South Korea
South Korean shipbuilders grabbed lion’s share of eco-friendly orders in 2022
South Korean shipbuilders secured the largest market share for high-value-added, eco-friendly vessel orders in 2022, bagging 58 percent of the total ordering tally for the year. This equals 149 vessels or 12.0 million compensated gross tonnage (CGT) out of 270 vessels (20.8 million CGT) ordered in 2
KSOE and partners to work on hydrogen and fuel cells
Korea Shipbuilding and Offshore Engineering (KSOE), a research-oriented intermediate holding company of the Hyundai Heavy Industry (HHI) Group, Germany’s Fraunhofer Institute for Ceramic Technologies and Systems (IKTS), and European solid oxide systems (SOC) producer ELCOGEN have agreed to collabora
ABS, HD Hyundai team up on autonomous technology for ships
American classification society ABS and South Korean HD Hyundai have signed a memorandum of understanding (MoU) to collaborate on autonomous technology for ships.
Report: Hanwha, KSOE eye controlling stake in STX Heavy Industries
South Korea’s defense and energy conglomerate Hanwha Group is reportedly looking to acquire a controlling share in compatriot marine engine maker STX Heavy Industries. Hanwha has set sights on buying a 47.81 percent share in the company from a local equity firm Pinetree Partners worth an estimated K
Hyundai Heavy Industries Group changes its name
South Korean Hyundai Heavy Industries Group has changed its name to HD Hyundai, the company said in a regulatory filing. According to Korean media reports, the name change coincides with the 50th anniversary held in Seongnam, Gyeonggi Province, which served as the stage for the company to declare it
Hyundai showcases LNG-hydrogen engine, sets sights on fully hydrogen-powered engine in 2025
One of the world’s largest shipbuilders Hyundai Heavy Industries Group has validated the performance of a 1.5MW class LNG/hydrogen hybrid engine (HiMSEN) developed by proprietary technology. The company marked a major milestone last week with the completion of the performance verification of the hyb
ASYAD books 5th generation LNG carrier duo at Hyundai Samho
ASYAD Shipping, a part of Oman’s national logistics provider ASYAD Group, has signed an agreement with South Korea’s Hyundai Samho Heavy Industries for the construction of two liquefied natural gas (LNG) carriers. According to a stock exchange filing, the order for two LNG carriers was placed on 21
Avikus emerges as latest member of One Sea alliance
Autonomous shipping alliance One Sea has welcomed South Korea’s Avikus, a subsidiary of Hyundai Heavy Industries Group (HHI Group), as its latest member. One Sea Secretary General Sinikka Hartonen said: “Welcoming Avikus on board is an exciting development which brings in participation from one of o
Hanwha concludes deal for DSME takeover
South Korea’s defense and energy conglomerate Hanwha Group has signed a $1.5 billion deal for the acquisition of a controlling stake in compatriot shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME). The troubled shipbuilder has been controlled by the state-run Korea Development Bank (KDB)
HMM readies order for methanol-powered newbuilds
South Korean shipping major HMM is preparing an order for new containerships powered by alternative fuels as part of its future growth strategy. The strategy was announced in July this year with HMM assigning $11.3 billion for future investments, including expansion of its eco-friendly ships from th
Report: South Korea needs to end public financing for fossil-fueled ships, including LNG
If Korea, the leading shipbuilder in the world, fails to rapidly embrace the clean energy transition in ocean shipping, it risks losing its foothold and dominance in the shipping and shipbuilding industries, a newly issued report says. The report was developed by Solutions for Our Climate (기후솔루션) an
DSME joins hands with POSCO on eco-friendly shipbuilding materials
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has signed a business agreement with compatriot steel-making company POSCO to establish a cooperative system for the development and application of new materials for shipbuilding.