Korea Gas Corporation (KOGAS) has teamed up with compatriot shipping lines on a floating storage and regasification unit (FSRU) business cooperation. The move targets to revive Korean shipping and shipbuilding industries which have been considerably impacted by the ongoing troubles in the maritime i
South Korea’s STX Offshore & Shipbuilding has won an order for four 50,000 deadweight tonnage (DWT) midsize tankers as it steps up its efforts to business recovery. The order, worth USD 140 million, has been placed by a Greek owner Oceangold Tankers, according to Asiasis. The newbuild tankers, price
The first ship featuring International Maritime Organisation’s Tier III EIAPP (Engine International Air Pollution Prevention) certified Wärtsilä diesel engines was launched on July 12. The 72-metre polar logistics vessel L’Astrolabe is fitted with a complete Wärtsilä propulsion machinery package and
The influx of new orders at shipbuilding yards in China has dropped by 29 percent during the first half of this year, standing at 11.5 million DWT, resuming the downward trend. At the end of June, the order backlog stood at 82.24 million DWT, down 30.5% year on year, according to the figures release
Damen Shipyards Group has paid EUR 23.5 million (USD 27.6 million) for the acquisition of Keppel’s Verolme shipyard in the Netherlands, Keppel Offshore & Marine said in its half-year report. As disclosed by the company, the sale was part of Keppel O&M’s efforts “to rationalize its global yard networ
The shipbuilding orderbook value for the first half of this year of South Korean shipbuilding major Hyundai Heavy Industries (HHI) totaled in USD 1.65 billion, up by 67 percent when compared to last year’s figures. HHI said in its interim report for the first six months of this year that the group’s
The number of active shipyards on a global scale has dropped by 62 percent since the beginning of 2009, according to Clarksons shipping consultancy. Specifically, there was a total of 358 active yards, defined as having at least one unit under construction, as of July 2017, a slashed figure when com
The recently coined cooperation between Hoegh LNG and Qatar Gas Transport Company (Nakilat) is likely to result in the construction of new floating natural gas import terminals, according to Hoegh LNG’s CEO Sveinung Stohle cited by Reuters. The parties said that they signed a Memorandum of Understan
South Korean shipbuilder Samsung Heavy Industries (SHI) revealed it has inked a shipbuilding contract for two vessels with an unnamed shipowner. As informed, the contract value is KRW 271 billion (around USD 242 million). The agreement remains conditional and is subject to final approval of the ship
Vietnam-based Hyundai-Vinashin Shipyard, a joint venture between Hyundai Heavy Industries and Vietnam Shipbuilding Industry Corporation, has reportedly secured five tanker orders over the past week from three Japanese shipowners. Namely, Fukujin Kisen and Masumoto Shipping are linked to an order for
National Shipping Company of Saudi Arabia (Bahri) has further expanded its fleet with the addition of a 300,000-dwt very large crude carriers (VLCC) Aslaf. Bahri took delivery of the new vessel at HHI’s Mokpo shipyard in South Jeolla Province, South Korea, bringing the number of VLCCs in its fleet t
Ichthys Venturer, the INPEX-operated Ichthys LNG Project’ floating production, storage and offloading (FPSO) facility, sailed away on July 18 from waters near its construction site in Okpo, South Korea, en route to Australia. This follows the completion of commissioning and preparation work, accordi
South Korea’s shipbuilder Hyundai Heavy Industries (HHI) has developed Integrated Smart Ship Solution (ISSS), its ICT technology capable of realizing economical and reliable navigation and management of ships. ISSS standardizes ways of navigation varying depending on levels of skills and experiences
The mid-sized niche carriers have seen a 12.8% increase in deployed capacity during the first six months of 2017, market intelligence provider SeaIntel Maritime Analysis informed. An analysis of capacity injections over the period showed that this segment, consisting of the 21st-40th largest shippin
