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China Won 76% Of The Global Shipbuilding Share, Daewoo, One Of The Three Major Korean Shipbuilding Companies, Withdrew From The Stage Of History


Nov 4, 2011
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China Won 76% Of The Global Shipbuilding Share, Daewoo, One Of The Three Major Korean Shipbuilding Companies, Withdrew From The Stage Of History

May 23, 2023 by Eshan William

In the field of shipbuilding, China, Japan and South Korea have the strongest strength in the past 20 years. Now it is the Chinese and Korean companies competing for hegemony. However, with the improvement of the strength of Chinese enterprises, the life of Korean shipbuilding enterprises is not easy. DSME officially changed its name today, and the name Daewoo has withdrawn from the stage of history.

On May 23, DSME held an extraordinary general meeting of shareholders,After deliberation and approval of amendments to the articles of association such as changing the company name and appointing directors, Daewoo Shipbuilding & Marine Engineering officially changed its name to “HANHWA OCEAN”.

Hanwha Group became the preferred bidder of Daewoo Shipbuilding in September last year. The acquisition was approved by relevant overseas departments and finally obtained conditional approval from the Korea Fair Trade Commission in April this year. Hanwha acquired 104 million new shares of Daewoo Shipbuilding and Marine last year. Acquired a 49.3% stake in the company.

This renaming is also the second renaming of Daewoo Shipbuilding in 45 years. The last time was acquired by Daewoo Group in 1978.

Daewoo Shipbuilding was first established in 1973 and was merged into Daewoo Heavy Industries in 1994. After the bankruptcy of Daewoo Group at the end of 1999, Daewoo Shipbuilding was established in 2000 on the basis of the shipbuilding business split from Daewoo Heavy Industries. Over the past 20 years, it has experienced many The shipbuilding business has also been affected by reorganization, acquisitions, etc., and there have even been losses for many years in a row, and the competitiveness has declined.

In April this year, South Korean shipbuilders accounted for the second-largest share of new ship orders,The Chinese shipyards won the contract with no less than 76% share, ranking first.

According to the China Shipbuilding Industry Association, in 2022, China’s shipbuilding completions, new orders, and hand-held orders will account for 47.3%, 55.2%, and 49.0% of the global share respectively, still ranking first in the world, ahead of South Korea, Japan and other countries.


Europe sets its gaze on the world’s largest ship: A closer look at MSC Loreto

May 26, 2023, by Jasmina Ovcina Mandra

The colossal vessel, MSC Loreto, with an unprecedented capacity of 24,346 TEU is calling at Europe’s top ports this week. This remarkable ship has captivated onlookers and left them in awe as it arrived on Wednesday morning, 24 May, at APMT 2 at the Prinses Amaliahaven in the port of Rotterdam.


Image credit: Port of Antwerp

MSC Loreto has claimed the prestigious title of the world’s largest container ship based on capacity, surpassing its predecessor, OOCL Spain (24,188 TEU). MSC Loreto proudly shares this accolade with its sister ship, MSC Irina.

The vessel was delivered in April by Yangzi Xinfu Shipbuilding, a subsidiary of Yangzijiang Shipbuilding Group to China’s Bank of Communications Financial Leasing (Bocomm Leasing) and MSC Mediterranean Shipping Company.

The containership boasts a total length of 399.99 meters and a width of 61.3 meters. The ship’s deck area spans a massive 24,000 square meters, which is equivalent to 3.5 standard football fields. It has been classed by DNV.

The ship incorporates several innovative energy-saving features, including a small bulbous bow, large-diameter propellers, and energy-saving ducts.

Data from VesselsValue shows that the owner of the vessel is Seaspan Corporation and that MSC is the operator of the ship.

Continuing its journey, the illustrious MSC Loreto arrived at the bustling port of Antwerp, Belgium, last night. The ship’s destination was the MSC PSA European Terminal (MPET) situated at the Deurganckdock.

Setting sail on its maiden voyage from Ningbo, China, on 19 April, MSC Loreto embarks on a remarkable itinerary, leaving awe in its wake. A crew of 25 skilled professionals ensures the ship operates seamlessly, guaranteeing the safe and efficient transport of a diverse range of goods.

Following its visit to Antwerp, the port of Antwerp-Bruges will treat maritime enthusiasts to an exclusive opportunity to witness the grandeur of MSC Loreto up close.

Organized by the Port of Antwerp-Bruges, five remarkable tours have been arranged on Saturday, 27 May, providing 750 lucky individuals the chance to view the awe-inspiring vessel from the water. Such was the enthusiasm surrounding this unique experience that all seats were booked within a matter of hours, the port said.


