According to a June 18 report from Reuters, the United States is monitoring a North Korean ship for weapons and has deployed anti-missile assets to the Pacific in case Pyongyang launches more missiles, U.S. officials said. The U.S. Navy is monitoring a vessel called Kang Nam at sea under new U.N. sanctions that bar North Korea from exporting weapons, including missile parts and nuclear materials, they said. (Source: Reuters)
Ninety North Korean vessels were granted certificates to enter Japanese ports in the eight months since a new law that bans entry of any ship without insurance took effect, according to a Daily Yomiuri report. The law on liability for oil pollution damage, which came into force on March 1, requires vessels of 100 tons or larger to be insured before docking in Japan. It had been viewed as a de facto economic sanction
South Korea’s major shipping companies benefited in 1999 from freight rate hikes and lower foreign debt service costs resulting from the won’s surge against the dollar, analysts said. However, they said, expectations of rising shipping capacity following more deliveries of new ships would weigh down the growth of revenues for shipping firms this year. Container shipping rates rose about six percent on average last year, which is in line with the country’s recovering exports, one analyst said
European Union (EU) and South Korean officials meet next week to try to settle a row over alleged subsidies to Korean shipyards and avert an EU threat to take the dispute to the World Trade Organization. Negotiators meet in Brussels on Monday and Tuesday. It could be the last chance for an amicable solution of the row over the EU's allegations that Seoul pays its shipbuilders illegal subsidies, subsidies which it says threaten the existence of European competitors
Combined orders received by South Korean shipbuilders totaled 12.72 million gt for 227 ships in 1999, up 127.2 percent from a year earlier, according to the Korea Shipbuilders' Association said. New orders received in December alone totaled 3.71 million GT for 66 ships, the association said in a statement. Ships completed in 1999 amounted to 9.48 million gt for 163 ships, up from 7.28 million gt for 143 ships a year earlier, it said
According to the Washington Post, Pirates captured a South Korean-flagged fishing vessel off the coast of Somalia on Tuesday and efforts by a U.S. Navy ship and a Dutch vessel to intervene were abandoned when members of the South Korean crew were threatened with guns and the ship slipped into Somali territorial waters, the Navy said. It was the latest in a series of incidents off the coast of Somalia. On March 18, two U.S
A South Korean ship manufacturer is mulling a project to develop a large-scale shipyard in the coastal central province of Khanh Hoa that should be able to build giant vessels of up to 400,000 DWT, a local official said. A source from the provincial Service of Planning and Investment said South Korea’s STX Shipbuilding Co., a member of STX Group, has proposed to develop a shipyard costing $500m at Van Phong Bay. The proposal has received preliminary support from the provincial
Alfa Laval, a heat transfer, centrifugal separation and fluid handling, has received two orders of record size for Alfa Laval PureBallast systems from two leading ship yards in Korea. The systems will be installed on board 14 vessels built for A.P Møller – Maersk. The total order value is about 80 MSEK and the delivery is scheduled for 2011 and 2012. “These are groundbreaking orders in many ways,” said Lars Renström, President and CEO of the Alfa Laval Group
According to a report from The Korea Times, a South Korean fishing boat was hijacked by Somali pirates Oct. 9 in waters off Lamu, Kenya, which was considered a relatively safe maritime area, the Ministry of Foreign Affairs and Trade said. Two South Koreans identified only by their surname Kim — one, the 54-year-old owner of the ship and the other, the 67-year-old captain — were on board the 241-ton trawler Keummi 305. Also on board were two Chinese and 39 Kenyans.
Tanker owners, as reflected in global market share, prefer to order from Korean shipyards according to a recent analysis According to a Gibson market report, quoted by KOMEC-Korea, as many as half of China's shipbuilders are likely to go out of business over the next two to three years. Korean yards have taken 55% of all new tanker orders placed so far this year. As demand for Eco ships or more specialised tonnage takes off, it is Korean yards which are likely to benefit the most.
Australia's Padbury Mining Ltd said it had secured almost $6.5 billion in funding to build a new deepwater port and railway at Oakajee in Western Australia, potentially opening a new export hub for the region's iron ore riches. Plans for a port at Oakajee in Western Australia's Midwest
Today in U.S. Naval History - April 14 1898 - Commissioning of first Post Civil War hospital ship, USS Solace 1969 - North Korean aircraft shoots down Navy EC-121 reconnaissance aircraft from VQ-1 over the Sea of Japan 1988 - USS Samuel B. Roberts struck Iranian mine off Qatar
A passenger ferry carrying about 470 people was listing badly off South Korea's southwest coast and had sent a distress signal, a Korean coast guard official said on Wednesday, and a rescue mission was underway. Korean television news reports said the ferry was sinking and that many of the
South Korea's Samsung Heavy Industries said on Wednesday that it is proceeding with a project worth 642.9 billion won ($617.67 million) to build seven container ships as planned. The shipbuilder won the order from Chilean shipping firm Compania Sudamericana de Vapores (CSAV) a year ago
A North Korean-flagged tanker has finished loading crude at the Libyan rebel-controlled port of Es Sider but has not yet left the terminal, Libyan oil officials said on Monday. Libya's government has threatened to bomb the Morning Glory should the tanker try sailing off with crude from the
The Danish Export Association’s Diploma, and His Royal Highness Prince Henrik’s Medal of Honor, was awarded to VIKING Life-Saving Equipment’s Korean representative, J.W. Lee, for close to thirty years’ of successful business partnership.
Rebels deny losing control of North Korean-flagged tanker; Government says tanker being taken to western port. Oil blockade has slashed vital government revenues. By Ulf Laessing and Ghaith Shennib Libya on Monday stopped a North Korean-flagged tanker that had loaded oil from a rebel-held
Herbert-ABS Software Solutions LLC, a company in marine regulatory, load management, salvage and ship design software, said it has opened an office in Busan to reinforce support for Korean-based shipyards, as well as improve the quality of service to this key market
The Korean Register (KR), an IACS member classification society, announced that it has again donated its award winning KR-CON software to students at the World Maritime University (WMU). KR-CON is an international database program which contains the full up-to-date texts of all IMO Conventions
Daewoo Shipbuilding & Marine Engineering (DSME) has won the first battle in the war among the shipbuilders to obtain orders for vessels to participate in the Russian Arctic 'Yamal Project' by getting the world’s first order for an icebreaking LNG carrier, reports BusinessKorea.
The past week was relatively quiet with no shipbuilding orders seen in the tankship or gas carrier sector, according to the latest Clarkson Hellas S&P Weekly Bulletin. Details as follows: Dry bulk ships A large order of twelve firm plus eighteen option 64
IACS member classification society the Korean Register (KR) informs of the release of SeaTrust-HullScan, its ground-breaking software solution to analyze and appraise a vessel’s hull structure in accordance with the new harmonized common structural rules (CSR-H).
A Mongolian-flagged cargo ship has sunk off the southern coast of South Korea, with most of the 16 North Korean crew members on board missing, according to South Korean coast guard officials Two crew members were found dead and three were rescued
Samsung Heavy Industries Co Ltd said on Wednesday it won a 1.34 trillion won ($1.27 billion) order to build two drillships for an unnamed firm based in or near Australia. The South Korean shipbuilder said in a regulatory filing the contract was expected to be completed by June 2017. ($1 = 1052
Samsung Heavy Industries Co Ltd said on Wednesday it won a 1.34 trillion won ($1.27 billion) order to build two drillships for an unnamed firm based in or near Australia. The South Korean shipbuilder said in a regulatory filing the contract was expected to be completed by June 2017