Korea News

Tanker shipping company Stena Bulk on Thursday announced the sale of the liquefied natural gas (LNG) carrier vessel Stena Blue Sky to an undisclosed Asian buyer.The sale of Stena Blue Sky follows the recent announcement that Stena Bulk had sold two LNG carriers to BW LNG.The successful transfer of Stena Blue Sky has already taken place. The vessel was delivered on April 18 in Singapore.Originally built in 2006 by Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea, Stena Blue Sky has a carrying capacity 145…

Wärtsilä Gas Solutions, part of technology group Wärtsilä, will supply cargo handling and fuel supply systems for three new large sized ethane gas carrier (VLEC) vessels being built for Purus.The ships are under construction at the HD Hyundai Heavy Industries (HHI) yard in South Korea.In line with the Purus’ emphasis on achieving net zero carbon emissions for its fleet by 2030, the new vessels are designed to be as efficient as possible in all respects.The Wärtsilä cargo handling…

The SMM 2024 trade show will run from September 3-6 this year, and organizers are expecting more visitors and exhibitors than last time; the exhibition halls are nearly fully booked.“We are expecting more than 2,000 international exhibitors from 70 nations,” says Claus Ulrich Selbach, Business Unit Director Maritime and Technology Fairs & Exhibitions at Hamburg Messe und Congress. “We are overwhelmed by the response. We are actually setting-up an additional hall to accommodate all requests.

South Korea remembered the 304 people, most of them school children, who died on the Sewol ferry on the 10th anniversary of its sinking on Tuesday, with families calling for a proper apology for the unnecessary deaths of their loved ones.Many parents attended a memorial service in the city of Ansan, home of the 250 children who died on the ferry during a school excursion, while another 37 family members boarded a Coast Guard ship that sailed to the scene of the disaster, marked by a lone buoy…

Chinese shipyard Guangzhou Shipbuilding International (GSI) has received an order for four MAN B&W 8S60ME-GI engines in connection with the building of four 10,800 CEU pure car and truck carriers (PCTC) for South Korean shipping owner, HMM Co. Ltd.CSIC Diesel Engine Co. Ltd (CSE) will build the Mk10.5 dual-fuel -GI (-gas injection) engines in China, which will feature exhaust gas recirculation (EGR) emissions-reduction technology for Tier III NOx compliance.Upon delivery, the PCTCs will go out on charter to Hyundai Glovis Co.…

Esgian reports on new contracts for Borr Drilling and Shelf Drilling (North Sea) jackups in its Week 15 Rig Analytics Market Roundup. Additionally, Energean has selected a drillship for its upcoming drilling campaign offshore Morocco. South America remains vital to the floating rig market, with ExxonMobil moving ahead on a sixth development on the prolific Stabroek block offshore Guyana and Petrobras reporting a new discovery in Brazil's Potiguar Basin.Report Outline:ContractsBorr Drilling has announced new contract commitments for three of its premium jackup rigs…

Flex LNG on Friday announce that the charterer of its liquefied natural gas (LNG) carrier Flex Endeavour has exercised an option to extend the firm period of the time charter by 500 days, from the third quarter 2030 to the first quarter of 2032. As announced on November 23, 2022, in connection with the extension of three ships, the charterer has one further option to extend the time charter period by one additional year to 2033.Øystein Kalleklev, CEO of Flex LNG Management AS…

For Lee Mi-kyung, whose son was one of the 250 children who died in South Korea's Sewol ferry disaster 10 years ago, coping with the grief and anger has been incredibly hard. She works through her pain on stage."I will no longer hide in darkness, nor be defeated by sorrow, nor cry in despair," Lee, 58, declares in a play in which seven mothers of children who died in the tragedy portray their journey of mourning.The play is one of five that Lee and other mothers have performed over the past eight years…

Chinese automakers and shippers are ordering a record number of car-carrying vessels to support a boom in EV exports, data showed, putting China on course to amass the world's fourth-largest fleet by 2028.China currently has the world's eighth-largest fleet with 33 car-carrying ships, showed data from shipping consultancy Veson Nautical. Japan has the world's largest with 283 ships, followed by Norway's 102, South Korea's 72 and Isle of Man's 61.But Chinese companies have 47 ships on order, accounting for a quarter of all orders globally.

DNV has awarded HD Hyundai Mipo Dockyard an approval in principle (AIP) for the design of ammonia dual fuel 45,000 m3 liquefied petroleum gas (LPG) carriers.The presentation took place at the HD Hyundai Global R&D Center (GRC) in Seongnam, Korea. HD Hyundai Mipo (HMD), who have developed the basic ship design, provided detailed engine specifications and operational data from global engine maker, WinGD, and reviewed the safety and suitability of the design with DNV. The designs are based around a new 10…

Esgian reports various drilling contractors disclosing details of discussions with Saudi Aramco regarding jackup contract suspensions in its Week 14 Rig Analytics Market Roundup. These contractors include Shelf Drilling, ADES, Borr Drilling, Arabian Drilling, COSL, and ARO Drilling.Meanwhile, Transocean, Noble, and COSL rigs have firmed up new work in the US Gulf of Mexico, Suriname, and the North Sea, respectively.Report overview:ContractsShelf Drilling has received a notice of suspension of operations on four jackup rigs from a customer in the Middle East.

