyards are expanding to meet pent-up demand for new ships. In the Philippines, Japanese-backed Tsuneishi Heavy Industries (Cebu) has announced plans to add a further 30 ha of space to its yard, adding an extra slipway...
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Tsuneishi also has yards in Japan and China a nation where shipyards are expanding and churning out ships on a scale not seen since 2008.
Elsewhere in Asia, there has been a noticeable buildup in shipbuilding aspirations coming out of India this year with the country determined to climb the ranks to become a top five shipyard nation within the next decade.
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ombugge
September 4, 2024, 9:20pm
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Looks like China is reacting to the 100% tariff on EVs:
