Highest production amid slump
South Korean large shipbuilders are expected to deliver over 500 ships this year, the highest figure ever. According to Korea Shipbuilders’ Association (Koshipa), its nine member companies, which are major shipbuilders, have completed over 400 newbuildings last year and they would turn over more than 500 ships to shipowners for the first time in 2009.
The nine shipbuilders’ output accounts for 90% of the total ship production in Korea and they handed over a total of 407 vessels in 2008, up around 20% from 340 units in 2007. Last year, Hyundai Heavy Industries (HHI) delivered over 100 vessels for the first time. Other major shipbuilders such as Samsung Heavy Industries (SHI), Daewoo Shipbuilding & Marine Engineering (DSME), STX Shipbuilding and Hanjin Heavy Industries & Construction (HHIC), etc also have expanded their output. In 2009, the output growth rate is expected to increase with the nine shipbuilders planning to hand over 522 newbuildings, up around 30% against 2008. Newbuilding order boom since 2004 and shipbuilders’ expansion of building capacity contributed to the increase in shipbuilding output. As for HHI, its FPSO-exclusive dock is set to be completed within this month and its new yard Gunsan Shipyard is scheduled to launch the first ship in November this year. Also, SHI’s No. 3 floating dock starts operation this month and DSME has completed the expansion of its No. 2 dock in November last year. In 2009, HHI plans to deliver 119 ships (102 in 2008), SHI 63 ships (53 in 2008), DSME 75 ships (55 in 2008), HHIC 35 ships (20 in 2008). Hyundai Samho Heavy Industries aims to hand over 40 ships this year (35 in 2008) and Hyundai Mipo Dockyard 72 ships (70 in 2008).
Hyundai completes 102 vessels
World Top spot Hyundai Heavy Industries (HHI) announced that its newbuilding completions in 2008 reached a total of 102 units, up 22 ships from 2007. The record is a world first for any major shipyard. Since 1974, HHI has completed a total of 1,505 ships for 237 shipowners in 44 countries across the world. Cumulative totals for completion volume were 100 ships as of 1979, 200 as of 1983, 500 as of 1992 and 1,000 as of 2003. HHI expects to complete 119 ships in 2009. With HHI receiving no orders in both October and November, the company's total orders received for January-November 2008 stood at 110 ships aggregating 10.01 million grt and $13.6 billion in value, unchanged from the earlier reported performance for January-September 2008. The 110 ships consist of 37 tankers, 35 containerships, eight LPG carriers, 23 bulkers, two drillships, one special ship and four others. In its total order book, HHI now has a total of 362 ships of 31.3 million grt valued at $34.8 billion. The 362 ships consist of 114 tankers, 155 containerships, four LNG carriers, 30 LPG carriers, 38 bulkers, three drillships, 10 special ships and eight others.
2009년 1월 6일 화요일
2009년 1월 5일 월요일
NEWS / January 6, 2009
“Innovation & Challenge”
While newbuilding order drought is expected to continue in 2009, chief executives of South Korean major shipbuilders selected “Innovation and Challenge” as the management key words of this year.
Although the market is showing a severe slump, CEOs plan to convert this crisis into an opportunity with the spirit of challenge peculiar to Korean enterprises, business process innovation, cost reduction and new technology development such as ice-class ships.
Hyundai Heavy Industries President Choi Kil-seon stressed that management innovation is what should be done first. He laid emphasis on three things: improvement of ‘high cost’ structure / preparing countermeasures against fluctuations in foreign exchange rates and raw material prices / refrainment from unnecessary investment and preoccupation of new business opportunity.
HHI Vice Chairman Min Keh-sik demanded inefficient business routines be innovated and said radical reform is required as profitability in all business sectors is expected to sharply deteriorate in 2009.
Samsung Heavy Industries, the only shipbuilder which over-achieved the self-set order target last year among major shipbuilders, advocates “Creative Innovation and Challenge” as its 2009 management slogan. It plans to focus on three tasks: cost reduction / new technology development such as ice-class ship and wind power generating equipment / client satisfaction through security and quality improvement.
SHI President Kim Jing-wan said cost reduction is the utmost priority and SHI needs to preserve the market share in offshore sector such as drillship and LNG-FPSO while making inroads into ‘future’ businesses.
Daewoo Shipbuilding & Marine Engineering, although the negotiations are having a hard going regarding the sale of a 50.4% stake in it to Hanwha Group, it plans to achieve KRW13trn (USD9.8bn) of revenue this year and set its 2009 order target at more than $10bn for the fourth consecutive year.
DSME also aims to gain a dominant position in drillship and FPSO sectors after it has already attained superiority in LNG carrier and VLCC markets and plans to develop new technology such as ice-class ships.
STX Group placed emphasis on ‘aggressive foreign market exploitation’ and ‘strengthening the growth potential’, advocating “Challenge” as its 2009 management key word.
STX Chairman Kang Duk-soo particularly highlighted four sectors: offshore plant business such as drillship and FPSO / LNG carrier construction and LNG shipment / industrial plants such as power plant and oil refinery / development of energy resources.
South Korean shipbuilders are now leading the world shipbuilding industry but in order to change the current crisis into an opportunity, they need to face the newbuilding order slump with daring strategies.
Meanwhile, shipbuilders have usually announced their order target at the beginning of a new year but no shipbuilder has revealed its aim yet except DSME this year. Despite “Innovation and Challenge”, shipbuilding industry is forecast to face rough going in 2009.