Image credit: Port of Antwerp
“Calls by record ships at our port continue to capture the imagination. So today we are proud to welcome the MSC Loreto. This demonstrates that our port can receive the largest container ships. This positions Antwerp well for further increases in scale. It is our ambition as a port to continue to grow in a sustainable way, with a firm finger on the pulse of the global economic situation
,” Jacques Vandermeiren, CEO Port of Antwerp-Bruges, said.

“The interest in the arrival of the new record ship the MSC Loreto confirms that the activities in the port of Antwerp still capture the imagination of the general public,” Marc Beerlandt, CEO MSC Belgium, added.

“The commitment of our MSC people, the productivity of the Antwerp dockers, the support of the industrial fabric inside and outside the port area, the excellent cooperation with the Port of Antwerp-Bruges port authorities create an excellent support base for further developments of our company.”

MSC Loreto is scheduled to set sail for Felixstowe, UK, on 28 May.


Dalian shipbuilder delivers hull of giant vessel​

By ZHANG XIAOMIN in Dalian, Liaoning | CHINA DAILY | Updated: 2023-05-27

Dalian Shipbuilding Industry Co in Liaoning province delivers on Friday the hull and living quarters for the Bacalhau, which is the world's first M350 floating, production, storage and offloading vessel, with a total length of 364 meters, a beam of 64 meters and a depth of 33 meters. [PHOTO/CHINA DAILY]

The hull and living quarters of the Bacalhau — the world's first M350 floating, production, storage and offloading vessel — were delivered on Friday at the Changxingdao shipyard in Dalian, Liaoning province, marking a breakthrough for the Chinese shipbuilding industry.

The vessel has been jointly designed and built by Dalian Shipbuilding Industry Co, a subsidiary of State-owned China Shipbuilding Industry Corp, and FPSO contractor Modec for international energy company Equinor, which is headquartered in Norway.

The FPSO is a comprehensive, large-scale offshore oil production base that integrates personnel living quarters and a production command system, and can help significantly reduce operating costs.

"The new vessel is the world's first large offshore project designed in adherence to the latest rules and regulations of the Det Norske Veritas," said Pan Yongquan, vice-manager of the large project team of marine industrial products at Dalian Shipbuilding Industry.

Det Norske Veritas is a freestanding, autonomous and independent organization whose objective is to safeguard life, property and the environment. It is a recognized adviser for the maritime industry.

The M350 FPSO features a hull about 350 meters long. The new vessel's material scale and scale parameters make it the largest in the world, with a total length of 364 meters, a beam of 64 meters and a depth of 33 meters.

With a total of 80 rooms, it can accommodate 158 people. It boasts 22 cargo tanks with a full-load oil storage capacity of 2 million barrels. After it is put into operation, the vessel will process 220,000 barrels of crude oil each day.

"A variety of long-term anti-corrosive materials, such as titanium alloy pipes, heat-resistant alloy pipes and super duplex stainless steel pipes, have been used," Pan said, emphasizing that these made the Bacalhau a low-maintenance vessel and would allow it to meet its 30-year designed life without any dry-docking requirements.

The vessel will be deployed for offshore oil and gas production at an oilfield in the Santos Basin, off the coast of Sao Paulo, Brazil, as one with the largest storage and production capacity in Brazilian waters.

It can meet the special marine environmental conditions in Brazil and other regions, being suitable for oil and gas development operations in offshore waters around the world, Pan said.

"The global FPSO market is thriving. The trend is to be capable of operating in deeper waters, with higher daily processing capacity and larger storage capacity," Pan said. "Based on this first M350 vessel, we aim to design and build more FPSOs and make the name of Dalian Shipbuilding Industry flourish in the international shipbuilding market."

According to Pan, this is the seventh newly built FPSO delivered by the company, and its first collaboration on an FPSO hull with Equinor and Modec.

The Dalian company has an order to design and build another M350 FPSO, and construction work is expected to start in October.


Yangzijiang Shipbuilding clinches new orders worth US$5.6 bil ytd, bringing total to US$14.6 billion​

Khairani Afifi NoordinMon, Jun 26, 2023 • 07:19 PM GMT+0

Yangzijiang Shipbuilding clinches new orders worth US$5.6 bil ytd, bringing total to US$14.6 bil

The six vessels will be fully constructed in-house. Photo: Yangzijiang Shipbuilding

Yangzijiang Shipbuilding BS6 0.68% has won new orders worth US$5.6 billion year to date, bringing its order book to a record of US$14.6 billion, according to the company on June 26.

