业绩"狂飙突进"！K造船迎来"新买家" 凭借盈利能力大幅改善以及在中型油船市场的强势表现，曾在全球排名第三、历经破产重组与行业低谷 的韩国K造船（原STX造船海洋）正加速走向全面"复活"。 近日，韩国泰光(Taekwang)集团与美国私募股权投资公司德克萨斯太平洋集团（TPG）组成的联合体提 交了K造船的收购意向书（LOI），计划收购韩国最大不良债务清算机构United Asset Management Company（UAMCO）和韩国私募股权基金KH Investment（KHI）目前持有的K造船99.58%股份及公司 债券，收购价格预计在5000亿韩元（约合25亿元人民币）左右。 泰光集团参与K造船收购战的原因在于：K造船已步入业绩快速好转的轨道，继去年扭亏为盈后，今年 实现营业利润有望超过1000亿韩元（约合5亿元人民币），在中小型油船市场保持着强势地位；同时， K造船在参与韩美造船业合作项目"MASGA"时承担美国海军舰艇MRO（维护、维修和大修）业务的可 能性也越来越大。基于此，泰光集团判断收购K造船可为集团增加新的核心增长点。 据悉，泰光集团的主营业务石油化工及纺织等遭遇市场不振，经营状况持续恶 ...

Core Viewpoint - Guangdong Songfa Ceramics Co., Ltd. announced the signing of contracts for two 306,000-ton VLCCs with a European shipowner, with a total contract value of approximately $200-300 million (RMB 1.422-2.132 billion), scheduled for delivery in the first half of 2028 [2][3] Group 1 - The contracts were signed with a well-known European shipowner, and specific details about the shipowner are exempt from disclosure under relevant regulations [2] - The current price for a new VLCC of 315,000-320,000 tons is approximately $126 million (RMB 897 million), showing a slight decrease from $129 million in the same period last year [2] - The 306,000-ton VLCC is designed for large oil transportation, featuring high loading capacity, strong endurance, and operational efficiency, meeting the latest international shipping market demands for large-scale and low-carbon transportation [2] Group 2 - This is the second VLCC order secured by Hengli Heavy Industry within the week, following another announcement of contracts for two 306,000-ton VLCCs and six 114,000-ton oil/product tankers [3] - Hengli Heavy Industry, formerly STX Dalian, was once the largest foreign-funded shipyard in China and has transformed into a world-class high-end shipbuilding base after acquiring idle assets for RMB 2.11 billion [3] - Hengli Heavy Industry has commenced the construction of over 60 vessels, with a backlog of approximately 170 orders scheduled for production until 2029, aiming to achieve an annual production capacity of over 150 large vessels and 180 marine engines upon full capacity [3]

哈喽，大家好，我是山无言，今天和大家聊聊中美同时停止港口和船舶制裁的这件事。大家知道，"实 力决定一切"，美国一直被认为是"纸老虎"，因为当中国的实力变强时，美国也只能被迫后退。 要理解这次风波，首先得搞清楚美国背后的真实意图。表面上，美国声称要恢复本国造船业的竞争力， 推动制造业回流，并保障所谓的国家安全。但实际上，美国已经发现，单靠市场手段根本无法和中国竞 争，所以它通过"301调查"这种行政手段，试图用制裁来打压中国的优势。10月14日，美国的这项法案 正式生效，开始对中国的相关船舶加征港口费，并对核心设备征收高达100%的关税，直接设立了贸易 壁垒。 就在今天，11月10日，美国和中国相继宣布暂停海事制裁和反制措施。从表面上看，似乎是中国和美国 各自退一步，但实际上，这是美国的失败，也是中国决心奉陪到底的体现。 与此同时，美国还联合韩国等盟友，允许韩国为美国海军建造宙斯盾驱逐舰，并专门推动了《海军准备 状态保障法》，为盟友代工美国舰艇开了绿灯，目的是通过"抱团取暖"来弥补美国造船业的不足，共同 遏制中国。这些行动本质上是美国想通过规则和壁垒，将中国制造业拖进"死胡同"。不过，美国也很清 楚，光靠自己那 ...

每经AI快讯，有投资者在投资者互动平台提问：贵公司目前最大能造多大的船？贵公司在造船业有没 有相关升级计划？ 潍柴重机（000880.SZ）11月19日在投资者互动平台表示，公司全资子公司常州玻璃钢造船厂有限公司 主要研发及生产30米以下复合材料、钢质、铝质等各类船艇。2022年，常州玻璃钢造船厂有限公司设立 全资子公司渤星船舶科技（青岛）有限公司，投资建设潍柴（青岛）海洋装备制造中心项目，拓展30米 以上、80米以下船艇业务。 （记者 胡玲） ...

