SEOUL, June 14 (Korea Bizwire) — Hyundai Vietnam Shipbuilding Co., a unit of South Korean shipbuilding, oil refining and machinery conglomerate HD Hyundai, said Wednesday it has recently clinched an order to build two oil and chemical tankers for an African shipping company. The latest order raises its cumulative orders to 199 vessels, a feat [...]
SEOUL, June 13 (Korea Bizwire) — South Korean shipyards are making various efforts to attract foreign workers in response to a shortage of manpower. The nation’s shipbuilding industry is expected to face a shortage of approximately 13,000 production workers in the third quarter of this year, according to the Korea Offshore & Shipbuilding Association. HD [...]
SEOUL, June 9 (Korea Bizwire) — South Korean ship service provider HD Hyundai Global Service Co. said Friday it has bagged a US$50 million order for the re-liquefaction of liquefied natural gas (LNG) carriers from a Norwegian shipper. The deal calls for installing re-liquefaction systems on five LNG vessels operated by Cool Company Ltd., also [...]
SEOUL, June 8 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering Co. said Thursday it has signed a series of eco-friendly agreements with global registers and shipping companies. HD Korea Shipbuilding said it signed a memorandum of understanding with Britain’s Lloyd’s Register, Norwegian shipper Knutsen and HD Hyundai Heavy Industries Co. on the lifetime [...]
SEOUL, June 8 (Korea Bizwire) — South Korean shipyard Samsung Heavy Industries Co. said Thursday it has won an approval in principle (AIP) for the conceptual design of a liquefied carbon dioxide (LCO2) carrier from a local certification agency. The AIP from the Korean Register (KR) means that Samsung Heavy Industries’ conceptual design of the [...]
SEOUL, June 7 (Korea Bizwire) — South Korean shipbuilders fell far behind their Chinese rivals in new global orders to place second worldwide in May amid sinking demand, industry data showed Wednesday. Local shipyards won a combined 510,000 compensated gross tons (CGTs) in new orders last month, accounting for 25 percent of the global total [...]
SEOUL, May 29 (Korea Bizwire) — In the area of methanol-powered ships, which have emerged as a game changer in the shipbuilding industry, competition is heating up between South Korea and China. HD Hyundai Heavy Industries Co. held a keel-laying ceremony last week to place the first block of a methanol dual fuel container ship [...]
SEOUL, May 23 (Korea Bizwire) — Major South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) was rebranded as Hanwha Ocean Co. on Tuesday, opening a new era as a unit of Hanwha Group, the seventh-largest conglomerate in the country. The embattled shipyard also appointed Kwon Hyuk-woong, president of Hanwha’s support division, as its [...]
SEOUL, May 15 (Korea Bizwire) — HMM Co. said Monday its first-quarter earnings tumbled more than 90 percent on-year on sluggish shipping rates amid decreased cargo volume. Net profit came to 285.3 billion won (US$214 million) in the January-March period, down 90.9 percent from a year earlier, South Korea’s top container shipper said in a [...]
SEOUL, May 10 (Korea Bizwire) — South Korea held a ceremony Wednesday to christen a new liquefied natural gas (LNG) bunker vessel equipped with a homegrown advanced cargo system, the industry ministry said. The Blue Whale ship was constructed at the dockyard of Hyundai Heavy Industries Co. in the southern port city of Ulsan for [...]