The most recent contract won was one from A.P. Moller – Maers, to build six 9,000TEU methanol dual-fuel containerships - marking Yangzijiang's maiden order for such vessels. Industry publication Tradewinds, citing unnamed sources, says that the order is worth US$1.15 billion.

The six vessels will be fully constructed in-house, due for delivery between 2026 and 2027.

Yangzijiang Shipbuilding executive chairman and CEO Ren Letian says the vessels will strategically replace the current capacity within Maersk's fleet. This is in line with Yangzijiang Shipbuilding’s ongoing efforts to support the maritime industry’s green fleet renewal trend.

“Following the regulatory changes by the International Maritime Organisation, the shipping industry is on an accelerated decarbonisation trajectory. On that basis, we are optimistic in gaining further grounds in the near term,” he adds.

Other recently won contracts include an order to build three combination carriers for a Norwegian company, announced on June 25.

According to the customer, Klaveness Combination Carriers, in its May 23 announcement to the Oslo exchange, the contract price of each vessel is US$56.4 million, while the estimated delivered cost including, amongst others, zero-emission readiness and costs for shipyard supervision team is approximately US$60.5 million per vessel.

Shares in Yangzijiang Shipbuilding closed 7 cents higher or 5.46% up on June 26 at $1.35.


China dominates global shipbuilding industry in H1 2023​

News 14/07/2023

China’s shipbuilding industry has taken the lead in three major indicators among global competitors in the first half of 2023, according to China’s Ministry of Industry and Information Technology (MIIT) on Wednesday.

From January to June, China’s ship completion reached a record of 21.13 million tons, representing a 14.2 percent increase year-on-year. The volume of newly received orders and the volume of orders on hand reached 37.67 million tons, showing a significant increase of 67.7 percent year-on-year.

By the end of June, the volume of orders on hand reached 123.77 million tons, marking a 20.5 percent year-on-year increase, with 92.8 percent of these orders being for export.
The industry data positions China as the only country experiencing growth in all three major indicators, as reported by China Media Group (CMG).

During the first six months, the production capacity of the Chinese shipbuilding industry dominated the global market share, with the ship completion amount, volume of newly received orders, and volume of orders on hand accounting for 49.6 percent, 72.6 percent, and 53.2 percent, respectively.

In addition, the increasing number of ships with high technology and high value-added demonstrates an upgrade in the order structure across the Chinese shipbuilding industry. In the first half of this year, the Chinese shipbuilding industry generated over 150 billion yuan ($20.92 billion) in income with a profit rate of 4.1 percent, reaching a new high in the past decade, according to CMG’s report.


China shipbuilding production surges, helps propel economy​

  • Friday, 22 Sep 2023

China’s shipbuilding output accounted for 49% of the world’s total between January and August, while the sector’s holding orders represented 53.9% of the global total, said the Industry and Information Technology Ministry. — China Daily

BEIJING: China’s shipbuilding industry recorded sound development in the first eight months, with robust growth in output, new orders and holding orders.
This has helped the sector emerge as a formidable force propelling the country’s industrial expansion, said a government official.

Fuelled by technological accumulation and industrial upgrading, China saw new orders – a major indicator within the shipbuilding industry account for 68.8% of the global market share during the eight-month period, said the Industry and Information Technology Ministry (MIIT).

The ministry said China’s shipbuilding output accounted for 49% of the world’s total between January and August, while the sector’s holding orders represented 53.9% of the global total.

Speaking at a news conference in Beijing, Tao Qing, head of the MIIT’s bureau of operation monitoring and coordination, said these encouraging figures will inject new impetus into China’s foreign trade and economic growth.

In August, the added value of China’s industrial enterprises above a designated size grew 4.5% year-on-year (y-o-y), with the growth rate accelerating by 0.8 percentage point compared to the previous month, government data showed.

China also witnessed a surge in the production of service robots, up 73.7% y-o-y in August, while civil aircraft production soared 33.3%.

Meanwhile, production of goods such as photovoltaic cells and lithium-ion batteries for automobiles exhibited substantial y-o-y growth, with increases of 77.8% and 31.5%, respectively.

Tao said the equipment manufacturing industry has been the primary driver of industrial growth this year, with notable momentum in the development of high-end products.

“Based on high-frequency data related to employment and electricity usage that the MIIT has been monitoring since September, it is evident that industrial production has shown a stable and upward trend in both y-o-y and month-on-month comparisons,” she said.

In the first eight months, 27 of the 41 major industrial categories recorded y-o-y increases in added value.

Among the 10 pillar manufacturing sectors, seven achieved growth rates surpassing the national average, the MIIT said.


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