SEOUL, May 23 (Korea Bizwire) — Samsung Heavy Industries Co., a major South Korea shipyard, said Monday that it has clinched a US$100 million deal to build two LNG carriers. Under the deal with South Korean shipper Korea Line Corp., Samsung Heavy will build the ships by December 2019, the company said. The ships, which [...]
JEJU, South Korea, April 28 (Korea Bizwire) – A ceremony was held here Thursday for the construction of liquefied natural gas (LNG) storage facilities and distribution pipelines that aim to provide the southern resort island with a cleaner source of power by mid-2019. The work involves building two storage tanks and pipelines capable of distributing 120 tons of LNG per hour on 74,786 square meters of reclaimed [...]
SEOUL, March 2 (Korea Bizwire) – An expected rise in demand for liquefied natural gas (LNG) is likely to boost demand for LNG carriers, which in turn will help South Korean shipbuilders clinch more LNG ships and related facilities, industry sources said Thursday. Earlier, Royal Dutch Shell, a global oil and gas firm, has said [...]
SEOUL, Nov. 21 (Korea Bizwire) – The increase of single-person households in Korea has brought about another change in household consumption – the declining use of natural gas (liquefied natural gas). According to the Korea City Gas Association and other industry sources, although the number of households in Korea increased from 10.95 million in 2005 [...]
SEOUL, Nov. 16 (Korea Bizwire) – South Korea said Wednesday that it will push to build more ships powered by liquid natural gas (LNG) and develop the relevant technologies in an effort to go green amid looming strict emission rules. The move came a month after the International Maritime Organization adopted a landmark decision to [...]
SEOUL, Nov. 8 (Korea Bizwire) – The world’s first icebreaking liquid natural gas (LNG) carrier set sail Tuesday, heading to the Arctic Sea for testing. The ship was manufactured by Daewoo Shipbuilding & Marine Engineering, who won the order from Russia’s state-run shipper Sovcomflot in March 2014. According to officials, the tanker is 299 meters [...]
PRINCE GEORGE, BC and PRINCE RUPERT, BC, Oct. 1 (Korea Bizwire) – First Nations elected and Hereditary Chiefs from across Northern British Columbia have joined together to sign a historic letter that declares their support for the development of a multibillion-dollar energy pipeline corridor through their traditional territories by Eagle Spirit Energy. “The energy corridor [...]
SEOUL, May 8 (Korea Bizwire) — Hi-FIN, an energy-saving propeller attachment, is gaining massive popularity from ship owners. Developed in-house by Hyundai Heavy Industries, the installation works to improve propulsion power by producing a vortex swirling in the opposite direction to the vortex made by a ship’s propeller, which is a main contributor to fuel [...]