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Discussion Starter · #1 ·
DSME Scores First Order in 2009
Maeil Business Newspaper & mk.co.kr

Korea`s Daewoo Shipbuilding & Marine Engineering (DSME) won a new order in ten months since August last year. According to sources from foreign press and the shipbuilding industry on June 25, a European ship owner awarded an order to DSME and both sides will convene within the week to ink the new deal.

The ferry is estimated to cost around $100 million per vessel. Although the deal has not yet been finalized, it is highly likely that the ship owner will order two vessels worth approximately $200 million.

The latest deal will save DSME from a dry spell of new orders as it failed to win any new orders after winning a new order to build four very-large crude carriers (VLCC) August last year in spite of the company having the second or third most order backlogs in the world. DSME won a new order early June to build a $45 million barge from the Netherland-based Hereema Marine Contractors but the deal was far from being considered as a commercial vessel contract. Prior to the new order, DSME also won a $75 million submarine overhaul project from Indonesia at the end of April, which cannot be labeled as a ‘new order’ either.

The ferry is a high added-value vessel which requires highly sophisticated technical skills. In terms of the contract, the deal is the biggest in the domestic market after Samsung Heavy Industry’s $680 million LNG-FPSO.

[Yen-mi Hong/ JYJ]
 

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Discussion Starter · #2 ·
HHI Eyes on Making Inroads into Eco Ballast Market Worth $19.4 Billion

Maeil Business Newspaper & mk.co.kr

Hyundai Heavy Industries (HHI) made a full-fledged advancement into a market scaled at 25 trillion won (or roughly $19.3 billion) by unveiling a new device named ‘Eco Ballast,’ an eco-friendly device that purifies ballast water.

HHI disclosed on June 23 that it succeeded in constructing Astrid Schule, a 7,000 TEU-level (1 TEU is equivalent to approximately one 20-feet container) containership equipped with the device called ‘Eco Ballast,’ a system that is capable of purifying ballast water.

The ballast water device is being chosen as the shipbuilding industry’s ‘Blue Ocean,’ which refers to a market with enormous growth potential and no fierce competition.

Ballast water refers to purifying sea water loaded into vessel tanks in order to generate maximum efficiency and speed and to sustain the balance of the vessel while offering a shipping service. Should there be freight on ships, the tank then needs to be either emptied or be filled with a low volume of seawater, on the other hand, should there be no freight on ships, the method is to fill the tank with high capacity of seawater.

The problem is that the ballast water is a serious cause of marine pollution. The latest device called ‘Eco Ballast,’ developed by HHI, holds significance in that it is a discharge installation that purifies the ballast water, which had been dumped on the sea until now.

The International Maritime Organization (IMO) said that it will become a mandatory requirement to install a ballast water purification device in every vessel to be constructed from 2012. By making it a compulsory requirement for all existing vessels to be equipped with the purification device by 2017, the scale of ballast water purification device market is expected to reach close to 25 trillion won (or roughly $19.3 billion).

[Hee-kyung Son / JYJ]
 

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Discussion Starter · #3 ·
Glovis to Penetrate into Marine Industry
Maeil Business Newspaper & mk.co.kr

Glovis Co., an affiliate of Hyundai-Kia Automotive Group, is set to enter into the marine business.

According to industry insiders on Tuesday, Korean logistics firm Glovis plans to respectively purchase two vessels of secondhand ship with a capacity of 4,000 vehicles and one vessel of second hand ship with a capacity of 6,000 cars and transfer them on July 1. Glovis is expected to transform into a comprehensive marine enterprise via placing orders on two or three vessels of ships used for transferring automobiles sooner or later. The annual scale of Hyundai-Kia’s export car transportation business is conveyed to reach 1 trillion won (or about $786 billion) at the maximum.

The latest move implicates Hyundai-Kia’s intention to shift Glovis’s original transportation method of entrusting transportation to other shipping companies, leaving Glovis only as a ship owner through ship leasing. Glovis aims to firstly ship 20 percent of Hyundai-Kia’s export volume and expand the portion to more than 50 percent by 2015 with a yearly increase of 10 percent.