全球造船行业的变迁，就像是一场大型的接力赛。二战后，英美国家曾是全球造船的领头羊，到了60年代，日本接过了这个接力棒，80年代时，韩国迅速超 车，2010年以后，中国一举崛起，牢牢占据了世界造船业的领导地位，堪称"江山代有才人出"。 如今，轮到印度开始兴奋了！中美博弈让印度看到了潜在的机会窗口，莫迪总理喊出了"十年内进入全球前五"的口号，不仅投入资金设立基金，还收购了斯 里兰卡的船厂，表现得相当雄心勃勃。印度自己总结了不少优势：海岸线漫长，人工成本极低，科钦造船厂还获得了法国的订单，印度似乎已经准备好复制 中国、日韩的成功之路。 总的来说，莫迪总理的雄心值得肯定，但造船业的成功从来不是靠喊口号就能实现的。如果印度能真正静下心来，花上15年时间逐步积累，或许还有机会。 但如果仍抱着"抄作业"的心态，恐怕只能在"全球前五"的门口徘徊了。 与中国的顺风顺水相比，印度则错失了很多机会。虽然苏联在当年给予了印度102项援助，但这些援助只是成品的转交，并没有提供核心技术。印度在与西 方国家建立关系时，也比中国晚了近20年，等到2010年代西方国家终于开始重视它时，全球化的红利早已过去，许多高科技技术都已经被严密封锁，印度 ...

印度天鹅防务与重工业近期抛出了一则让本土舆论亢奋的消息！挪威老牌船东Rederiet Stenersen抛来橄榄枝，委托其建造6艘1.8万载重吨的IMO II型化学品 船，合同总价2.2亿美元，对方还攥着6艘同型船的优先下单权。 其实这单生意能成，更离不开印度政府的托底。这笔2.2亿美元的订单，光政府补贴就接近5500万美元。即便印度造船工人薪资仅为中国的三分之一，低效 也把成本优势啃得精光。航运咨询机构Clarkson 2025年的报告显示，印度工人的单日产能仅为中国同行的50%，一艘普通商船的建造周期要18个月，比中国 船厂慢了整整半年；而IMO II型船工艺更复杂，工期拖宕的风险只会更高。 全球市场的差距更是直观。2025年印度造船业的全球份额仅0.06%，排名在20名上下徘徊；中国却占了近60%的市场，从船舶设计软件到动力系统实现全产 业链自主，全年产能是印度的884倍。此前印度花17年造好的维克兰特号航母，还曝出甲板平整度不足、舰载机调度不畅等缺陷，正是这种产业积累鸿沟的 缩影。 但这高光时刻的底色，是甩不开的外援依赖的。这批船的全套设计由挪威Marinform公司包揽，从液货舱防渗漏结构到船舶稳性 ...

【文/观察者网 陈思佳】当地时间11月14日，韩国总统李在明表示，韩国和美国敲定关税和安全磋商成 果文件"联合情况说明书"，韩美一致同意推进韩国建造核潜艇。 此举被视为美国所谓"遏制中国"战略的一部分，美国海军高级将领也毫不掩饰这一企图。据美国彭博社 16日报道，美国海军作战部长达里尔·考德尔14日宣称，美国希望韩国建造的核潜艇可以用于"对抗中国 海军"，这是美国的关键盟友"应当承担的责任"。 在韩美"联合情况说明书"公布几个小时后，考德尔在韩国首尔发表讲话，他声称："我认为，利用核潜 艇来对抗中国，是一种自然而然的选择。我认为韩国还有责任在全球范围内部署这些潜艇，从单纯的区 域性海军转变为全球性海军。" 《朝鲜日报》报道提及，他还引用了一句2002年《蜘蛛侠》的台词："能力越大，责任越大。" 他称中国是面临的"主要竞争性威胁"，"美国期待与盟友合作，以实现与这一主要竞争性威胁有关的共 同目标"。他宣称，如果大国之间发生冲突，将出现"接近全面动员的情况"，"我无法说明具体会采取什 么措施，但可以肯定的是，驻韩美军将发挥一定的作用。" 谈及韩国希望利用核潜艇"威慑朝鲜"，考德尔宣称，朝鲜的海军力量仍然被美国视为 ...

