Page 67: of Maritime Reporter Magazine (October 1997)

FAR EAST UPDATE

Shipbuilding (MES) for the con- struction of two 75,000-dwt

Panamax bulk carriers as part of the tramp fleet modernization pro- gram. The first is scheduled for deployment in the middle of 1999 and the second in the autumn of the same year. When they are com- pleted, they will join the fleet of large-sized tramp carriers.

Namura Shipbuilding has signed a letter of intent with Sweden's

Stena Bulk for the construction of four 107,000-dwt double hull

Aframax tankers. Deliveries are set to begin in December 1999.

The contract has been valued at $184 million. Japanese robot maker Orii Corp. recently announced that Namura

Shipbuilding is to become its largest shareholder with a 30.7 percent share. Namura has pur- chased stock previously held by

Orii chairman Masaru Orii.

Sumitomo Heavy Industries (SHI) has redesignated its Oppama facil- ity as Yokosuka Shipyard, where the company's newbuilding activi- ties are concentrated. The compa- ny's nearby Uraga Shipyard, which had been operated by Uraga Heavy

Industries until 1969, celebrates its centenary this year. Uraga's docks are today used solely for ship repair work. Further consolida- tion of the diesel engineering sec- tor has been signaled by a new alliance between Finnish owned

Wartsila NSD Corp. and Japan's

Hitachi Zosen. A 50/50 joint ven- ture production firm, Wartsila

Diesel Japan Co. is to be created in

Japan to assemble two of the most recently developed, medium speed designs in the Finnish engineered range.

Due to start in September, it will also sell other types of Wartsila machinery and propulsion pack- ages into the home market, the world's largest shipbuilding mar- ket. Although it has come close to attracting ferry contracts in the past, South Korea's Samsung

Heavy Industries (SHI) is poised to achieve its breakthrough in the

RoRo freight vessel market. The

South Korean yard is at an advanced stage of negotiations with an Australian operator regarding a requirement for two newbuildings of around 7,000 dwt.

The subject design would probably offer a lane capacity in the region of 1,500 to 1,700 running meters.

Market sources suggest that the prospective contractual party is

Melbourne-based Brambles

Shipping and that an order could be sealed before the end of this month. Hyundai Mipo Dockyard (HMD), one of the world's largest ship repair companies, saw its interim profits fall by 40 percent to $1.4 million due to a decrease in ship repair prices. 5 • YEARS EXPERIENCE IN ENGINEERED KEEL CODLING! 44 THE FERNSTRUM GRIDCOOLER

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