South Korea
Hayfin invests in up to four methanol-ready Suezmaxes
Europe’s shipping investor Hayfin has placed an order for up to four ‘enhanced methanol ready’ Suezmax tankers at South Korean shipbuilder Hyundai Heavy Industries (HHI). The contract includes two firm 158,000-dwt tankers and options for two more sister vessels with the delivery of the firm units sc
South Korea sees first-ever simultaneous LNG bunkering operations on bulkers
For the first time in Korea, simultaneous operations (SIMOPs) of ship-to-ship LNG bunkering were conducted for a coal-carrying bulk carrier at the POSCO raw material dock, Gwanyang port.
Hyundai Glovis gears up for $1.85 billion investment in world’s largest dual-fuel car carriers
Hyundai Glovis, the logistics unit of South Korean auto giant Hyundai Motor Group, is allocating $1.85 billion for the acquisition of 12 LNG dual-fuel car carriers. The decision on the planned investment, approved during a board meeting held on October 26, 2023, represents a strategic move to bolste
SHI’s machinery monitoring system gets ABS’ blessing
Samsung Heavy Industries’ (SHI) machinery health monitoring system (SMHMS) has received the ABS SMART (MHM) Tier 2 approval in principle (AIP) for machinery health monitoring.
HCC announces H2/NH3 supply chain from Canada to South Korea
Hydrogen Canada Corporation (HCC) has closed its C$10 million seed round financing and signed a letter of commitment on an offtake agreement with South Korea-based E1 Corporation (E1), to develop a low-carbon hydrogen/ammonia supply chain from Western Canada to South Korea and other Asian markets. I
HD KSOE scores $171 million order for two crude carriers
South Korean shipbuilder HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has secured an order for the construction of two crude carriers.
Hanwha Ocean wins approval for onboard CO2 capture system
The Korean Register (KR), in collaboration with the Marshall Islands Registry, has granted Approval in Principle (AiP) for an onboard CO2 capture system (OCCS) developed by Hanwha Ocean during Kormarine 2023 in Busan, South Korea. With the International Maritime Organization (IMO) and the European U
Better contracting conditions and high activity back Fugro
Fugro’s revenue for the third quarter of 2023 is €608.9 million, an increase from €480.2 million reported in the same quarter of 2022 – a result said to be due to better contracting conditions, high activity levels and good project execution. Fugro reported that its revenue was up by 32.6% on a curr
DNV, SHI to establish center for autonomous ship project
South Korean shipbuilder Samsung Heavy Industries (SHI) and classification society DNV have inked a Memorandum of Understanding (MOU) committing to establish a remote operation center (ROC) for real-time monitoring and control of maritime autonomous surface ships (MASS).
Saudi Arabia and Korea shake hands on clean hydrogen cooperation
Korea’s Ministry of Trade, Industry and Energy (MOTIE), energy institutions, and companies have signed two agreements and five memorandums of understanding (MoUs) with their Saudi counterparts to widen clean hydrogen cooperation. The agreements and MoUs were signed on October 22 on the occasion of t
HD Hyundai seals $3.9 billion deal with Qatar, as Hanwha, SHI ramp up talks for 30 more LNG carriers
South Korean shipbuilding major HD Hyundai Heavy Industries has signed the contract for the construction of 17 liquefied natural gas (LNG) carriers with Qatar Energy worth a staggering $3.9 billion. The contract signing was held on Wednesday as part of South Korea’s President Yoon Suk Yeol’s state v
ORLEN adds two new LNG carriers to its fleet
Poland’s ORLEN Group is expanding the company’s presence in the global liquefied natural gas (LNG) market with two new fleet additions, LNG carriers (LNGCs) named ‘Saint Barbara’ and ‘Ignacy Łukasiewicz.’ LNG carrier ‘Saint Barbara’ pays homage to the patron saint of miners, oil and gas workers, whi