Dim Q3 Forecast for Korean Shipyards
South Korea's major shipyards are projected to report weaker-than-expected earnings for the third quarter of the year, due to increased costs and the construction of low-priced ships amid decreased new orders. Yonhap News Agency, quoting data compiled by Yonhap Infomax, said that Hyundai Heavy Industries (HHI) is expected to log an operating income of 106 billion won (US$93.6 million) during the July-September period, compared with the previous year's operating earnings of 322 billion won.
Newport News Shipbuilding Bags US Navy Submarine Contract
The U.S. Navy has given Newport News Shipbuilding a $106 million contract to provide engineering and industrial support for submarines. Huntington Ingalls Industries, parent company of Newport News Shipbuilding, said the contract will be worth a total of $564 million, as the special mission submersibles, submarine support facilities and related programs are also covered by the contract. Newport News Shipbuilding is one of only two U.S. shipyards capable of building nuclear-powered submarines and has completed hundreds of ship repair projects for the government…
Steven Palazzo Visits HII, Newport
Huntington Ingalls Industries today hosted Rep. Steven Palazzo, R-Miss., for a tour of the company's Newport News Shipbuilding division. Palazzo represents the fourth district of Mississippi, which includes Newport News' sister shipyard, Ingalls Shipbuilding. The visit provided an opportunity for Palazzo to see nuclear shipbuilding at Newport News and understand the value that Mississippi suppliers contribute to ship construction in Newport News. Palazzo's visit included a tour of aircraft carrier Gerald R. Ford (CVN 78), which is about 85 percent complete and scheduled for delivery in 2016.
Shipbuilding Rebound Due in 2014
According to a report on Yonhap News, South Korea's shipbuilding industry will possibly start to turnaround in 2014. The news agency cited findings from the BOK report forecast that the SBI (the shipbuilding business index) will rise to 98.87 points and 98.89 points in the first and second quarters of 2014, respectively, after hitting 98.85 points, the lowest in the past several years, in the last three months of 2013. The global shipbuilding market has contracted gradually since 2007, when the shipbuilding business index (SBI) reached 103.21 points.
Newport News to Host JAMF Ground-breaking Event
Huntington Ingalls Industries' Newport News Shipbuilding subsidiary will hold a ground-breaking ceremony for its new Joint Manufacturing and Assembly Facility (JMAF) on Monday, June 22. Slated to open in 2017, the JMAF will support the builder’s Gerald R. Ford-class aircraft carrier construction and current and future Virginia-class submarine construction programs and is designed to include multiple worksites, advanced technology, automated equipment, heavyweight cranes, large transportation doors and specialty paint bays to enable more efficient construction processes, the shipbuilder said.
Newport News Shipbuilding Rings in 130 Years
Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division kicked off its 130th anniversary celebration January 28. Newport News, the sole designer, builder and refueler of U.S. Navy aircraft carriers and one of two providers of U.S. Navy submarines, will celebrate the anniversary throughout 2016 with commemorative videos and employee publications. More than 100 local businesses, museums, schools and civic leaders provided congratulatory video messages that will be released each week throughout the year.
HII Creates Nuclear Services Company SN3
Combining Huntington Ingalls Industries’ (HII) S.M. Stoller Corp. and Newport News Nuclear subsidiaries, the company has created Stoller Newport News Nuclear (SN3), a full-service nuclear operations and environmental services company. "Formation of SN3 is a logical next step in the post-acquisition process of fully integrating our people and capabilities to achieve our business goals," said Pete Diakun, vice president, energy programs at HII's Newport News Shipbuilding division.
Korea's STX Offshore Gets Emergency Loans
Creditors of the ailing shipbuilder agree to provide STX Offshore with (US$540 million) in emergency loans. The news is cited as coming from the main creditor bank and is reported by the Yonhap News Agency. STX Offshore, the shipbuilding unit of STX Group, a South Korean shipping and shipbuilding conglomerate, has been suffering a credit crunch as demand for new ships has fallen sharply in the past few years. Source: Yonhap News Agency
US Shipbuilder Receives Environmental Awards
Huntington Ingalls Industries' Newport News Shipbuilding (NNS) division receives HRSD gold awards. NNS received gold awards for meeting industrial waste water discharge limits mandated by Hampton Roads Sanitation District (HRSD) and for meeting HRSD's technical and administrative requirements. Gold awards were presented to local companies for perfect permit compliance in 2012 and NNS has earned recognition from the HRSD every year since the awards were first presented in 1994.