Hyundai Merchant Marine Co. (HMM) had been shipping the entire volumes of Hyundai-Kia’s export vehicles until 2002. However, with Hyundai Group stumbling under capital squeeze, the group sold its auto shipping business and 40 vessels to an overseas company, and 80 percent of stakes in HMM to Eukor Car Carriers invested by Norway’s Wilhelm.

Glovis expects to yield 4.2 trillion won in combined domestic and overseas sales this year, and has recorded the highest growth among the entire newly launched affiliates with an annual growth of 20-30 percent since its establishment in 2001.

[Eun-jung Kim / JYJ]
 

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Discussion Starter · #4 ·
S. Korea Develops New Anti-Submarine Torpedo
06-22-2009 20:25
By Jung Sung-ki
Staff Reporter
[email protected]
www.koreatimes.com



The state-funded Agency for Defense Development (ADD) announced Monday it has completed the development of a precision-guided light torpedo that can travel about 20 kilometers in the air before dropping into waters to track and destroy a target.

The Navy's KDX-II/III destroyers will be equipped with anti-submarine missile, or Hongsangeo (Red Shark) torpedo beginning next year as part of efforts to beef up the country's naval defense against North Korea, ADD officials said.

``The successful development of the Hongsangeo-guided missile system has laid the groundwork for developing the South Korean Navy's anti-submarine operational capability to a world-class level,'' Bae Yeon-sook, program manager of anti-submarine missile at ADD, told reporters.

The development of a ship-based vertical launch system will also help facilitate the operations of other naval guided missiles systems in the future, Bae said.

The 5.7-meter Hongsangeo rocket, similar to the U.S.-made Vertical Launch Anti-Submarine Rocket, or VLA, comes after nine years of joint development with LIG Nex1, a leading South Korean missile developer, he said, adding about $80 million was spent to develop the rocket,

The ADD and LIG Nex1 already developed the conventional Cheongsangeo light torpedo and Baeksangeo heavy torpedo.

North Korea operates far more submarines than South Korea, with about 70.

The two countries remain technically at war after the 1950-53 Korean War ended in a truce. North Korea has recently threatened an armed conflict around the two countries' western sea border where skirmishes turned deadly in 1999 and 2002.
 

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Discussion Starter · #5 ·
S. Korea's 1st icebreaking ship launched
2009.06.11 15:34

An image showing the 6,950-ton icebreaker Araon, developed and produced by Hanjin Heavy Industries and Construction Co. in a first for the the local industry, as it is launched at a shipyard in Busan, the country's largest port city, on 11 June 2009. It is South Korea's first such self-made vessel. EPA/YONHAP
 

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Discussion Starter · #6 ·
More Info on Araon: http://www.globalsecurity.org/military/world/rok/araon.htm

Araon - Korea Icebreaker
Korea has a particular interest in understanding the Arctic environment with its potential for change because highly industrialized countries reach into high northern latitudes and Asia is under the steady influence of and in exchange with the Arctic environment. Korea would like to be involved in the big pictures and to contribute during post-IPY period.

The Korea’s icebreaker (Araon), which is scheduled to be completed by the end of 2009, is 6,950-ton icebreaker and designed for operation in one-meter-thick-multiple-year ice condition (KR PL-10) with 3 knot speed per hour and will be equipped with twin Azimuth propulsion units driven by diesel-electric propulsion plant. She will accommodate up to 85 persons, including 25 crew members. New ice breaking research vessel; >100 M OL, 70 day endurance, Multi-disciplinary research capabilities; oceanographic, geophysical, and labs.

Following a circumspective feasibility test in 2003, the basic design and general arrangement of a vessel had been produced in 2004 and 2005, respectively. At the beginning 2007, Hanjin Heavy Industry, Inc. won the contract for constructing an icebreaker ship and a steel-cutting ceremony was held in Jan. 2008.

