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
Rescuers struggle with waves, murky waters; Captain faces charge of abandoning South Korean ferry. About 290 people still missing, many of them teenagers. Rescuers struggled with strong waves and murky waters on Thursday as they searched for hundreds of people, most of them teenagers from the same school, still missing after a South Korean ferry capsized 36 hours ago. Coastguard, navy and private divers scoured the site of the accident
Taiwan’s Evergreen Marine Corp. has authorized one of its huge container ships to berth at Shahid Rajaei port in southern Iranian province of Hormozgan, reports Press TV. Ebrahim Idani, director general of Hormozgan Ports and Maritime Department, was quoted by Iranian media as saying on Tuesday that the fifth-generation container ship, Ever Legion, has started its journey from China’s Shanghai port and will call at various ports in Hong Kong, Taiwan, Malaysia
Korea and Denmark both have ambitious national plans for a transition to greener and more energy efficient economies. The Danish-South Korean Green Growth Alliance met for roundtable talks. The Minister for Business and Growth’s meeting with the South Korean Minister of
The Danish-South Korean Green Growth Alliance met for roundtable talks yesterday. The Minister for Business and Growth's meeting with the South Korean Minister of Oceans and Fisheries is important for further developing the close co-operation.
National Shipping Company of Saudi Arabia (Bahri) is in talks with banks to raise around 2.8 billion riyals ($747 million) from a long-term loan to be used towards vessel financing, two sources aware of the matter said on Wednesday. Bahri became the sole provider of very large crude carrier
While merger talks between South Korean shipping companies Hanjin and Hyundai Merchant Marine lines hit the newspapers, the latter has refuted rumors that the government asked the carrier to merge with the former. HMM said, "With regards to the report in Korea Economic News
South Korean shipbuilders, led by industry leader Hyundai Heavy Industries Co., clinched the largest amount of new orders in May, retaining the top spot for the fourth consecutive month, BusinessKorea reported based on industry sources, including Clarkson Research Services.
North Korea has test-fired newly deployed anti-ship rockets - three short-range KN-01 type missiles - with a reported range of 120km just weeks after the country claimed it tested a submarine-launched ballistic missile, , the North's media said.
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering said it has received an order for a new LNG carrier from a ship management specialist Chandris of Greece. The new deal calls for Daewoo to deliver the LNG vessel, able to carry 173,400 cubic meters of natural gas
Singapore-based Senat Shipping said on Friday it had done nothing illegal and that it was unreasonable to be put on a U.S. sanctions list for alleged connection with a blacklisted North Korean shipping company. The U.S. Department of Treasury on Thursday listed Senat
South Korea has given the go-ahead for cruise ships to operate onboard casinos for foreign guests, , reports the Korea Joongang Daily newspaper. South Korean cruise vessels voyaging overseas will be able to operate casinos on board – but casino admission will be only for
Transas, one of the world's leading providers of integrated navigation solutions, received ECDIS type-approval from the Korean Registry (Korea Marine Equipment Research Institute), making Transas one of a few companies holding an ECDIS certificate from the South Korean maritime authority
South Korea said the submarines, comprising about 70 per cent of a North Korean submarine fleet, had left their home ports and were nowhere to be found. Military are increasing their surveillance capability to track them. Military sources said
A new liquefied natural gas (LNG)-bunkering terminal may become operational at South Korea's Busan New Port by 2020. South Korean shipping company Polaris Shipping will reportedly invest $500 million (KRW 600 billion) to construct the facility.
Danelec Marine's DM100 series Voyage Data Recorders (VDRs) has received type approval from the Korean Register of Shipping, the manufacturer annouced today. The Korean approval certifies that the DM100 VDR complies with provisions of the new IMO VDR standard which came into force in
Container shipper Hapag-Lloyd announced it has signed a 12-year $372 million facility agreement with a banking syndicate to finance the construction of five new vessels ordered from a South Korean shipbuilder Hyundai Samho Heavy Industries (HSHI) in April 2015.
South Korean shipbuilders have ranked first in the world outpacing Chinese and Japanese rivals in terms of new orders in the third quarter of the year, reports Yonhap quoting Clarkson Research Services. South Korean shipyards bagged new orders totaling 2