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Archive by category Shipbuilding

Chinese Shipyards Dominate Global Orders as Korean Shipbuilders Focus on High-Value Projects

SEOUL, Jan. 27 (Korea Bizwire) — In 2024, seven of the world’s top 10 shipbuilders by order volume were Chinese, reflecting a shift in global shipbuilding dynamics as Chinese shipyards capitalized on volume-based strategies, according to data released on January 26 by UK-based Clarkson Research. The top four shipyards—New Times Shipbuilding, Hudong-Zhonghua Shipbuilding, Yangzijiang Shipbuilding, and [...]

HD Hyundai Marine Solutions Launches AI-Based Route Optimization Solution on Shipping Vessels

SEOUL, Jan. 24 (Korea Bizwire) — HD Hyundai Marine Solutions, the marine solutions arm of HD Hyundai, announced on Wednesday that its artificial intelligence-based route optimization system, OceanWise, will be deployed for the first time on vessels operated by leading South Korean shipping companies, SK Shipping and Hyundai Glovis. OceanWise utilizes big data and AI algorithms [...]

HD Korea Shipbuilding Wins 3.72 Tln-won Order for 12 LNG Container Ships

SEOUL, Jan. 23 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Thursday it has secured a 3.72 trillion-won (US$2.59 billion) order to build 12 liquefied natural gas container ships. The company said in a regulatory filing that the vessels were ordered by an unnamed European shipping company, though industry reports [...]

S. Korea Begins Project to Build Final Batch of Next-generation Frigates

SEOUL, Jan. 22 (Korea Bizwire) — The state defense procurement agency officially launched the fourth and final phase of its next-generation frigate project on Wednesday as part of efforts to replace the Navy’s aging warships. Defense officials and companies involved in the project gathered at Hanwha Ocean Co.’s headquarters in Geoje, 329 kilometers southeast of [...]

S. Korea on Track in Preparing for Major Global Maritime Conference

SEOUL, Jan. 20 (Korea Bizwire) — The oceans ministry said Monday it will spare no effort to successfully prepare for a global maritime conference scheduled to be held in the country this April, providing a venue for countries and civic societies to discuss the future of the sector. The 10th Our Ocean Conference (OOC) will [...]

South Korea’s Shipbuilding Giants Achieve Milestone Profits Amid Industry Boom

SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s top three shipbuilders are expected to report collective annual profits for 2024, marking the first time in 13 years that the trio—HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean, and Samsung Heavy Industries—have all turned a profit. The achievement comes amid a “super cycle” in the global shipbuilding [...]

HD Hyundai Advances Hydrogen Commercialization with Breakthrough in Shipboard Liquid Hydrogen Tanks

SEOUL, Jan. 15 (Korea Bizwire) — HD Hyundai has made significant strides in accelerating hydrogen commercialization by successfully developing shipboard liquid hydrogen tanks and vacuum insulation technology. HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai’s shipbuilding division, announced on January 13, 2025, that it has received Approval in [...]

S. Korea Begins Upgrade of 4,400-ton Destroyers with Homegrown Technology

SEOUL, Jan. 15 (Korea Bizwire) — The state arms procurement agency has kicked off a project to renovate the Navy’s 4,400-ton warships with homegrown technology for enhanced efficiency in operating the fleet, officials said Wednesday. A meeting to discuss details of the upgrade for the Chungmugong Yi Sun-sin-class destroyers took place at the office of [...]

S. Korea-China Route Container Shipping Cost Falls in Dec.

SEJONG, Jan. 15 (Korea Bizwire) — Container shipping costs from South Korea to China decreased in December compared with a month earlier, reversing the upward trend, the customs agency said Wednesday. The average shipping cost for a 40-foot container from South Korea to China fell 1.1 percent from a month earlier to 8 million won [...]

South Korea Eyes U.S. Partnership to Bolster Booming Shipbuilding Sector

SEOUL, Jan. 10 (Korea Bizwire) — South Korea is ramping up its global leadership in shipbuilding by forging a new partnership with the United States and advancing next-generation maritime technologies. The government announced plans to establish a cross-departmental task force to strengthen collaboration with Washington, particularly in ship maintenance, repair, and overhaul (MRO), aligning with [...]