After keel-laying in May of 2008 and launching and delivery in 2009, she is planned to be commissioned for scientific research and logistic purposes in both Antarctic and Arctic regions. Korea expects that the icebreaker ship would enhance the capability of conducting scientific research in polar regions with upgraded efficiency and quality. Korea is operating one “over-wintering” station, the King Sejong on King George Island in the Antarctic, and also has research facilities, the Dasan, in NyAlesund, Svalbard Islands in the Arctic. In November 2008 the Korean Polar Research Institute (KOPRI) release its plan for its new ice breaker the Araon.
 

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Discussion Starter · #7 · (Edited)
Samsung JV to build shipyard in Russia
Maritime News
June 26, 2009

According to a Russian media report on June 19th, Samsung Heavy Industries of South Korea has signed an agreement of technical cooperation with United Industrial Corporation (OPK) of Russia to construct a new shipyard in St. Petersburg.

They are reportedly planning to build a new shipbuilding facility in the shipbuilding complex in northern area of St. Petersburg.

At the same time, the two companies are also preparing to establish a joint venture enterprise to participate in the LNG project of Gazprom, Russia’s state-owned natural gas giant.
 

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Discussion Starter · #8 ·
S. Korea to acquire new missiles for Aegis destroyer

2009/06/28 09:25 KST
http://english.yonhapnews.co.kr/

By Lee Joon-seung
SEOUL, June 28 (Yonhap) -- South Korea plans to acquire 40 new surface-to-air missiles within the month for its Aegis destroyer, a military source said Sunday.

The government source, who declined to be identified, said all of the U.S.-made Standard Missile-2s (SM-2) will be loaded on to the 7,600-ton King Sejong the Great destroyer.

The 166-meter-long ship, equipped with a phased array SPY-1D radar, can track up to a thousand targets simultaneously at a range of 500km and intercept threats from up to 150 km away. It has been used to detect long-range ballistic missiles fired by North Korea that were 1,000 km away.

The destroyer is currently the largest surface combat vessel in the South Korean Navy and can carry up to 80 SM-2s in vertical launch systems. It is also armed with locally made anti-ship missiles, a 127mm cannon, 30mm Goalkeeper close-in-weapons systems and lightweight, rolling airframe missiles.

The 40 SM-2s, which will arrive by the end of June, are extended-range models and can hit targets up to 160km away. They will allow the South Korean ship to fully use its advanced detection, tracking and attack capabilities, the source said.

The missiles are the main anti-aircraft munitions used by the U.S. Navy and have evolved over the years to deal with threats coming from various altitudes and those equipped with advanced electronic counter measures. They may also be used against ballistic missiles.

Related to the missile purchase, the U.S. government in May notified lawmakers that it has authorized the sale of 46 SM-2 Block IIIA and 35 Block IIIB missiles to South Korea under the foreign military sales arrangement.

The military source said that Seoul is looking to acquire next-generation Extended Range Active Missiles, also known as the SM-6 system, from Washington along with Patriot-3 (PAC-3) missiles by 2014. The PAC-3s can be deployed at sea and are designed to intercept ballistic missiles.

[email protected]
(END)
 

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Discussion Starter · #10 · (Edited)
http://www.upi.com/Business_News/2009/07/01/S-Korean-shipbuilding-industry-hit/UPI-83761246421765/

S. Korean shipbuilding industry hit

Published: July 1, 2009 at 12:16 AM

SEOUL, July 1 (UPI) -- South Korean ship builders have been hit hard by the global economic slowdown as new orders plunged in 2009 first half, industry sources told Yonhap.

The slump has hit South Korea's leading shipbuilders, the South Korean news agency reported.

The three major shipyards received combined orders of only $1.23 billion in the first six months of this year, compared with $34.1 billion in the same period of last year, Yonhap said.

© 2009 United Press International, Inc. All Rights Reserved.
 

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Discussion Starter · #11 ·
http://news.xinhuanet.com/english/2009-07/01/content_11634403.htm

"World's largest" shipyard opens in NW China coastal city

www.chinaview.cn 2009-07-01 16:41:18

SHENYANG, July 1 (Xinhua) -- A shipyard that has laid claim to be the largest in the world in terms of physical size began operation Wednesday at Changxing Island in Dalian, a coastal city in northeast China's Liaoning Province.


