SEOUL, July 29 (Korea Bizwire) — Hyundai Mipo Dockyard Co. said Wednesday it will build a ship powered by electricity and other fuel with its own technologies by 2022 for the first time in the country to expand its presence in the ecoship market. Hyundai Mipo signed a deal with a local government to build [...]
SEOUL, Oct. 28 (Korea Bizwire) — South Korea’s ocean ministry said Monday it will gradually replace 140 government ships with those utilizing clean energy sources by 2030 to meet tighter regulations. “The project will help South Korea to reduce fine dust, greenhouse gas and air pollution, and contribute in developing technologies in the field of [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Korean shippers are considering joining hands to win massive liquefied natural gas (LNG) transportation orders to be placed by Qatar, industry sources said Sunday. Five bulkers — reportedly Korea Line Corp., Pan Ocean Co., SK Shipping Co., Hyundai LNG Shipping Co. and H-Line Shipping Co. — are set [...]
JEJU, Sept. 25 (Korea Bizwire) — The era of liquefied natural gas (LNG) has opened for Jeju island. On Tuesday morning, SM JEJU LNG No.1, a cargo ship carrying LNG, finally docked at the Korea Gas Corporation’s LNG Receiving Terminal in Jeju’s Aewol Port. The ship was made available on September 18 to exclusively transport LNG [...]
SEOUL, Sept. 24 (Korea Bizwire) — South Korea’s state-run Korea Gas Corp. signed a deal to import an additional US$9.6 billion worth of liquefied natural gas (LNG) from the United States for up to 18 years, in line with efforts to expand ties with the world’s top economy in the energy segment, Seoul’s trade ministry [...]
SEOUL, Jul. 9 (Korea Bizwire) — It’s no secret that South Korean shipbuilders are flying high in the liquefied natural gas (LNG) carrier market, having bagged more than 80 percent of global orders in recent years. But the real winner in the global LNG carrier market is Gaztransport & Technigaz (GTT) S.A., the world’s No. [...]
SEOUL, Apr. 15 (Korea Bizwire) — South Korea’s largest steelmaker POSCO said Monday that it will reorganize its liquefied natural gas (LNG) operations as part of its efforts to enhance its business efficiency. The company said in a regulatory filing that its board of directors last week approved the transfer of its LNG terminal in [...]
SEOUL, Mar. 19 (Korea Bizwire) — South Korea’s industry ministry said Tuesday it will sharply reduce the import surcharge imposed on liquefied natural gas (LNG) in line with the government’s efforts to control fine dust pollution. The Ministry of Trade, Industry and Energy said the new rules will cut the levy on the more environment-friendly [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s imports of liquefied natural gas (LNG) reached an all-time high in 2018 amid a spike in purchases from the United States, industry data showed Monday. The country’s LNG imports totaled 44.04 million tons last year, up 17.3 percent from the prior year and a new record high, [...]
SEOUL, Jan. 22 (Korea Bizwire) — The Ministry of Trade, Industry and Energy announced on Monday that it will include additional fine dust reduction measures in the 9th Basic Plan on Electricity Demand and Supply, which is to be established this year. The government plans to expand its policy to limit coal power plant output [...]