SEOUL, May 9 (Korea Bizwire) — South Korean shipyards lagged far behind their Chinese rivals in terms of new global orders to place second in the world in April amid plunging demand, industry data showed Tuesday. Local shipbuilders clinched a combined 380,000 compensated gross tons (CGTs) in new orders last month, taking up 20 percent [...]
SEOUL, May 3 (Korea Bizwire) — South Korean shipyard Samsung Heavy Industries Co. has successfully developed a new floating liquefied natural gas (FLNG) facility model with shorter delivery times. The company announced on Tuesday it obtained a certification for its FLNG facility model from DNV, a Norwegian ship quality assurance and risk management company, at [...]
SEOUL, April 28 (Korea Bizwire) — Major South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Friday it will expand its research and development (R&D) spending in Europe to secure future shipbuilding and maritime technologies. To that end, HD Korea Shipbuilding will spend 15 million euros (US$16.5 million) on its European research institute [...]
SEOUL, April 27 (Korea Bizwire) — The South Korean antitrust regulator’s conditional approval of the plan to take over Daewoo Shipbuilding & Marine Engineering Co. (DSME) removes the last hurdle for Hanwha Group’s push to become a global leader in the defense and energy sector. But it also leaves Hanwha, the seventh-largest conglomerate in the [...]
SEOUL, March 7 (Korea Bizwire) — South Korea recaptured the No. 1 spot in global shipbuilding orders in February, industry data showed Tuesday, thanks to its dominance in the liquefied natural gas (LNG) carrier market. Local shipyards won orders totaling 1.56 million compensated gross tons (CGTs) to build 34 ships, accounting for 74 percent of [...]
SEOUL, Feb. 22 (Korea Bizwire) — HMM Co., South Korea’s top container shipper, said Tuesday it had signed a business agreement with marine waste management company Foresys to establish a circular environment system using discarded mooring ropes. Large ships use dozens of thick mooring ropes when in port. HMM has been discarding about 20 tons [...]
SEOUL, Feb. 21 (Korea Bizwire) — South Korean shipyard HJ Shipbuilding & Construction Co. said Monday it has signed a memorandum of understanding (MOU) with the Korea Real Estate Investment & Trust Co. and Mirae Asset Securities Co. to cooperate for the invigoration of security tokens for ship financing. The three parties will unite forces [...]
SEOUL, Feb. 14 (Korea Bizwire) — South Korea’s top container shipper HMM Co. on Tuesday signed a 1.41 trillion-won (US$1.1 billion) deal with two local shipbuilders to build nine methanol-propelled container ships as part of its push to go carbon neutral. Under the deal, Hyundai Samho Heavy Industries Co., an affiliate of Korea Shipbuilding & [...]
SEOUL, Feb. 7 (Korea Bizwire) – South Korean shipbuilders lagged far behind their Chinese rivals in terms of new global orders to rank second in the world in February amid tumbling demand, industry data showed Tuesday. Local shipbuilders won a combined 640,000 compensated gross tons (CGTs) in new orders last month, accounting for 33 percent [...]
SEOUL, Feb. 5 (Korea Bizwire) — More than 2,000 foreign workers will be hired by South Korean shipyards this month in a measure to help resolve an acute workforce shortage, according to the Ministry of Justice and the Ministry of Trade, Industry and Energy on Sunday. The government issued E-7 and E-9 visas for the [...]