A shipyard that has laid claim to be the largest in the world in terms of physical size begins operation Wednesday at Changxing Island in Dalian, a coastal city in northeast China's Liaoning Province.(Xinhua Photo)

STX (Dalian) Shipbuilding Co. Ltd., a subsidiary of the STX Group from the Republic of Korea (ROK) and the investor of the project, said the boatyard was now the largest in the world in terms of physical area. The firm did not reveal the cost of the yard.

Used for final assembly of big ships, the yard is 460 meters long, with a width of 135 m and a height of 14.5 m. It is able to accommodate two ships each with a dead weight tonnage of 320,000 tonnes to be built simultaneously, said the company.

The former largest shipyard in the world in terms of physical size was built by ROK-based Hanjin Heavy Industries in the Philippines. The Dalian boatyard is 1 m longer and 1 m wider than its Filipino counterpart, the STX (Dalian) Shipbuilding said.

STX Group, the fourth largest shipbuilding company in the world in terms of orders received, started to invest in Changxing Island in 2006 and has since increased its investment there to 13.4 billion yuan (1.96 billion U.S. dollars).


Editor: Fang Yang
 

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Discussion Starter · #12 ·
STX Pan Ocean, First to Advance into Overseas Grain Terminal Industry

STX Pan Ocean Co., the country’s biggest bulk carrier, disclosed on June 2 of pursuing a joint construction of grain terminal together with U.S.-based global food and agribusiness chain Bunge North America and Japan-based Itochu Corporation at the Port of Longview along the west coast of the U.S.

It has been reported that Bunge, Itochu and STX Pan Ocean will invest 51 percent, 29 percent, and 20 percent respectively in the latest joint-construction project worth more than $200 million. The venture-company will begin the construction of a storage facility, a rail loop track unloading system, a quay, and an unloading facility from this month to be completed by the autumn of 2011.

Construction of the new terminal is the first since the early 1980 which is expected to facilitate processing speed of logistics compared with the existing terminal.

STX Pan Ocean will be the first in the industry to generate profits in unchartered water of grain terminal project.

“STX Pan Ocean is a first in the industry to advance into the overseas grain terminal project which had long been dominated by leading agribusiness companies- Bunge Corporation and Cargill- and Japanese general trading company,” and added, “The company sees this as an opportunity to fortify its grain transportation business and enhance efficiency of operating vessels in the west coast,” commented an official at STX Pan Ocean.

[Yen-mi Hong/ JYJ]

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]

06-02, 2009 16:12:01
http://news.mk.co.kr/english/newsRead.php?rss=Y&sc=30800011&year=2009&no=311213

--------------------------------------------------------------------------------------
STX Pan Ocean's US unit setting up grain elevator-related joint venture
By Irene Chan, Channel NewsAsia | Posted: 02 June 2009 1938 hrs

SINGAPORE: Singapore-listed STX Pan Ocean said its US unit is setting up a grain elevator-related joint venture with Bunge America and Itochu Group.

The venture is valued at US$200 million.

STX will take a 20 per cent stake while Bunge will be the majority shareholder with a 51 per cent interest.

Itochu will own the remaining 29 per cent stake of the firm.

Grain elevators are storage areas that are used to house grain and prepare it for eventual shipment.

The joint venture will be headquartered in Portland, Oregon.

It will start construction of new facilities for its grain elevator business this month.

The business will have an annual capacity of eight million tons of grain per year when it starts operations in 2011.

STX said the joint venture will strengthen its core business in grain shipping as well as improve its operational efficiency in the US. - CNA/vm

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/433387/1/.html
 

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Discussion Starter · #13 ·
http://search.japantimes.co.jp/cgi-bin/nb20090701a5.html


Wednesday, July 1, 2009


South Korea-Japan-Russia ferry service debuts

TOTTORI (Kyodo) A South Korean ferry arrived Tuesday at the port of Sakai in Sakaiminato, Tottori Prefecture, inaugurating a new cargo-passenger route linking the city with Donghae, South Korea, and Vladivostok, Russia.

