SEOUL, July 1 (Korea Bizwire) — Hanwha Ocean Co. said Tuesday it has been selected as the preferred bidder to construct South Korea’s next-generation icebreaking research vessel, which is expected to significantly enhance the country’s polar exploration capabilities. The shipbuilder was selected as the preferred bidder for the project led by the Ministry of Oceans [...]
SEOUL, June 24 (Korea Bizwire) — South Korea will launch an educational exchange program inviting students and faculty members from major American universities starting next year to receive short-term training in shipbuilding engineering, Seoul’s trade ministry said Tuesday. The initiative comes as the two countries seek to deepen cooperation in the shipbuilding sector, which has [...]
SEOUL, June 22 (Korea Bizwire) — South Korea’s HD Hyundai has entered into a strategic partnership with a major U.S. shipbuilder, signaling deepening cooperation between the two allies in the wake of President Donald Trump’s re-election and renewed emphasis on domestic industrial revival. The company announced Saturday that it signed a comprehensive agreement with Edison Chouest [...]
SEOUL, June 18 (Korea Bizwire) — Samsung Heavy Industries Co. said Wednesday it has terminated ship equipment contracts worth 4.85 trillion won (US$3.54 billion) with Zvezda Shipbuilding Complex and plans to seek damages over what it called the Russian shipyard’s unilateral breach of contract. The contracts, signed in 2020 and 2021, covered the supply of [...]
SEOUL, June 10 (Korea Bizwire) -- HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Tuesday it has secured a 2.4 trillion-won (US$1.76 billion) order to build eight container ships for an Asian shipping company by 2028. The 15,900 twenty-foot equivalent unit (TEU) container carriers will be constructed at the shipyard of HD Hyundai [...]
SEOUL, June 10 (Korea Bizwire) — South Korea’s Hanwha Group said Tuesday it has received approval from the U.S. government to acquire up to a 100 percent stake in Australia-based shipbuilding and defense firm Austal, clearing a major hurdle in its push to expand its presence in the global defense market. The recent approval from [...]
SEOUL, June 2 (Korea Bizwire) — Hanwha Ocean Co., a major South Korean shipbuilder, said Monday it has partnered with Lloyd’s Register (LR) of Britain to strengthen cooperation on ship certification as part of its broader strategy to expand into Europe’s naval vessel markets. The companies signed a strategic memorandum of understanding (MOU) Friday during [...]
SEOUL, May 30 (Korea Bizwire) — HD Hyundai Samho Heavy Industries Co., a South Korean shipbuilder, said Friday it has secured a 386.8 billion-won (US$280 million) order to build two container carriers for a client in the Oceania region. The vessels will be delivered in phases to an undisclosed shipping company in Oceania by March [...]
SEOUL, May 29 (Korea Bizwire) — Hanwha Ocean Co., a major South Korean shipbuilder, said Thursday it has signed preliminary agreements with two Polish shipyards to cooperate on naval vessel construction and maintenance. The company signed separate memorandums of understanding (MOUs) with PGZ SW and Nauta Shipyard during the ongoing International Maritime Defense Industry Exhibition [...]
SEOUL, May 27, 2025 (Korea Bizwire) — As the United States intensifies its efforts to curb China’s shipbuilding dominance, global shipping giants are increasingly turning to South Korean shipyards for new vessel orders, according to industry sources and reporting by TradeWinds. Germany’s Hapag-Lloyd, the world’s fifth-largest container shipping line, had been considering placing new orders [...]