Ship Sales & Purchase
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2011-05-11 09:52:45

Samsung Heavy Industries Co., South Korea's No. 3 shipbuilder, said Monday that it has received a 691 billion won (US$639 million) order to build a floating oil production and storage vessel.
Under the deal with Teekay Petrojarl of Norway, Samsung Heavy will deliver the so-called floating production, storage and offloading (FPSO) vessel by July 15, 2013, it said in a regulatory filing.

2011-05-10 11:07:28

Orient Overseas (International) Ltd (OOIL) is splashing out $544m on a further quartet of 13,000 teu boxships from Samsung Heavy Industries (SHI). The 13,000 teu containerships are due to be delivered in 2013 and 2014. OOIL said it was currently arranging bank finance for the vessels and about 70% of the $544m order price would be covered by financing.
The company said the new vessels would improve its operating efficiency and profitability. The Hong Kong company ordered six similar vessels in March this year for $816m, also from SHI.

2011-05-10 09:40:07

 S & P

Due to various holidays in the Far East, it has been a quieter week in the Sale and Purchase market, however despite depressed freight rates levels of enquiry remain relatively high and we anticipate a number of sales in the forthcoming weeks.   A resale Kamsarmax M/V TSUNEISHI FUKUYAMA 1454 (82.100 dwt July 2011 blt Tsuneishi) reported sold to Greek interests for US$ 42m. In the Panamax sector, the Greek controlled M/V GEOSAND (74,432 dwt 2005 blt Hudong Zhonghua) is acquired from clients of Globus Maritime for US$ 31.4m including a 2 year charter back to the Sellers at region US$ 18,000 per day. In the Supramax sector we understand that the Wah Kwong controlled Diamond 53 type M/V SHANGHAI VENTURE (53,410 dwt 2007 blt Shanghai Chengxi) has been sold to IPO interests at a firm price in the region of US$ 26m. Not much to report in the tanker S+P market; The M/T EAGLE HOPE (73,965 dwt 2008 blt Onomichi, coated, ice 1A) has been sold to undisclosed European buyers for US$ 38.7m by way of sealed tender at Judicial auction.  


With Golden Week and National Holidays in both Japan and Korea this week - the market has been a little subdued in terms of activity in the Far East. Nevertheless - there continue to be reports of new business being concluded, with the container sector continuing to dominate the bulk of new orders in accordance with the broad trend of the year.

Whilst this interest in the container sector has been well received and assimilated by those yards with good Container experience - it has meant that shipyards have been forced to re-evaluate their existing position on Dry and Wet - and this has in turn lead to a more innovative drive to improve design concept and efficiency for both dry and wet sectors - in an attempt to re-invigorate interest in these sectors.

As a direct response, efficient ship designs have become an increasingly important factor in winning new business, especially in light of the continuing rise in bunker pricing and consequent operating costs. We continue to see the yards and design houses work to develop these new designs, in which improvements to Fuel consumption and efficiencies are being witnessed through new hull forms, utilising new engine types and many other innovations. As, or when, appetite returns to these sectors, it should be anticipated that the yards to have done the most in terms of developing these designs will be the ones best placed to benefit from any changes to the current demand cycle.

In terms or reported business; In Containers, Hanjin Subic are reported to have won an order from Zodiac Maritime for 4 option 2 vessels of their 6,600TEU container design with the vessels scheduled to deliver within 2013 and 2014. Zodiac are also reported to have signed a deal at Daewoo Mangalia for 4 option 4 vessels of 9,000TEU in size with the firm vessels again due for delivery within 2013 and 2014. SITC have also been busy and have increased their order for 1,100TEU containerships at Yangfan, originally 8 vessels signed last year to a total order of 10 + 6 units due for deliveries throughout 2013 and 2014 at a price in the region of USD18.1 Mill pre vessel.

In Dry, KC Maritime are reported to have signed 2 option 2 x 82,000dwt Kamsarmax Bulk carriers at Daewoo Mangalia set to deliver in 2013. Yangfan meanwhile have won more business, this time with Hongxiang for 2+2+2+2 x 205,000dwt Capesize bulkers to deliver from End 2012 and through 2013.