The 14,000-ton Eastern Dream, which left Donghae on Monday, is scheduled to leave Sakai on Wednesday to first return to Donghae and then head to Vladivostok.

The ship, operated by DBS Cruise Ferry can carry about 450 passengers plus cargo.

The new service was originally planned to start in April but was delayed due to the global economic crisis.

Tottori plans to use the new service to export sake and watermelons, and hopes for an inflow of South Korean and Russian tourists wanting to visit "onsen" hot-spring resorts and sample the local cuisine.

The prefectural government said it hopes the new shipping service will generate ¥10 billion in the local economy through trade and passenger traffic.

It said it expects to make the port of Sakai a gateway to Northeast Asia through the new service.

According to Yonhap News Agency, a 90-member South Korean delegation was aboard the inaugural cruise, among them senior officials and assembly members of the Gangwon provincial and Donghae municipal governments.

Tottori Gov. Shinji Hirai and Sakaiminato Mayor Katsuji Nakamura are scheduled to board the Eastern Dream on Wednesday.
 

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Discussion Starter · #14 ·
S Korea, Japan to hold joint naval exercise

www.chinaview.cn 2009-06-30 17:29:12 Print

SEOUL, June 30 (Xinhua) -- South Korea and Japan will hold a joint biennial naval exercise in the East Sea starting this week, the South Korean Navy said Tuesday.

According to the navy, the Search and Rescue Exercise (SAREX) will be held in the waters near the South Korean islets of Dokdo and the Japanese Oki Islands from July 2 to 10.

During the exercise, the two nations' destroyers, helicopters and aircraft will be deployed.

The exercise is scheduled to end with ceremonies designed to promote the relations between the two navies, the South Korean navy said.

The exercise was first started in 1999 to enhance military ties between the two neighboring nations.

Editor: Fang Yang

http://news.xinhuanet.com/english/2009-06/30/content_11627636.htm
 

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Discussion Starter · #15 ·
S. KOREAN COMPANY TO BUILD FLYING SHIP MANUFACTURING PLANT

SEOUL, Jun 25, 2009 (AsiaPulse via COMTEX) -- A South Korean company plans to build the world's first large-scale commercial flying ship plant, the government said Thursday.

The plant, to be built by Wingship Heavy Industries, will cover 43,000 square meters of land at the Gunsan Free Trade Zone located 274 kilometers south of Seoul, with the company aiming to produce 12 so-called wing in ground effect craft (WIG) every year starting in 2012, the Ministry of Knowledge Economy said.

WIG ships can fly 1-5 meters off the water's surface and can reach speeds of up to 300 kilometers per hour. Such vessels use the natural lift created by an object traveling at high speeds close to the water.

They are slower than passenger jets but are much faster than conventional commercial ships whose max speed usually does not surpass 40 kilometers per hour. South Korea started work on these flying ships in 1995 and successfully tested four-person and 20-person prototypes in 2001 and 2007 respectively.

The company that received funds from Daewoo Shipbuilding and Marine Engineering Co. and the government plans to invest 4.73 billion won (US$3.67 million) this year in the building effort. Most state funds are centered on research and development.

The first ships to be built will be capable of carrying 40 passengers with larger craft able to carry more than 350 people being planned down the road. Such ships will have the cargo carrying capacity of existing jumbo jets like the Boeing 747.

"Because of their speed, these craft can reach most South Korean islands, including Jeju, from the mainland within an hour and can ferry passengers and cargo to many Japanese and Chinese ports within three hours," a ministry official said.

He pointed out that because WIG ships need not climb several kilometers into the air, they use less fuel than planes and are safe because they can land on the water quickly if they experience mechanical problems.

"WIGs promise to become a clean, fast and safe way to travel short- and medium distances over water," the official said.

Wingship Heavy Industries, meanwhile, said that once production begins in earnest in 2012 it expects to sell 60-70 craft in the following five years that can generate sales exceeding 600 billion won per year.

