Competition among the big three Korean shipbuilders is intensifying as the shipbuilding industry is expected to recover, led by the LNG carrier segment.Samsung Heavy Industries ranked second in the world in terms of order backlog in February, said Clarkson Research, a U.K. shipping industry analyst,
Samsung Heavy Industries has landed an order for two LNG carriers worth 419.9 billion won.The shipbuilder announced on Jan. 29 that it concluded a contract with Celsius Tankers, a European ship owner, for the construction of two LNG carriers of 180,000 cubic meters.The vessels to be built are Saver
The number of employees at the nation’s “big three” shipbuilders – Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. (DSME) – has plunged a whopping 27 percent compared to 2011.According to the data from the Financial Supervisory Service, the
Korea’s three major shipbuilders are likely to attain their new order targets for this year. Currently, they have achieved 60% to 70% of their annual goals. They believe they will have no problems in meeting their goals as new orders tend to be concentrated in the second half and at the end of the y
The world's largest floating oil production storage and offloading (FPSO) facility, built by Samsung Heavy Industries (SHI), has been completed in Nigeria and will soon start work at the neighboring offshore oil fields. It took five years for SHI to complete the large-scale offshore project, whi
Samsung Heavy Industries announced on August 20 that it has won an order for two LNG tankers from a North American client for about US$365 million.The latest order came after the company won an order for two LNG carriers from Celsius Tankers in Europe on August 17. As a consequence, Samsung Heavy In
Korean shipbuilders have swept all of the orders for 30 large liquefied natural gas (LNG) tankers from around the world this year. Shipbuilding industry watchers say that Korean shipbuilders outweighed those of China, Japan, and other competitors in terms of accumulated experience, technology and pr
Both Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. recorded massive deficits in the second quarter. Vessel prices have rebounded and the number of orders won has increased. However, the two companies are expected to have difficulties in improving performance for a while due to a rapi
Samsung Group affiliates have been the main targets of short sellers so far this year, data from the Korea Exchange show.Samsung Heavy Industries recorded the highest short selling volume of 72,500,309 shares this year, dwarfing those of other companies. LG Display, which came in second, recorded 47
South Korean shipbuilders won 40% of international contracts for new ships in the first half of this year to beat their Chinese counterparts and rise back to the top in three years in terms of H1 performance. Chinese shipbuilders surpassed South Korean companies in terms of the number of new contrac
Korean shipbuilders recaptured the first place in global shipbuilding orders, outclassing Chinese shipbuilders in a month.According to Clarkson Research, a shipbuilding and maritime survey agency, Korea topped the standings by landing 550,000 compensated gross tonnages (CGTs) for 15 vessels out of t
Hyundai Merchant Marine (HMM) will place orders for 20 super-large container ships with Korean shipbuilders.On June 4, HMM announced that the shipping company has selected three Korean shipbuilders -- Daewoo Shipbuilding & Marine Engineering (DSME), Samsung Heavy Industries and Hyundai Heavy Industr