2011-05-09 10:40:20

South Korea's shipbuilders ranked No.1 in new order intake for three consecutive months, beating Chinese rivals last month.
According to Clarksons, South Korea's shipbuilders' new order intake reached 1,463,425cgt (40 ships) in April, accounting for 64% of the world's total new orders of 2,286,157cgt. They ranked No.1 in new order intake for three consecutive months, beating Chinese shipbuilders with new orders totaling 708,956cgt (42 ships).
Order values of the South Korean shipbuilders ($5.328bn), which acquired orders for high value added vessels such as large sized containerships and LNG carriers, was more than four times as much as those of the Chinese shipbuilders ($1.295bn).
South Korea's newbuilding orders totaling 4,906,495cgt (134 ships) as of April this year were well above the Chinese orders totaling 2,814,465cgt (148 ships). Therefore, South Korean shipbuilders have high chances of beating the Chinese rivals in new orders in the entire 2011.  
South Korean shipbuilders' accumulated new order intake accounted for 55% in the world's new order intake, outstripping the Chinese rivals (32%) during January-April. Also, South Korean shipbuilders' new order value, totaling $19.384bn, was well above Chinese rivals, totaling $5.185bn.      
In terms of order backlogs, gap between South Korea and China got narrow, too. In the beginning of this month, Korea accounted for 32.3% (43,321,019cgt, 1,467 ships) in the world's order backlogs, going up by 0.3% point, while China accounted for 38.4% (51,476,266cgt, 2,993 ships), going down by 0.1% point, compared with last month respectively.  
In terms of output, South Korea, which lost its No. 1 slot to the Chinese rival for the first time last year, rebounded a little last month. While Korea's ship deliveries accounted for 43.7% in the world ship deliveries, totaling 917,861cgt (26 ships) last month, China's ship deliveries only accounted for 25.7% with 538,744cgt (30 ships).
From January to April, in terms of accumulated ship deliveries, China's shipbuilders (5,075,121cgt, 310 ships) surpassed the Korean shipbuilders (4,674,027cgt, 154 ships).
"The number of new orders for vessels, Korean shipbuilders have competitive advantage in, such as large sized containerships, LNG carriers and offshore plants, are increasing.
This gives the Korean shipbuilders advantageous position in competing with Chinese rivals for orders which center on bulkers.", an official from the shipbuilding industry said.

2011-05-09 10:16:41

China's Yangfan Group has won capesize contracts from a sister company.  HongXiang Shipping, the shipping arm of Beijing Jianlong Heavy Industry Group has gone to Yangfan's Qingdao yard for up to eight capesize bulkers. It has booked two firm 205,000 dwt newbuildings at Yangfan Group for delivery at the end 2012 and early 2013 at prices of just over $50m a unit.  

2011-05-09 09:31:06

DSME subsidiary Daewoo-Mangalia Heavy Industries has received an order to build four kamsarmax bulkers, each weighing 84,000dwt, from Southeastern Asian ship owner KC Maritime.
The order also includes an option for two additional ships.
The vessels will cost around $40m each, according to
The company has also received orders for two bulkers of 82,000dwt from Greek ship owner Larus, and 2 bulkers from another ship owner, totalling 4 bulkers worth around $140m in the second half of last year.

2011-05-06 13:43:17

Last year, there were 3 new shipping exchange centers set up in China to better service its shipping industry. Now almost all the coastal provinces and cities have its own shipping exchange market in China, such as Qingdao, Fuzhou, Zhoushan those specializing in secondhand Chinese ships transactions and Chongqing engaging in Yangtze River ships exchanging. Among all these, Zhejiang shipping exchange market has become China’s biggest secondhand shipping exchange market and has officially got the membership of the Baltic Exchange.

Till now, China’s shipping exchange markets don’t deal with international ship transactions. They were set up in accordance with the policies and regulations of China’s Ministry of Transport to regulate domestic ship transactions. Those markets can exercise relevant functions such as dealing with some legal documents and providing invoice on behalf of the government.
China’s shipping exchange markets are gaining increasing business and market share these years. Gong Yinjian, chairman of Zhejiang shipping exchange market, said that the current business volume of the market is 40 times the amount of 1998 and 5 time that of 2003. He also pointed out that the transactions of Chinese secondhand ships focused on those of 1000-30,000DWT and ship types covered bulkers, containerships, tankers, passenger ships and fishing vessels, etc. Gong also indicated that they would keep a close eye on newbuilding market and consider setting up a trading platform for those medium and small shipyards and shipowners. At the same time, Fujian Bafang shipping exchange center also stated they would like to extend their business to newbulding market.
However, some people express their concerns over the potential contradiction between shipping exchange markets and shipbrokers which caused by growing trading centers and limited market. At present, shipbrokers can’t function properly in China’s ship S&P. As Liu Xunliang, secretary-general of the Shanghai Shipbroker Association (SSA), put forward that both ship evaluation and market information were in the charge of shipbrokers in the traditional shipping exchange market, however evaluation of ships has to be acknowledged by shipping exchange centers according to the new regulations.
As we know, many international shipbrokers don’t involve in Chinese vessel transactions, Gong also said that China’s shipbrokers could only blame the emerging shipping exchange centers for the current domestic situations. “Fairly speaking, shipbroker as an occupation in China is not that perfect and professional and these shipping exchange markets should be responsible for its future improvement to some degree. We could provide them with the platform to release trade leads and also will we verify the information to keep the market in order. However, the shipbrokers have to register firstly, both shipbroker companies and private shipbrokers”
Chinese government will certainly embrace the shipping exchange centers and the benefits they will bring. Many leaders from China’s Ministry of Transport such as Li Shenglin have visited Zhejiang shipping exchange market for many times and highly commended its excellent market function. It could be highly anticipated what the future of Chinese shipping exchange markets will be like.
Market Name
Establishment Year
Zhejiang Shipping Exchange Co., Ltd
China Secondhand Ship Price Index,ship transaction and registration
The Baltic Exchange Member
Shanghai Shipping Exchange
CCFI, CCBFI, ship transaction and registration
The Baltic Exchange Member
Dalian Shipping Exchange
Ship transaction and registration
Under construction
Tianjin International Trade and Shipping Service Center
Multiple service;TCI, TBI
Will be renamed as Tianjin Shipping Exchange
Qingdao Shipping Exchange Market
Ship transaction and registration
Chongqing Shipping Exchange
Plan to provide ship transaction and registration
Inland water transport
Fujian Bafang Shipping Exchange Center
Ship transaction and registration
2011-05-06 11:25:53