Of the total, 20 ships may be sold in South Korea with 40-50 WIGs being exported, the conpany said.

(Yonhap) cg
http://news.tradingcharts.com/futures/6/0/126053206.html
 

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Discussion Starter · #16 ·

a small, four-seat S. Korean WIG ship.




a 20-seat S. Korean WIG ship.


a large-sized wig craft to be developed.
 

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Discussion Starter · #17 ·
Yacht and Boat Korea 2009 in Korean Ship building capital

http://www.marinebusinessnews.com/Yacht-and-Boat-Korea-2009-in-Korean-Shipb-building-capital/58530


'Goseong is known as the ’Land of the Dinosaurs’ for its ancient remains, but will host the Korea Yacht & Boat in the most modern facilities in the region.'

The third Yacht and Boat Korea event in the leading shipbuilding province of Gyeongsangnam in South Korea is expected to attract 150 companies from 20 countries from 29 October to 1 November 2009.

Encompassing a four-day boat show at Danghangpo (Danghang Port) and the 3rd Admiral Yi Soon-Shin Cup International Yacht Race at Tongyeong Donam Port zone, last year’s event drew 10,000 people. Both events are situated close to the city of Goseong which is easily accessible by air, road or rail from Seoul or the city of Busan.

'The Korean government has placed a substantial effort in creating an improved trade and investment climate which has brought real GDP growth of 4.1 per cent for 2008,' said International Marketing Consultant Barry Jenkins. This follows robust growth of 5 per cent in 2007.

The province of Gyeongsangnam occupies 10.6 percent of the country, the fourth largest province, with 1019 shipbuilding firms employing more than 91,400 workers. Government policies are in place for the creation of 10 marina projects while 23 newly-designated shipbuilding sites are within the province.

'Provincial governor Taeho Kim supported the creation of the event to further the tourism and marine industry growth in the region,' said Mr Jenkins.

In keeping with this strategy, Yacht and Boat Korea 2009 has entered into a co-operative agreement with Sanctuary Cove in Australia, the successful creators of the world-renowned Sanctuary Cove International Boat Show, to assist with the event’s international development.

Mr Jenkins was general manager for Sanctuary Cove International Boat Show for many years and now works in international relations and special events for Sanctuary Cove. Australian PR company Kate D Enterprises has been contracted to further extend international publicity for the upcoming Show.

The inaugural Yacht Korea Show in 2007 drew a modest 70 exhibitors with visitors from Korea, Japan, Taiwan, Malaysia, the US, Europe and Australia. For 2009, the organisers aim to attract 150 exhibitors, particularly increasing international company representation. The event’s name also changed this year to Yacht and Boat Korea.

The boat show features leisure boats and yachts, engines, marine equipment and cultural displays with pavilion, open-air and marina displays .

In 2009, the show’s location has moved from a convention centre to the city of Goseong to leverage off plans to develop the region into a recreational marine hub in 2010.

'The South Sea coastal region of South Korea, Namhaean offers pristine waters, deep waterways and is strategically located close to Asian economic giants such as China and Japan,' said Mr Jenkins. Other advantages include calm weather and scenic islands for cruising.

'Yacht and Boat Korea 2009 will be staged at the newly-opened Goseong Dinosaur Park, a major tourism attraction which has drawn more than 1.7 million visitors over four months since opening in March this year.

'The event will also offer an educational aspect to the emerging affluent Korean domestic market on the lifestyle benefits of recreational boating,' said Mr Jenkins.

Gyeongsangnam province is located in the southern eastern end of the Korean peninsula with a population of more than 3.13 million. The coastline of more than 2000km encompasses a national marine park.

Leading world brands have industries located in the region including Samsung Heavy Industries Co, Daewoo Shipbuilding Co, LG Electronics plant, Sony Korea Co and Korea Aerospace Industries.

The Republic of Korea (South Korea) has signed free trade agreements with 16 countries including Singapore, ASEAN, the US and the European Free Trade Association.

The exhibition is staged by GnA International Co Ltd based in Changwon.