Core Insights - The global shipbuilding market continues to face a downturn, with South Korean shipbuilders' market share dropping to 18% in October, while Chinese shipbuilders dominate with a 73% share [1] Group 1: Market Performance - In October, global new ship orders totaled 2.91 million compensated gross tons (CGT) across 118 vessels, representing a year-on-year decrease of 38% and a month-on-month decline of 33% [1] - From January to October, total new ship orders reached 37.89 million CGT (1,392 vessels), down 43% year-on-year [1] - As of the end of October, the global order backlog stood at 167.79 million CGT, with South Korea holding 34.28 million CGT (20%) and China 101.96 million CGT (61%) [1] Group 2: Company Performance - South Korean shipbuilders secured only 9 vessels totaling 520,000 CGT in October, while Chinese shipbuilders captured 98 vessels totaling 2.13 million CGT [1] - For the year-to-date, South Korean shipbuilders have taken on 8.06 million CGT (182 vessels), accounting for 21% of the market, compared to China's 22.39 million CGT (895 vessels) at 59% [1] - Compared to last year, South Korea's backlog decreased by 3.46 million CGT, while China's backlog increased by 8.24 million CGT [1] Group 3: Pricing Trends - The new ship price index (NPI) in October was 184.87, a slight decrease from the previous month’s 185.58 [1] - Key ship prices included $248 million for liquefied natural gas (LNG) carriers, $126 million for very large crude carriers (VLCC), and $266.5 million for ultra-large container ships in the 22,000 to 24,000 TEU range [1]

Investment Overview - South Korea has agreed to invest $350 billion in the U.S. in exchange for a reduction in tariffs from 25% to 15% [1] - The investment is divided into two parts: $200 billion in cash and $150 billion for shipbuilding cooperation [1] - The cash investment will be phased in, with a maximum of $20 billion per year, to minimize impact on South Korea's foreign exchange market [1] Sector Focus - The primary focus of the investment is on semiconductors, with Samsung and SK Hynix planning to build chip factories in the U.S. [3] - Samsung is set to invest an additional $25 billion in its Texas facility [3] - The electric vehicle and battery sectors are also significant, with Hyundai Motor Group planning to invest $26 billion in the U.S. and collaborating with LG Energy Solution to build a battery factory with over $4.3 billion investment [3] - South Korea's three major battery companies—Samsung SDI, LG, and SK On—are planning to establish 15 battery factories in the U.S. [3] Economic Rationale - The investment strategy is aimed at countering U.S. tariff pressures, allowing South Korean products to compete on equal footing with Japanese products in the U.S. market [3] - In 2022, nearly half of South Korea's total automotive exports went to the U.S., with Hyundai and Kia incurring over 3 trillion won in tariffs in the third quarter alone [3] Corporate Plans - Specific corporate investment plans include Samsung's $17 billion factory in Texas, Hyundai's $11.4 billion electric vehicle plant in Georgia, and SK Group's planned $22 billion investment [3] Challenges and Risks - South Korea's economy is smaller than Japan's, with foreign exchange reserves of approximately $416 billion, posing liquidity and exchange rate pressures [4] - Recent tightening of U.S. worker visa policies and incidents involving the arrest of hundreds of South Korean workers at Hyundai's battery plant add uncertainty to the investment [4] - The $350 billion investment represents a strategic move to address U.S. tariff pressures and actively participate in global supply chain restructuring, but maintaining market access while preserving industrial autonomy poses significant challenges for South Korea [4]

Core Viewpoint - The United States and South Korea have reached a comprehensive economic and security agreement, which includes significant investment plans from South Korea and major tariff reductions from the U.S. [2][4] Economic Agreement - South Korea will invest a total of $350 billion in the U.S., with $200 billion as cash investment and $150 billion allocated for shipbuilding projects [5] - The U.S. will reduce tariffs on South Korean automobiles, auto parts, wood, and wood products under Section 232 from 25% to 15% [5][6] - South Korea has committed to providing $33 billion in comprehensive support for U.S. troops stationed in South Korea [5] Defense Cooperation - South Korea will build nuclear-powered submarines with U.S. authorization, and plans to purchase $25 billion worth of U.S. military equipment by 2030 [4][7] - The defense spending of South Korea is set to increase to 3.5% of GDP [4] Trade Relations - South Korea will lift the import limit on 50,000 unmodified U.S. cars and work with the U.S. to address non-tariff barriers affecting food and agricultural trade [5] - The agreement aims to stabilize the foreign exchange market and prevent market instability due to the commitments made [5][6] Market Impact - The announcement led to a significant appreciation of the South Korean won, with the dollar dropping over 1% against the won [2][6] - Analysts suggest that the reduction in tariffs will alleviate downward risks for the South Korean automotive industry, which heavily relies on U.S. demand [6]