SEOUL, Nov. 22 (Korea Bizwire) – Samsung Heavy Industries unveiled its autonomous vessel prototype, the SHIFT-Auto, at a launching ceremony in Geoje, South Gyeongsang Province, the Ministry of Trade, Industry and Energy announced on November 21. The 12-meter vessel, designed to carry up to 12 passengers, showcases cutting-edge autonomous navigation technologies integrated from the design phase, [...]
SEOUL, Nov. 20 (Korea Bizwire) — The Navy will receive a new 8,200-ton destroyer armed with an advanced missile interception platform next week, officials said Wednesday, in a move expected to help bolster the military’s air defense capabilities against North Korean missiles. The Navy will receive the Jeongjo the Great destroyer, named after a visionary [...]
SEOUL, Nov. 18 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering Co., a major South Korean shipyard, said Monday it has secured a 340.3 billion-won (US$244.7 million) order to build two very large gas carriers (VLGCs) from an Asia shipper. HD Hyundai Heavy Industries Co., one of HD Korea Shipbuilding’s three shipbuilding units, will [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korean shipyards appear upbeat over potential opportunities to expand their business in America after U.S. President-elect Donald Trump’s call for more bilateral cooperation in the sector. In his phone conversation with South Korean President Yoon Suk Yeol following his election victory last week, Trump said the U.S. seeks to work [...]
SEOUL, Nov. 11 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Monday it has secured a 713.5 billion-won (US$511.6 million) deal to build two liquefied natural gas carriers, contributing to the company’s strong cumulative order value, the largest among South Korean shipbuilders this year. The 174,000-ton vessels will be built at Hanwha [...]
SEOUL, Nov. 9 (Korea Bizwire) – South Korean markets experienced sharp divergence on November 7 as Donald Trump’s election victory triggered significant movements across different sectors, with shipbuilding companies surging while clean energy stocks tumbled. The former U.S. president’s conversation with South Korean President Yoon Suk Yeol, during which he expressed interest in bilateral shipbuilding cooperation, [...]
BUSAN, Nov. 7 (Korea Bizwire) – The Busan Port Authority (BPA) announced on November 6 that it is launching a project to develop technology that will enable remote, unmanned operation of currently manned harbor cranes. Container port cranes, which are essential equipment for cargo handling operations, are divided into quay cranes that load and unload containers [...]
SEOUL, Oct. 31 (Korea Bizwire) — Samsung Heavy Industries Co., the world’s third-largest shipbuilder by orders, said Thursday it has received a liquefied natural gas (LNG) ship order for 358 billion won (US$259 million). Samsung Heavy will build the LNG carrier for an unidentified shipper in Asia by June 2027, the company said in a [...]
SEOUL, Oct. 30 (Korea Bizwire) — South Korea has cut steel for its third and last 3,600-ton-class naval submarine, the state arms procurement agency said Wednesday, amid efforts to bolster underwater defense capabilities against North Korean threats. The steel-cutting ceremony for the final series of three Changbogo-III Batch-II class submarines took place at shipbuilder Hanwha [...]
SEOUL, Oct. 15 (Korea Bizwire) — Container shipping costs from South Korea to China rose for the eighth consecutive month in September, the customs agency said Tuesday. The average shipping cost for a 40-foot container from South Korea to China climbed 17.6 percent on-month to 862,000 won (US$634.48) last month, according to the data from [...]