For details on application forms and the downloadable exhibition kit view www.yachtkorea.or.kr



by Kate Duryea 7:10 AM Thu 2 Jul 2009 GMT
 

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Discussion Starter · #18 ·
S.Korean shipyards to share Petrobras deals-STX

http://in.reuters.com/article/oilRpt/idINSEO21356920090702

Thu Jul 2, 2009 8:45am IST

SEOUL, July 2 (Reuters) - Shipbuilding and shipping conglomerate STX on Thursday said it expected top South Korean shipyards to jointly win offshore project orders from Brazil's Petrobras, a major opportunity for the downturn-hit shipbuilding sector.

Leading domestic shipbuilders will share the Petrobras projects as the orders are too large for any single company to handle, said Kang Duk-soo, chairman of STX Corp (011810.KS: Quote, Profile, Research).

Kang's comments, made at a local business event, were confirmed by a company spokesman.

Petrobras (PETR4.SA: Quote, Profile, Research) (PBR.N: Quote, Profile, Research), Brazil's state-run oil company, is expected to soon issue large tenders for offshore oil development vessels, including drillships and floating product storage and offloading units.

In April, Petrobras executives visited South Korea and held individual meetings with shipbuilders on vessel orders worth a totoal $25 billion-$30 billion. Of the total, $15 billion would be for drillships and semi-submersibles to be awarded this year.

Korean shipmakers in talks with Petrobras include Hyundai Heavy Industries (009540.KS: Quote, Profile, Research), Samsung Heavy Industries (010140.KS: Quote, Profile, Research), Daewoo Shipbuilding and Marine Engineering (042660.KS: Quote, Profile, Research) and STX Offshore & Shipbuilding (067250.KS: Quote, Profile, Research) -- the world's four largest shipyards.

Separately, Kang said STX Group's shipping unit STX Pan Ocean (028670.KS: Quote, Profile, Research) was likley to post a profit in 2009, after a turnaround in the second half.

Shipping companies including STX Pan Ocean, the world's No.5 dry bulk carrier, have suffered from low freight rates and weak global trade amid the economic downturn. (Reporting by Rhee So-eui; Editing by Chris Lewis)


© Thomson Reuters 2009 All rights reserved
 

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Discussion Starter · #19 ·
Source: http://www.marinebusinessnews.com/Aussie-companies-see-potential-on-Koreas-southern-coast/58671

Aussie companies see potential on Korea's southern coast

'John Hogan takes the stage at KIBS.'

Fresh from success at the Korea International Boat Show, John Hogan of Superior Jetties reveals the ambitious plans of the “Tourism & Leisure City” on the South-West Coast of Korea and how his and other Australian companies are set to benefit from the long-term development along the country's coastline.

The 22 million square-metre precinct will be a haven of recreation and lifestyle. It will occupy 10kms of waterfront and boast marinas, residential development, casinos, golf courses, a massive food village, festival centre, business and conference park all under the banner of “Southwest Tourism Enterprise City”.

Says Hogan: “We have struck up an MOU, which is the way Koreans do business, for this 10 year project. It’s a monster – like Sanctuary Cove or Hope Island on an even larger scale.”

While the marine industry in Korea is embryonic, they have a lot in their favour, even at this early stage. During KIBS, Hogan recounts, the Mayor and the Governor attended every day, making their presence felt around the show and appearing at all the official events.

“They are very supportive. The Mayor and Governor were at the event, all over the precinct, at the lunches and dinners. The organisers did a great job. All the presentations were translated into Korean and English. A lot of investment went in to the event and it will pay off for them.”

While the potential for recreational boating and a marine industry is certainly there, South Korea still has some issues that are proving a barrier to development, but nothing that they’re not prepared to surmount.

“For a focus beyond manufacturing, they have to create a love of boating, and for that to evolve, you need a culture of tinnies and boat ramps, not just superyachts. But the laws in place are holding them back. For instance, you can’t tow a vessel over 750kg. When this was brought up with the Governor at the conference, he promised to get the law changed. They are very determined to build the boating sector and they are devoting huge amounts of money and manpower to it.”

