Page 22: of Maritime Reporter Magazine (December 1996)

FAR EAST UPDATE

Tsuneishi Wins Contract To Build 125,000-DWT Shuttle Tanker by Alan Thorpe, contributing editor

Along awaited decision has been made on the contract to build a 125,000-dwt North Sea shuttle tanker for Stena

Ugland for a long-term charter to Esso. The contract has been awarded to Tsuneishi

Shipbuilding at Numakuma. Meanwhile,

Tsuneishi is currently looking at an overseas expansion program involving a shipbuilding yard, Kamaman Heavy Industries, in Malaysia.

The project is a joint venture with Tsuneishi and the Teregganu governments holding 30 percent stakes, with 40 percent owned by local

Malaysian shipping interests.

Hong Kong's Orient Overseas Container Line (OOCL) has been busy on the charter market giving contracts to four Panamanian companies for long-term charters on four 1,560-TEU con- tainerships to be built at Japan's Imabari

Shipbuilding.

Japan's Hitachi Zosen has also been busy in the newbuilding market with orders for two woodchip carriers from Japan's NYK Line, a 258,000-dwt VLCC from Mitsui OSK Lines and additional Panamax bulk carriers from

Nichimen Corp. Meanwhile, Sasebo Heavy

Industries has won contracts for three

Panamax bulk carriers — two from Hong

Kong's Worldwide Shipping and one from

Gowill Co., also based in Hong Kong. Other orders for Panamax bulk carriers have been won by Shin Kurushima Dockyard from Daiichi

Chuo Kisen, and by Sumitomo Heavy

Industries from Mitsui & Co. In regards to the large tanker market, Mitsubishi Heavy

Industries (MHI) has won an order from a con- sortium of companies including Runciman (U.K.) and Golden Ocean Tankers (Vancouver) for a 305,000-dwt ULCC.

South Korean Business Takos Off

Newbuilding activities in South Korea have taken off during the past two months: .Samsung Heavy Industries (SHI) has won a contract from Australia's Woodside Offshore

Petroleum to build a

FPSO for use in the

Timor Sea. The oil storage capacity will be 200,000-cu.-m. This latest offshore order for

SHI comes shortly after a contract from Conoco for a double-hulled drillship for delivery during 1998. SHI has also come to a basic agreement with U.S. oil major Chevron for the construc- tion of two VLCCs, which would be the first international order for large tankers won by this shipyard.

Currently, Samsung is building a 308,000-dwt

ULCC for Yukong Line; and both Hyundai

Heavy Industries (HHI) and Daewoo Heavy

Industries (DHI) have won orders from

Malaysian International Shipping Corp. (MISC). HHI has an order for two 2,700-TEU vessels, and DHI has won a $68 million con- tract to build two 1,200-TEU containerships, both due for delivery in 1998. HHI is also look- ing to expand its VLCC orderbook with negoti- ations currently underway with Hyundai

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