QBSHI started construction for cruiseship building base
Junuary 2, 2009, according to municipal government of Yinghai town in Jiaozhou city, the construction of cruiseship building base of Qingdao Beihai Shipbuilding Heavy Industry will begin officially in Yinghai town industrial park with a total investment of CNY 50m (about USD 6.25m).
It is reported that the construction of the base will be completed by August 2010, the 1st construction cite will be about 4,000 square meters.
It will mainly produce cruiseships and shipbuilding equipments, the annual output value will amount to CNY 100m (about USD12.5m).
The 2nd construction is scheduled to be completed by the 2010 year-end, the annual output value will total CNY 300m (about USD 37.5m).
When entering into operation after the completion of the construction of shipbuilding base, it will resolve the employment problem for about 400 people in the local area and the imaginable income and tax revenue will aggregate CNY 30m (about USD 3.75m).
Qingdao delivered three vessels in 5 days
Qingdao Shipyard delivered a vessel each to China Communications Construction Company, China Petroleum Ocean Enineering, and China Oilfield Services Limited within 5 days of 2008 year-end.
Qingdao Shipyard has been approaching harmonious development of old and new plant areas, production, construction, and relocation while carrying out its development strategy, ‘relocation, reshuffling, and collaboration’.
It will try to open up international market by mainly developing large and medium military vessels, marine engineering vessels, and special liquefied gas carriers with constructing a shipbuilding base for special ships.
While newbuilding order drought is expected to continue in 2009, chief executives of South Korean major shipbuilders selected “Innovation and Challenge” as the management key words of this year.
Although the market is showing a severe slump, CEOs plan to convert this crisis into an opportunity with the spirit of challenge peculiar to Korean enterprises, business process innovation, cost reduction and new technology development such as ice-class ships.
Hyundai Heavy Industries President Choi Kil-seon stressed that management innovation is what should be done first. He laid emphasis on three things: improvement of ‘high cost’ structure / preparing countermeasures against fluctuations in foreign exchange rates and raw material prices / refrainment from unnecessary investment and preoccupation of new business opportunity.
HHI Vice Chairman Min Keh-sik demanded inefficient business routines be innovated and said radical reform is required as profitability in all business sectors is expected to sharply deteriorate in 2009.
Samsung Heavy Industries, the only shipbuilder which over-achieved the self-set order target last year among major shipbuilders, advocates “Creative Innovation and Challenge” as its 2009 management slogan. It plans to focus on three tasks: cost reduction / new technology development such as ice-class ship and wind power generating equipment / client satisfaction through security and quality improvement.
SHI President Kim Jing-wan said cost reduction is the utmost priority and SHI needs to preserve the market share in offshore sector such as drillship and LNG-FPSO while making inroads into ‘future’ businesses.
Daewoo Shipbuilding & Marine Engineering, although the negotiations are having a hard going regarding the sale of a 50.4% stake in it to Hanwha Group, it plans to achieve KRW13trn (USD9.8bn) of revenue this year and set its 2009 order target at more than $10bn for the fourth consecutive year.
DSME also aims to gain a dominant position in drillship and FPSO sectors after it has already attained superiority in LNG carrier and VLCC markets and plans to develop new technology such as ice-class ships.
STX Group placed emphasis on ‘aggressive foreign market exploitation’ and ‘strengthening the growth potential’, advocating “Challenge” as its 2009 management key word.
STX Chairman Kang Duk-soo particularly highlighted four sectors: offshore plant business such as drillship and FPSO / LNG carrier construction and LNG shipment / industrial plants such as power plant and oil refinery / development of energy resources.
South Korean shipbuilders are now leading the world shipbuilding industry but in order to change the current crisis into an opportunity, they need to face the newbuilding order slump with daring strategies.
Meanwhile, shipbuilders have usually announced their order target at the beginning of a new year but no shipbuilder has revealed its aim yet except DSME this year. Despite “Innovation and Challenge”, shipbuilding industry is forecast to face rough going in 2009.
QBSHI started construction for cruiseship building base
Junuary 2, 2009, according to municipal government of Yinghai town in Jiaozhou city, the construction of cruiseship building base of Qingdao Beihai Shipbuilding Heavy Industry will begin officially in Yinghai town industrial park with a total investment of CNY 50m (about USD 6.25m).
It is reported that the construction of the base will be completed by August 2010, the 1st construction cite will be about 4,000 square meters.
It will mainly produce cruiseships and shipbuilding equipments, the annual output value will amount to CNY 100m (about USD12.5m).
The 2nd construction is scheduled to be completed by the 2010 year-end, the annual output value will total CNY 300m (about USD 37.5m).
When entering into operation after the completion of the construction of shipbuilding base, it will resolve the employment problem for about 400 people in the local area and the imaginable income and tax revenue will aggregate CNY 30m (about USD 3.75m).
Qingdao delivered three vessels in 5 days
Qingdao Shipyard delivered a vessel each to China Communications Construction Company, China Petroleum Ocean Enineering, and China Oilfield Services Limited within 5 days of 2008 year-end.
Qingdao Shipyard has been approaching harmonious development of old and new plant areas, production, construction, and relocation while carrying out its development strategy, ‘relocation, reshuffling, and collaboration’.
It will try to open up international market by mainly developing large and medium military vessels, marine engineering vessels, and special liquefied gas carriers with constructing a shipbuilding base for special ships.
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