Jeremy Spear from Spear Green Design Naval Architects and marine interiors specialists was also impressed with the attitude and multitudes at KIBS this year.

Visiting the show as an exhibitor via AIMEX, he also went to Korea to cement a relationship with current client, Hyundai Yachts. Spear Green has already supplied the plans for the interiors of a production boat, the Asan 42 motor yacht, which Spear reports is halfway through construction of the prototype.

This new production vessel has been put together as a joint venture of three design specialist companies: Exterior styling by David Bentley, with Naval Architecture by Peter Lowe Design and marine interiors by Spear Green Design.


Spear Green’s Asan prototype is well underway.

Prior to KIBS, Spear went to Ulsan in the south-east to visit Hyundai Yachts – an offshoot of Hyundai Ships - and look over its facilities. “We took part in some in-house design sessions and project management discussions, as well as touring their extensive facilities and that of their neighbour, Hyundai Lifeboats. There are plenty of opportunities in Korea for innovative, hard-working Australian companies.”

According to Spear, the Korean people are eager to embrace the boating lifestyle and their high consumption of brands makes them an ideal target market.

“The marine industry there is really promoting the boating lifestyle as highly desirable, hence the thousands of school children invited to the boat show. As a people, they are very brand aware and avid consumers. The aim is to appeal to the next generation and instill in them the boating mindset and culture.”

School kids get in boats and experience for themselves the fun and attractions of the on-water way of life.

Also an advantage is Korea’s natural endowment of scenic waterways and coastline. “There are a lot of islands and very beautiful coastline,” says Spear. “The Koreans want to attract the cruise ship market eventually. They are planning a new river right through the centre of Seoul – it’s very impressive.”

The southern region, already known for its ship building facilities and focus, is being touted as the next big thing, benefiting from millions of dollars in investment in infrastructure and global marketing as a boating hub.

The 2009 Yacht & Boat Korea will be held in a region in the south known for its exceptional natural wonders, as well as an idyllic climate which is warm all year round.

Part of Gyeongsangnam-do Province – home to Samsung, LG, Daewoo Shipbuilding and GM Daewoo, Sony and Korea Aerospace Industries – the location is already a tourism hub, surrounded by three sides with water and acting as a harbour distribution centre for Asia and the world.

With the ubstantial assistance of the Korean government and local Governor, Kim Taeho the province has ambitions to become known as 'Seatopia: the dream destination of Asian boating'.

by Jeni Bone 11:35 AM Mon 6 Jul 2009 GMT
 

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source: THE PENINSULA
http://www.thepeninsulaqatar.com/Di...onth=July2009&file=Local_News200907042200.xml

Four Nakilat ships named in South Korea

Web posted at: 7/4/2009 2:20:0


DOHA: Four of the world's largest LNG carriers were named at a ceremony held at Daewoo Shipbuilding and Marine Engineering Company's shipyard on Geoje Island in South Korea.

The first ship, Al Khattiya, was named by Sara Bailouni, daughter of Samir Bailouni, Fleet Management Director of Qatar Gas Transport Company (Nakilat), a statement from Nakilat said yesterday.

The second vessel, Al Karaana, was named by Noora Al Kharji, LNG Sales Administrator, Qatargas. The third ship, Al Nuaman, was named by Johara Al Marwani, spouse of Mohammed Al Naimi, Director and General Manager of South Hook LNG Terminal Company Ltd, while the fourth vessel, Al Bahiya, was named by Fatma Al Haddad, spouse of Ali Al Kharraz, Shift Supervisor, Qatargas.

All four ships are Q-Flex series LNG carriers.

Muhammad Ghannam, Nakilat Managing Director, said: Nakilat has achieved many important milestones since our ship building programme started just a few short years ago and today is no exception with four of the world's largest LNG carriers being named. During the next year, all of our 25 wholly-owned new LNG ships, 14 Q-Max and 11 Q-Flex, will be fully operational. These 25 vessels, along with our 29 jointly-owned ships, are part of our 54-vessel fleet built by the Korean shipyards.
 
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