Havyard Global Solutions has signed a contract for the delivery of design and production drawings for the construction of a Havyard 832 CD platform supply vessel (PSV).
The hull of the ship is to be built at JSC Shipyard Zaliv, Ukraine, and complete outfitting of the ship will completed at another shipyard. 
The Havyard 832 design is a large to medium-size PSV that has been contracted by many shipowners in various editions. This is the twelfth Havyard 832 ordered so far.
The Havyard 832 CD has an LOA of 78.6 metres, beam of 17.6 metres, deadweight of 4,000 tonnes, deck area of 800m2 and speed of 15 knots.

2011-05-06 11:20:10

Norway's Statoil is sending out an invitation to tender for a new type of drilling rig.
Four Asian shipyards are in the running. Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering of South Korea, and Singapore’s Keppel FELS and Jurong Shipyard are pre-qualified for bidding for the rig construction contracts, Statoil said.
It is specially designed by the industry on behalf of Statoil for mature fields on the Norwegian continental shelf (NCS).
The purpose is to make drilling and completion of production wells less expensive, more effective and safer, and thereby boost oil recovery.
The specially-designed category D rig is able to operate at water depths of 100-500 m and drill wells down to 8,500 m. It will be a workhorse on mature fields, primarily for drilling production wells and well completion.
"Discoveries on the NCS are getting smaller and it is becoming more important to increase drilling activity in mature fields to attain the full potential of the NCS," says Statoil. "The key to maintaining today’s production level on the NCS towards 2020 is improved recovery from existing fields and fast and effective development of new fields. In order to implement these measures it is crucial that we secure a rig fleet which is adapted to suit the assignments and which can work more effectively."
Statoil has therefore developed a new mobile offshore drilling unit concept, cat D. This rig will be customized for year-round production drilling in mid-water depths. The goal is that the new rig will perform operations 20 percent more effectively than conventional rigs.
Hull designers, topside suppliers, construction yards and drilling contractors have participated in the development of the cat D rig concept.
Statoil’s key focus is on safety and production. This rig category is designed to prevent falling objects and it has high reliability in well control systems. It is also designed to prevent environmental spills and assure improved working environment.
In the market process for cat D, Statoil is asking for offers for a 8-year firm contract period, including options for 4x3 years, and 20-year firm contract period for the rigs; a long term sourcing approach, securing rig capacity fit for Statoil’s growth ambitions as well as securing predictability for the drilling contractor.
Rig entrepreneurs with operational experience on the NCS have been invited to tender for minimum two rigs, based on the cat D design specially-designed by the industry on behalf of Statoil. The invitation to tender (ITT) was sent out to the prequalified rig entrepreneurs on February 21, with planned contract awards in the third quarter of 2011.
To reduce risk and secure yard capacity when the contracts are awarded, Statoil has reserved slots at four construction yards that have the proven construction record Statoil requires to be able to build the rigs within the expected delivery time:
Daewoo Shipbuilding & Marine Engineering (DSME) - South Korea
Samsung Heavy Industries (SHI) - South Korea
Keppel FELS Ltd. - Singapore
Jurong Shipyard Pte. - Singapore

Invitation to tender (ITT) Q1, 2011
Contract award to drilling contractor Q3, 2011
Delivery of units to well location on NCS 2nd half of 2014

2011-05-06 10:45:07

MISC Berhad has sold a 20-year-old liquefied petroleum gas (LPG) carrier at a price of $2.95m to PT Pelayaran Usahagas Elpindo. MISC confirmed the sale of its 1991-built, 2,200 cubic metres carrier Pernas Butane on Thursday. “The sale is in line with MISC's asset management strategy to phase out old tonnages and maintain a modern fleet,” the Malaysia-based company said in a statement.

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