SEOUL, May 16 (Korea Bizwire) — Container shipping costs from Europe to South Korea rose more than 30 percent on-month in April amid ongoing tensions surrounding the Red Sea, the customs agency said Thursday. The average shipping cost for a 40-foot container from the European Union to South Korea went up 32.8 percent on-month last [...]
SEOUL, May 16 (Korea Bizwire) – HD Hyundai, a major South Korean shipbuilder, is accelerating its foray into the offshore wind industry by establishing an overseas manufacturing base. The company has decided to lease a portion of the land and facilities at the Subic Shipyard in the Philippines, aimed at expanding its production of offshore wind [...]
SEOUL, May 9 (Korea Bizwire) – HD Hyundai, in collaboration with Palantir Technologies, has unveiled its artificial intelligence-based unmanned surface vessel (USV), codenamed Tenebris, at the AI Expo for National Competitiveness held in Washington D.C. on May 7 and 8. The event, hosted at the Walter E. Washington Convention Center, attracted over 150 major U.S. defense [...]
SEOUL, May 7 (Korea Bizwire) — Officials from South Korean shipbuilder HD Hyundai Heavy Industries Co. have filed a criminal complaint against Hanwha Ocean Co. for alleged misrepresentation of facts and defamation in connection with the leak of military secrets, police said Tuesday. They lodged the complaint with the police Friday, alleging that Hanwha Ocean [...]
SEOUL, May 3 (Korea Bizwire) — South Korean shipbuilders have been exploring opportunities to enter the U.S. Navy’s maintenance, repair and overhaul (MRO) market, aligning with the United States’ efforts to revitalize its declining shipbuilding industry through collaboration with its Asian allies. HD Hyundai Heavy Industries Co. (HHI) and Hanwha Ocean Co. are pursuing partnership [...]
BUSAN, Apr. 24 (Korea Bizwire) – Eight out of ten South Koreans perceive their country as a maritime nation and believe that establishing long-term plans and expanding research and development (R&D) efforts are crucial steps toward becoming a maritime powerhouse, according to a survey conducted by the Korea Maritime Institute (KMI). Marking its 40th anniversary, the [...]
SEOUL, Apr. 17 (Korea Bizwire) — Hanwha Ocean Co., the world’s third-largest shipbuilder by order backlog, said Wednesday it has clinched a 176.4 billion-won (US$127 million) order to build a liquefied petroleum gas (LPG) carrier for a shipper based in the Americas. Hanwha Ocean will build the vessels at its shipyard in Geoje on the [...]
SEOUL, Apr. 15 (Korea Bizwire) — South Korea’s top container shipper HMM Co. said Monday it will push to expand its fleet sharply over the next seven years in a bid to boost its competitive edge and secure a stable business base. Under the mid- and long-term strategy, HMM will raise its container shipping capacity [...]
SEOUL, Apr. 15 (Korea Bizwire) — Container shipping costs from South Korea to Europe soared nearly 40 percent on-year in March amid ongoing tensions surrounding the Red Sea, the customs agency said Monday. The average shipping cost for a 40-foot container for the South Korea-European Union route came to 4.25 million won (US$3,077) last month, [...]
WASHINGTON, Apr. 11 (Korea Bizwire) — U.S. Secretary of the Navy Carlos Del Toro has noted South Korea’s capabilities to build high-quality ships, including warships, in a cost-effective way while voicing concerns that America’s shipbuilding capabilities have “atrophied” over the past decades. Toro made the remarks during an event organized by the Navy League in [...]