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GasLog: New Shipbuilding Order with SHI
GasLog , an international owner, operator and manager of liquefied natural gas (LNG) carriers, has announces that it has ordered a newbuild 180,000 cubic meter vessel…
South Korean Shipyards Aim More Orders
South Korean shipyards have sharply raised their order targets for next year on expectations that the shipbuilding sector will improve, Yonhap reported. The country's…
Ocean Yield to Invest in Modern Vessels
Ocean Yield ASA is currently in negotiations regarding further investments in modern vessels with long term charters, said the company. In a press release, Ocean…
Samsung Heavy Bags USD 197 Mln LNG Carrier Order
South Korean shipbuilder Samsung Heavy Industries (SHI) has bagged a KRW 210 billion (USD 195 million) deal, for construction of an liquefied natural gas (LNG) carrier.
KNOT Offshore Acquires Brasil Knutsen
KNOT Offshore Partners LP announced that its wholly owned subsidiary, KNOT Shuttle Tankers AS, has acquired all of the ownership interests in KNOT Shuttle Tankers 32 AS…
Samsung Heavy Industries Replaces CEO
South Korea’s Samsung Heavy Industries named Joonou Nam as its new chief executive officer on Monday after Park Dae-young resigned to take responsibility for the firm’s losses.
Ocean Yield Invests in 3 NAT Suezmaxes Newbuilds
Ocean Yield ASA has agreed to acquire three suezmax crude tankers with 10-year bareboat charters to Nordic American Tankers Limited (NAT). The net purchase price…
Teekay Orders Additional Shuttle Tanker Duo
Teekay Offshore Partners L.P. has declared options with Samsung Heavy Industries Co., Ltd. for the construction of two Suezmax DP2 shuttle tanker newbuilds for…
A Sea Change for Shipbuilding
![](https://images.marinelink.com/images/maritime/w200h200c/-79924.jpg)
When it comes to shipbuilding, the numbers are staggering: hundreds of millions of parts in one aircraft carrier. Billions of dollars proposed for Naval fleet development in the latest NDAA. Hundreds of thousands of private sector jobs in the U.S. alone. A 2015 MARAD report, for example, pegged the total economic impact associate with the industry at 400,000 jobs, $25 billion in labor income, and 37 billion in GDP (based on data from 2013).
BW Group, Mitsui Form FSRU Joint Venture
![FSRU BW Integrity is on charter to provide LNG regasification services at Pakistan’s second LNG import terminal for 15 years (Photo: Mitsui & Co.)](https://images.marinelink.com/images/maritime/w200h200c/fsru-bw-integrity-is-on-79733.jpg)
A joint venture agreement between Japan’s Mitsui & Co. and Singapore’s BW Group Limited will see Mitsui purchase a 49 percent share in the floating storage and regasification unit (FSRU) BW Integrity, while BW will maintain a 51 percent share. The deal is expected to close as soon following payment for the acquisition. BW Integrity is currently in Port Qasim on a 15-year charter to PGP Consortium Limited (PGPC), to provide LNG regasification services at Pakistan’s second LNG import terminal.
Samsung Heavy's Profit Down 82%
South Korean shipbuilder Samsung Heavy Industries (SHI) said that net profit for the third quarter of 2017 was down 81.8% year on year to KRW23.4 billion (USD20.44 million)…
Teekay’s New Shuttle Tanker Delivered
![Beothuk Spirit is the first of three new Canadian flagged shuttle tankers built by Samsung Heavy Industries for Teekay Offshore (Photo: Teekay Offshore)](https://images.marinelink.com/images/maritime/w200h200c/beothuk-spirit-is-the-first-79385.jpg)
Teekay Offshore said it has taken delivery of Beothuk Spirit, the first of three new shuttle tankers to serve East Coast Canada, built in Korea by Samsung Heavy Industries. Heritage Class sister vessels Norse Spirit and Dorset Spirit are scheduled for delivery in the first half of November 2017 and early-2018 respectively. The three Suezmax, DP2 shuttle tankers will provide crude transportation services to the Hibernia, Terra Nova, White Rose and Hebron offshore oil fields located in St.
Are South Korean Shipbuilders Back from the Abyss?
![(Photo: Samsung Heavy Industries)](https://images.marinelink.com/images/maritime/w200h200c/photo-samsung-heavy-industries-79353.jpg)
Sparks light up the night-shift at giant shipyards on Korea’s southeast coast, as welders and fitters at some of the world’s biggest marine engineers forge next-generation container ships, oil rigs and even ice-breaking tankers in a bid to clamber out of a global industry abyss. Sunk by drastic cuts in orders from customers hit by the 2008 financial crisis, South Korea’s shipping landscape has been littered with bankruptcies and billion-dollar losses.
BMT Bags Contracts from Samsung Heavy Industries
![(Image: BMT)](https://images.marinelink.com/images/maritime/w200h200c/image-bmt-79321.png)
BMT Group’s fleet and vessel performance management company BMT SMART said it has secured a contract with shipbuilder Samsung Heavy Industries (SHI) to supply vessel performance monitoring systems for four very large crude carriers (VLCC) being built for a Greek ship owner. This latest contract comes on the back of current orders already received from SHI for seven vessels (Suezmax and Aframax tankers) for Norwegian and Singapore owners, BMT said.
Egina FPSO Leaves SHI's Geoje Shipyard
Samsung Heavy Industries (SHI) successfully completed Geoje-shipyard portion of the world's largest sized Egina FPSO. The gigantic floater left for Nigeria on 31th October 2017.
GTT Bags Samsung Heavy Order for FSRU
GTT, leading engineering company in containment systems for the shipping and storage in cryogenic conditions of LNG (liquefied natural gas) announces a new order…
Shuttle Tankers - Safe, Flexible, Efficient
Shuttle tankers are an alternative to subsea pipelines. Typically for large water depths. For harsh weather operation the use of shuttle tankers is a necessity.
Dim Q3 Forecast for Korean Shipyards
South Korea's major shipyards are projected to report weaker-than-expected earnings for the third quarter of the year, due to increased costs and the construction…
Smart Ships: Inmarsat, Samsung Heavy Industries Partner
![Ronald Spithout, Inmarsat Maritime President (Photo: Inmarsat)](https://images.marinelink.com/images/maritime/w200h200c/ald-spithout-inmarsat-maritime-president-77548.jpg)
Satellite communications services provider Inmarsat said it has signed a Memorandum of Understanding (MoU) with shipbuilder Samsung Heavy Industries (SHI), establishing a relationship to leverage the ‘smart ship’ connectivity offered by Fleet Xpress at the vessel construction stage. The agreement envisages the South Korean yard installing Inmarsat-approved terminal hardware and offering applications to cover remote machinery diagnostics and CCTV services…
Wärtsilä Re-liquefaction Plants Ordered for Newbuild LNG Carriers
![Photo: Wärtsilä](https://images.marinelink.com/images/maritime/w200h200c/photo-wrtsil-77446.jpg)
Wärtsilä said it has been awarded contracts to supply its re-liquefaction plants to three new LNG carriers currently under construction. One ship is being built at the Samsung Heavy Industries (SHI) yard in South Korea for the international owner and operator Gaslog. The others are for Norway based Knutsen and are being built at the Hyundai Heavy Industries (HHI) yard in South Korea. The order was booked for the Gaslog ship in April 2017 and for the Knutsen ships in May/June 2017.