SEOUL, Feb. 10 (Korea Bizwire) – A U.S. nuclear-powered submarine arrived at a major southeastern naval base in South Korea on Monday to replenish supplies and provide rest for crew members, the South’s Navy said. The USS Alexandria, a Los Angeles-class attack submarine, entered the naval base in Busan, some 320 kilometers southeast of Seoul, [...]
SEOUL, Feb. 7 (Korea Bizwire) – South Korea ranked first in new global shipbuilding orders in January, outpacing its rival China, industry data showed Friday. South Korean shipyards clinched orders totaling 900,000 compensated gross tons (CGTs) for 13 ships, accounting for 62 percent of the global total at 1.46 million CGTs last month, according to [...]
SEOUL, Feb. 4 (Korea Bizwire) - South Korea’s Hanwha Group said Tuesday it has partnered with global energy technology firm Baker Hughes Co. for the joint development of a low-carbon ammonia gas turbine. Under the agreement, Hanwha Ocean Co. and Hanwha Power Systems Co. plan to expand their technological cooperation with Baker Hughes with a [...]
SEOUL, Feb. 3 (Korea Bizwire) —Hanwha Ocean Co. said Monday it has successfully delivered a large wind turbine installation vessel (WTIV) to global offshore wind farm builder Cadeler one month ahead of its planned delivery date. Ordered in 2021, the WTIV, measuring 148 meters in length and 56 meters in width, is capable of carrying [...]
SEOUL, Feb. 3 (Korea Bizwire) - The Navy held a ceremony on Monday to mark the establishment of a new fleet command aimed at better responding to North Korea’s military threats at sea, officials said. On Saturday, the Navy officially launched the Republic of Korea Navy Task Fleet Command, calling it a “core unit of [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]