Newport News Shipbuilding Hosts Sen. Inhofe
Huntington Ingalls Industries (HII) today hosted Sen. James M. Inhofe, R-Okla., for a tour of the company's Newport News Shipbuilding division. The senator, a military veteran, also met over breakfast with sailors from Oklahoma serving aboard the aircraft carriers USS Abraham Lincoln (CVN 72) and Gerald R. Ford (CVN 78). Ford is under construction at Newport News and scheduled for delivery to the U.S. Navy in 2016. Lincoln is undergoing a refueling and complex overhaul (RCOH) at the shipyard until 2016.
Virginia Leads US in Shipbuilding Jobs
The American Maritime Partnership (AMP) today joined with the Shipbuilders Council of America (SCA), Senator Tim Kaine (D-Va.), Congressman Rob Wittman (R-Va.) and Congressman Robert C. “Bobby” Scott (D-Va.), to highlight new data that shows Virginia ranks first among all U.S. states in shipbuilding with 63,650 jobs, far and above any other state. These jobs pump more than $5.5 billion into Virginia’s economy every year. The U.S. shipyard industrial base in Virginia and across the nation is vital to America’s national and economic security. Private U.S.
Amin Named VP, CIO at Newport News Shipbuilding
Bharat Amin has been appointed vice president and chief information officer for the Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division, the company announced. In his new position, Amin will oversee the shipyard's strategic direction and will have day-to-day leadership over all information systems at Newport News and the HII corporate office. Amin will assume his new position on Dec. 15 and transition into the job with the help of Leni Kaufman, who will retire from the position on Dec. 31 after 35 years of service that began with Northrop Grumman.
CMA CGM Confirms CSSC Yards for Mega-Ships
CMA CGM, the world's third- largest container line, and CSSC Group have officially signed the contract for the construction of nine 22,000 TEU ships, the largest container vessels ordered to date. Representatives from CMA CGM, Hudong-Zhonghua Shipbuilding (Group), Shanghai Waigaoqiao Shipbuilding and CSTC signed the contracts in Marseille on September 19. The order from the French-based container shipping firm underlines a recovery in the industry this year following a prolonged downturn.
Newport News Shipbuilding Celebrates 125th
Huntington Ingalls Industries announced today that its Newport News Shipbuilding (NNS) division has partnered with The Mariners' Museum to share the shipyard's history through a collection of 51 photographs. The exhibit, named "Always Good Ships," will be open to the public Aug. 6 through Oct. 31. "We are excited to partner with The Mariners' Museum to recognize our shipbuilders and the important role they play in our community and in the security of our nation," said Matt Mulherin, president of NNS.
Nine HII Employees Honored
Huntington Ingalls Industries (NYSE:HII) announced today that nine employees from its Newport News Shipbuilding and Ingalls Shipbuilding divisions were recognized for achievements in the fields of science, technology, engineering and math (STEM) during the 27th annual Black Engineer of the Year Award STEM Global Competitiveness Conference. This year's conference is being held at the Washington Marriott in Wardman Park through Saturday. Theodore A. Bush is an electrical engineer at Ingalls Shipbuilding.
Newport News Names Dunn VP of Communications
Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division has promoted Jennifer Dunn to vice president, communications, effective immediately. She will report directly to HII Executive Vice President and Newport News Shipbuilding President Matt Mulherin and align all external communications with Jerri Dickseski, HII’s executive vice president, communications. Previously serving as director, communications, for Newport News, in this new role Dunn will continue leading the development and execution of the shipyard’s communications strategy to include special events…
Newport News Fosters Home-grown Talent
Newport News’ Apprentice School seeks to go beyond training workers; it seeks to build leaders. The Apprentice School at Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division offers an invaluable educational and career opportunity for those seeking a profession in shipbuilding, but the school’s benefits extend much further than that. Within the HII business, the company uses the program to groom its apprentices for leadership roles within its managerial and corporate ladder.
