ULSAN, Apr. 4 (Korea Bizwire) — South Korean shipbuilder HD Hyundai Heavy Industries Co. on Thursday delivered a 3,000-ton diesel submarine to the Navy, which will serve as a key asset to deter threats posed by North Korea. The submarine, named after famous Korean independence activist Shin Chae-ho (1880-1936), was delivered to the Navy at [...]
SEOUL, Apr. 3 (Korea Bizwire) — South Korea’s top container shipper HMM Co. said Wednesday it has signed a deal with global terminal operator Shanghai International Port Group (SIPG) on cooperation in the supply of eco-friendly fuel for the Chinese port. The memorandum of understanding calls for HMM to cooperate with SIPG in providing clean [...]
SEOUL, Apr. 3 (Korea Bizwire) — South Korean shipbuilders ranked first in new global orders in the first three months of 2024 in terms of value, outpacing their Chinese rivals, data showed Wednesday. Local shipyards won US$13.6 billion in new orders over the January-March period, up 41.4 percent on-year, according to the Ministry of Trade, [...]
SEOUL, Apr. 2 (Korea Bizwire) – Hanwha Group, South Korea’s chemical-to-defense industry conglomerate, sees a good chance of acquiring Australian shipbuilder Austal, as it has expanded defense businesses in Australia, including a deal for K9 self-propelled howitzers, a group official said Tuesday. “Given that Hanwha Group is in the process of carrying out defense projects [...]
SEOUL, Apr. 2 (Korea Bizwire) — Hanwha Ocean Co., the world’s third-largest shipbuilder by order backlog, said Tuesday it has bagged an order worth 1.24 trillion won (US$919.6 million) to build four liquefied natural gas (LNG) carriers for an Asian shipper. Hanwha Ocean said it will build the vessels at its shipyard in Geoje on [...]
SEOUL, Mar. 29 (Korea Bizwire) — South Korean shipbuilder HD Hyundai Heavy Industries Co. said Friday it has received a US$463 million order in Peru to jointly build four warships with a local shipyard by 2029. Peru’s state-owned shipbuilder SIMA Peru S.A. placed the order for joint production of one 3,400-ton frigate, one 2,200-ton deepwater [...]
SEOUL, Mar. 18 (Korea Bizwire) — Major South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Monday it has bagged a 489.6 billion-won (US$372 million) order to build three very large ammonia carriers for an Oceanian shipper. HD Hyundai Heavy Industries Co., one of HD Korea Shipbuilding’s three shipbuilding units, will construct the [...]
ULSAN, Mar. 15 (Korea Bizwire) – The Ulsan Port Authority celebrated the completion of the ‘North New Port Liquid Terminal’ in Hwangseong-dong, Nam-gu, at the North Port of Ulsan on March 15. The new facility, boasting a 300-meter quay wall, a 440-meter sheltered harbor, and a 12,600 square meter port hinterland, represents a significant enhancement [...]
SEOUL, Mar. 15 (Korea Bizwire) — Container shipping costs from Europe to South Korea soared nearly 40 percent in February amid continued tensions surrounding the Red Sea, data showed Friday. The average shipping cost for a 40-foot container for the route jumped 38.7 percent on-month to 1.24 million won (US$934.16) last month, according to the [...]
SEOUL, Mar. 4 (Korea Bizwire) — South Korean shipper HMM Co. said Monday it has signed a “green sailing service” deal with German logistics firm HellMann for the trading of reduced carbon emissions. HMM, South Korea’s top container shipping company, said it marks the company’s first-ever green sailing service contract. HMM didn’t disclose the amount [...]