MHI construction figures

22 Dec 2014
The LNG carrier market is proving to be lucrative for MHI with four vessels being built this year

The LNG carrier market is proving to be lucrative for MHI with four vessels being built this year

Mitsubishi Heavy Industries (MHI) has released its 2014 construction figures which are down on last year, but it has been a year of transition for the shipbuilder.

The figures show that the total number of vessels built was 10, down from 12 on the previous year. With one less (six in 2014) being built for the Japanese market and three less (four in 2014) being built for the foreign market.

Overcapacity is one problem that likely affected the shipbuilder this year because it means less orders for shipbuilders but the loss in its cruise ship side of the business probably didn't help either.

The loss of around 60 billion yen because of difficulties encountered in the construction of two cruise vessels for AIDA Cruises, was apparently due to the volume of design work which became “vast and significant” with huge design changes having to be made to the cabins and other areas, causing delays to the build.

And since time costs money, MHI has since said that it will no longer be focusing on the cruise market. The decision may have been helped due to the fact that the LNG carrier market is proving to be even more lucrative for the shipbuilder this year with four vessels being built up from zero in 2013. The shipbuilder has clearly decided where there is money to be made.

Just a month ago, MHI completed development of the Sayaringo STaGE, its new next-generation LNG carrier.

This build is part of MHI's initiative to develop a vessel in the New Panamax category as a strategic new product among its LNG carrier offering.

Links to related companies and recent articles ...

Mitsubishi Heavy Industries Marine Machinery & Engine Co

view more