Ailing Korean Shipbuilders to Get Huge Cash Injection
Creditors are expected to inject 800-billion Won (US$ 730-million) into STX Group during 2013, according to Yonhap News Agency. Creditors of STX Group will likely pump at least 800 billion won (US$730 million) into the troubled shipbuilding conglomerate in a bid to keep it afloat, an unnamed source has informed Yonhap News Agency. STX Group's troubled holding company, STX Corp., and two affiliates requested main creditor Korea Development Bank to supply liquidity in return for its voluntary debt-relief and restructuring efforts. Source: Yonhap News Agency
NNS Stacks Office with Food Christmas Trees
Newport News Shipbuilding employees donate food for the poor at Christmas, filling offices from desk to door. Huntington Ingalls Industries' Newport News Shipbuilding (NNS) division donated more than $23,500 and more than 31,000 pounds of non-perishable food to the Virginia Peninsula Foodbank during the shipyard's annual holiday food drive. "We are fortunate to employ an extraordinary group of people at Newport News Shipbuilding," said Chavis Harris, NNS' director, EEO, diversity and corporate citizenship.
US Rep. Crenshaw Visits Newport News Shipbuilding
Shipbuilder Huntington Ingalls Industries (HII) hosted Rep. Ander Crenshaw (R-Fla.) Tuesday for a tour of the company's Newport News Shipbuilding division. Ken Mahler, Newport News' vice president of Navy programs, joined Crenshaw for the visit, which included a tour of the aircraft carrier Gerald R. Ford (CVN 78) and discussions about increased efficiencies and construction progress on Ford and John F. Kennedy (CVN 79). Crenshaw also visited a submarine construction facility…
HII Employees Honored for STEM Achievements
Huntington Ingalls Industries (HII) announced that 20 employees from the company’s Newport News and Ingalls shipbuilding divisions were recognized for achievements in science, technology, engineering and math (STEM) during the 21st annual Women of Color STEM Conference. Huntington Ingalls Industries was among the corporate sponsors that supported this year’s event, which was held October 13-15 in Detroit. Vannia Willis, an 18-year engineering veteran at Newport News, was presented a Community Service Award…
ASSA to Host Roundtable with RADM Berkey
On June 26, 2013, the American Shipbuilding Suppliers Association (ASSA) will host a roundtable discussion between member companies and Rear Admiral Richard D. Berkey, Deputy Chief of Staff, Fleet Maintenance, U.S. Fleet Forces Command. ASSA will discuss major issues affecting the entire shipbuilding supplier industry with RADM Berkey. This member’s only meeting is collocated (but unaffiliated) with the American Society of Naval Engineers Mega Rust 2013: Naval Corrosion Conference at the Newport News Marriott at City Center in Newport News, Virginia.
Korea Shipbuilders Win Orders Worth $1B
According to a Jan. 12 report from The Chosum Ilbo, Korean shipbuilders won new orders worth over $1b in the first 10 days of the new year, in a complete reversal of the situation last year. STX Offshore & Shipbuilding and Hanjin Heavy Industries delivered the good news on Jan. 11, and Daewoo Shipbuilding & Marine Engineering and Sungdong Shipbuilding & Marine Engineering won new orders earlier. Industry insiders said an overseas marketing drive in the second half of last year finally paid off. (Source: The Chosun Ilbo)
Analyst Says Northrop Could Sell Shipyard
Defense industry analyst, Loren Thompson, in an April 7 Press Register story, questioned whether Northrop Grumman Corp.'s recent focus on profit margin will lead it to get out of the shipbuilding industry and sell its Pascagoula shipyard. That's not necessarily bad news for the 12,000 workers in the former Ingalls Shipbuilding yard, according to the Washington D.C.-based analyst. Northrop shipbuilding division's profit margin was 4.8 percent, compared with 10.3 percent for aerospace, 12.6 percent for electronic systems and 7.3 percent for information systems. (Source: www.al.com)
US Shipbuilder's Helping Hand to School Students
HII's Newport News Shipbuilding (NNS) division donates more than 20,000 school supplies to assist about 1,000 area students. "HII stresses the importance of education and encourages our employees to get involved in their communities," said Chavis Harris, NNS' director, EEO, diversity and corporate citizenship. "School Tools allows us to engage in both. Shipbuilders donated a variety of school supplies, including 6,258 pencils, 4,386 ball point pens and 911 packs of paper. The supplies were sorted and delivered Friday to area departments of social services…
Newport News Employees Receive Women in Business Awards
Two employees at Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division were among the 18 women honored by Inside Business Monday night at the Norfolk Waterside Marriott. Mary Cullen and Brandi Smith received Women in Business Achievement Awards for their leadership skills and community engagement. Cullen is the nuclear director, general manufacturing, within the nuclear propulsion division at Newport News. During her 29-year career, she has also worked in radiological control and nuclear production support and refueling.