Shipyard news

[ombugge]

Average newbuild price in 2024 cracks $90m, 30% above previous high - Splash247

Higher cost ship types such as gas carriers, containerships and cruise ships account for almost 50% of the tonnage ordered this year compared to an average across the 2010s of just 28%.

Example of higher cost ships:

Eastern Pacific taps HD Hyundai Samho for two ultra large ethane carriers -...

2 x 150,000 cu m vessels announced at HD Hyundai Samho last week, each worth roughly about $207m.
The ships are scheduled for delivery in July and September of 2027 and add to six ULECs costing around $200m each booked at Jiangnan Shipyard in China earlier this year.

[ombugge]

Today’s orderbook far more concentrated among fewer owners - Splash247

It has been a banner year for Asian shipbuilders with average prices for newbuilds hitting record highs.
The average newbuild price in 2024 has hit $90m, 30% above the previous high set in 2022, and far above the average levels across the last decade of closer to $50m, according to Clarksons data.

[ombugge]

Expansion plans laid out for HD Hyundai Vietnam Shipbuilding - Splash247

[[quote=“ombugge, post:1, topic:46283, full:true”]
Kalashnikov is not only producing guns. Now also ships and boats:

Kalashnikov takes aim at shipping - Splash247

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The yard traces its history back to 1996 when it was formed as a repair joint venture with Vietnam’s state-owned shipyard group. It entered the shipbuilding business in 2008, quitting repair work entirely in 2011.
With newbuild prices are at highs not experienced since their peak in 2008, and orders flying in across all the Hyundai yards controlled by HD Korea Shipbuilding & Offshore Engineering there has been significant expansion across the group’s Korean facilities.

[ombugge]

MSC contract signals Rongsheng’s return to shipbuilding - Splash247

MB Shipbroking is reporting that Rongsheng is also marketing large tankers and bulk carriers with delivery slots from the end of 2026, with the reactivation potentially leading to a 1% increase of global shipbuilding capacity.

[ombugge]

Chipolbrok goes for more newbuilding in China:

Chipolbrok seals newbuild brace - Splash247

The state-owned company has signed up for a 62,000 dwt pair similar to a series of six ships the CSSC-affiliated yard delivered in 2021 and 2022.

[ombugge]

Looks like Indian yards are capturing more of the small ship market:

Vertom orders MPP series in India - Splash247

PS> That looks suspiciously like and “X-Bow”.

Wilson ASA has ordered a total of 14 Short Sea Ships from Cochin Shipyard:

Wilson firms up eight bulker newbuilds in India - Splash247

[ombugge]

Ship order volumes hit highs not experienced since 2007 - Splash247

The latest data from Clarksons Research shows newbuild contracting in the year to date stands at 62.6m cgt worth $190.2bn, recently surpassing the volume ordered in 2013 to reach the highest annual level seen since 2007 when a record 94m cgt was contracted.

[ombugge]

A once great shipbuilding nation and great shipyard has fallen on hard times:

Navantia to buy Harland & Wolff - Splash247

Luckily a Spanish saviour is coming to the rescue:

Home 2024 - Navantia

H&W has a long and proud history:

Harland and Wolff - Shipbuilding and Engineering Works

Latest presentation

Pioneering twenty-first century offshore and maritime engineering - Harland...

[ombugge]

If we can’t build ships, blame China:

Washington probe lashes China’s ‘unfair’ shipbuilding practices - Splash247

“Through government support and public investments to its national shipbuilding ecosystem, China emerged as a market leader, commanding currently nearly 65% of global shipbuilding orders, an impressive rise considering the less than 10% share in 2000,” noted a recent report from Greek broker Intermodal.

A Chinese Commerce Ministry spokesperson dismissed the shipbuilding probe when it was announced last April, telling reporters in Beijing: “It lacks factual basis and goes against economic common sense to blame China for America’s own industrial problems.”

[ombugge]

Yangzijiang Financial inks product tanker newbuilds - Splash247

The spinoff of China’s largest private shipyard, Yangzijiang Shipbuilding, has yet to confirm the deal brokers estimate at up to $45m per newbuild.

[ombugge]

ST Engineering bags walk-to-work vessel order - Splash247

ST Engineering is on the move:

Last September, ST Engineering officially opened its Gul Yard to support the growth of the group’s marine business and replace its Tuas Yard, whose lease expired at the end of 2024. The builder has delivered a wide range of vessels, from patrol vessels for navies to superyachts for private clients, as well as specialised vessels for offshore wind and oil and gas operations.

[ombugge]

Lowest bid wins? It’s the least sustainable way of building a ship - Splash247

RNDV works with clients across Europe building for the merchant, naval and offshore sectors, including some of the largest cruiseship newbuildings of the last decade. The lesson of these projects is that, while the industry may have seen the business of shipbuilding as a low cost process, the future will demand a higher focus on quality, sustainability and value generation.

In many ways, contractors have been seen as a necessary evil in the shipyard process and there is a simple reason for that. Winning bids based on lowest cost rarely complete the project anywhere near the initial estimate. There are simply too many unknowns in the process once it has begun to make these quotes reliable. Instead, low cost bidders hope to make up the difference in variation orders once work has started.

PS> If high cost guaranteed high quality than US yards would win the “Quality prize” hands down.

[ombugge]

Trump Proposes New Ship Fees To Challenge China’s Maritime Might

While the US churns out its own steady supply of warships and Europe leads the world in building cruise ships, global merchant shipbuilding is dominated by three Asian countries: China, South Korea and Japan, which together account for well over 90% of commercial shipbuilding.

Higher costs for shipping on Chinese vessels could present an opportunity for shipbuilders in South Korea and Japan.

The US trade representative is proposing several service fees — including a levy of much as $1 million to be charged when Chinese-built vessels enter a US port.

If adopted, however, the proposed fees could translate to additional costs for American consumers, since higher shipping costs could be passed on in the form of higher prices. It’s also not clear that the proposals would be enough to restore American shipbuilding capacity, which has eroded despite century-old protections meant to encourage the use of US-built and -operated vessels.

[ombugge]

Trump Orders New White House Shipbuilding Office Amid Rising China Maritime...

“We applaud the creation of the White House Office of Shipbuilding and the entire shipyard industrial base not only stands at the ready to work with the new Office of U.S. Shipbuilding but we are also ready to answer the call to design and build America’s commercial and military fleets,” said Matthew Paxton, President of the Shipbuilders Council of America. “By fully utilizing the existing domestic shipyard capacity, the shipyard industrial base can meet the growing demands of national defense, restore American competitiveness, and create thousands of skilled jobs in communities across the nation.”

Will orders for large container ships, tankers, bulkers, Gas carriers of different kinds and Cruise ship with these revitalized US Shipbuilding yards be streaming in soon?

Who are going to fill all the skilled positions that will be created?
Maybe this is a crafty plan to employ laid-off Government workers and bureaucrats?

Good news for members of this forum:
Assuming these US-built ships will be flying US flag, there should be plenty of jobs for US mariners in the not too far future.

[ombugge]

MISC orders ethane carrier brace in South Korea - Splash247

The 100,000 cu m newbuilds, designed with dual-fuel ethane propulsion engines, will rank among the largest of their kind in the world, MISC said.
In addition to their primary role of transporting ethane, the VLECs are also capable of carrying ethylene and liquefied petroleum gas.

[AKBJR]

Most likely, the immediate beneficiaries would be the trade schools, welding instructors etc.
The last I heard, we are short on skilled welders.