SEOUL, Jul. 2 (Korea Bizwire) — South Korea’s industry ministry said Tuesday it plans to pursue investment projects worth 2 trillion won (US$1.44 billion) over the next 10 years with businesses to leverage smart and clean energy technologies in the shipbuilding industry. The government unveiled the initiative as part of Vision 2040, a strategic plan [...]
SEOUL, Jul. 1 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Monday it has won orders totaling 2.15 trillion won (US$1.55 billion) for eight carriers from two Middle Eastern shippers. Hanwha Ocean will build four liquefied natural gas (LNG) ships for one undisclosed Middle Eastern shipper at a cost of 1.43 trillion [...]
SEOUL, Jun. 21 (Korea Bizwire) — Hanwha Group said Friday it has invested US$100 million in Philly Shipyard Inc. to acquire a 100 percent stake in the U.S. shipbuilder, marking the first entry of a South Korean company into the U.S. shipbuilding industry. The acquisition involves the group’s two defense units, Hanwha Systems Co. and [...]
SEOUL, Jun. 17 (Korea Bizwire) — Container shipping costs from Europe to South Korea rose for the fourth consecutive month in May amid ongoing tensions surrounding the Red Sea, the customs agency said Monday. The average shipping cost for a 40-foot container from the European Union to South Korea went up 5 percent on-month last [...]
SEOUL, June 14 (Korea Bizwire) – In a collaborative effort to advance the development of liquid hydrogen carriers, five leading South Korean shipbuilding and steel companies have joined forces to conduct research on cargo tank materials for these next-generation vessels. Samsung Heavy Industries announced on June 13 that it has signed a memorandum of understanding with [...]
SEOUL, June 13 (Korea Bizwire) – South Korean shipyard Samsung Heavy Industries Co. said Thursday a Russian shipyard unilaterally canceled supply contracts worth billions of dollars and it plans to take the case to an international arbitration center. Russia’s Zvezda Shipbuilding Complex recently canceled a combined US$4.2 billion worth of contracts signed in 2019 and [...]
SEOUL, June 10 (Korea Bizwire) – HD Korea Shipbuilding & Offshore Engineering Co., a major South Korean shipyard, said Monday it has won a 148.4 billion-won (US$107.7 million) order to build two petrochemical carriers for a Middle Eastern shipper. Hyundai Mipo Dockyard Co., one of HD Korea Shipbuilding’s three shipbuilding units, will construct the carriers [...]
SEOUL, Jun. 10 (Korea Bizwire) — South Korea’s major shipbuilder Hanwha Ocean Co. said Monday it has launched a new wind turbine installation vessel (WTIV). Ordered by Cadeler Inc. in 2021, the WTIV measures 148 meters in length and 56 meters in width. It is capable of sailing while carrying five offshore wind turbines, each [...]
SEOUL, May 31 (Korea Bizwire) — Hanwha Ocean Co., a shipbuilding and defense industry unit of South Korea’s Hanwha Group, said Friday it has partnered with three Canadian technology firms to enhance cooperation as part of its effort to bid for Canada’s maritime procurement project. During Canada’s Global Defence & Security Trade Show in Ottawa, [...]
SEOUL, May 27 (Korea Bizwire) — Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, said Monday it has signed a deal with Stax Engineering to adopt an emission reduction system for its pure car and truck carriers (PCTCs) as part of efforts to respond to the United States’ environmental regulations. With the deal, [...]