DNV has presented HD Hyundai with a general approval for ship application (GASA) for a new high-strength composite hybrid support system for independent tanks on liquefied gas carriers.In a world-first, HD Hyundai’s concept is fabricated with a fusion of carbon fiber-reinforced plastics (CFRP) with a tensile strength 10 times greater than steel, significantly enhancing structural stability.The new system offers robust structural supports, enabling independent tanks to withstand upward force from floatation in case of hold space flooded.

Mitsui O.S.K. Lines (MOL) has started commercial operation of the floating storage and regasification unit (FSRU) Jawa Satu for the Jawa 1 LNG-fired power plant in Indonesia.MOL owns the FSRU through PT Jawa Satu Regas (JSR), jointly established by PT Pertamina (Persero), Marubeni Corporation, Sojitz Corporation, and other partners.Built by Samsung Heavy Industries in South Korea, the Jawa Satu FSRU has a storage capacity of 170,000 m3, with 300 MMcsfd of regasification capacity.The…

Wärtsilä Gas Solutions, part of technology group Wärtsilä, will supply the cargo handling systems for additional two new very large LPG carrier vessels to be built at the HD Hyundai Heavy Industries in South Korea.The ships have been contracted by Norwegian ship owner Solvang. The order follows a similar one placed in 2023 for five vessels being built at the same yard for the same owner.The very large gas carriers (VLGCs) are of Panamax size and form the next generation of eco-vessels.

Singapore-based Seatrium has secured a series of major contracts for vessel repairs, upgrades and conversions, set for completion by the end of 2025.With an aggregate value of S$350 million ($259 million), the contracts have reinforced Seatrium’s reputation as a one of the market leaders in vessel repairs, upgrades and conversions.The diverse range of complex contracts secured by Seatrium Repairs and Upgrades include the upgrades and conversions of Floating Storage Regasification Units (FSRU)…

U.S. shipping company Crowley has shared first renderings and the names of its four new dual fuel liquefied natural gas (LNG)-powered containerships: Quetzal, Copan, Tiscapa and Torogoz.The 1,400 TEU vessels were ordered in 2022 by Singapore-based Eastern Pacific Shipping (EPS) for scheduled delivery from South Korea’s Hyundai Mipo Dockyard in 2025.EPS will charter the ships out to Crowley, who will deploy them on its U.S.-Central America trade connecting U.S. markets to Nicaragua, Honduras, Guatemala and El Salvador.

As Senator Roger Wicker of Mississippi once said, “Growth in commercial shipbuilding facilitates growth in the battle fleet.” Sen. Wicker shrewdly recognizes that America’s manufacturing capacity and national security are deeply intertwined. A robust commercial shipbuilding and repair industry is a critical cornerstone of this capacity.For the shipyard industrial base to remain strong and competitive, American innovators need a forward-thinking comprehensive American maritime strategy…

Australian shipbuilder Austal said on Tuesday it had rejected an A$1.02 billion ($662 million) takeover offer from South Korea's Hanwha Ocean as it was unlikely to be approved by Australian and U.S. regulators due to the sensitivity of its operations.The Western Australia-based firm said it had received a bid at A$2.825 per share, representing a premium of 28.4% to Austal's last closing price.Austal's shares rose 8.2% in early trade, while the Australian S&P/ASX200 index was flat.The…

Australian shipbuilder Austal said on Tuesday it had rejected an A$1.02 billion ($662 million) takeover offer from South Korea's Hanwha Ocean as it was unlikely to be approved by Australian and U.S. regulators due to the sensitivity of its operations.The Western Australia-based firm said it had received a bid at A$2.825 per share, representing a premium of 28.4% to Austal's last closing price.Austal's shares rose 8.2% in early trade, while the Australian S&P/ASX200 index .AXJO…

QatarEnergy CEO Saad Al Kaabi announced on Sunday that the company has finalised a number of charter contracts with several Asian ship owners to bolster its shipping fleet by 19 LNG vessels ahead of a massive expansion in LNG output.In a ceremony at its Doha headquarters state-owned QatarEnergy signed contracts to charter six vessels from CMES LNG Carrier Investment, six vessels from Shandong Marine Energy and three vessels from MISC Berhad. Those 15 vessels will be built at South Korea's Samsung Heavy Industries…

Stena Bulk completed the sale of two of its LNG carriers – Stena Crystal Sky and Stena Clear Sky – to BW LNG.As part of the sale, BW LNG will assume the existing charters for both vessels.Both vessels were originally delivered in 2011 from Daewoo Shipbuilding & Marine Engineering in South Korea. Stena Crystal Sky and Stena Clear Sky each have an LNG carrying capacity of 174,000 cbm.“As part of our strategy to continuously look for new opportunities, Stena Bulk took the decision some time ago to sell Stena Crystal Sky and Stena Clear Sky," said Erik Hånell, President & CEO of Stena Bulk.

Avikus, HD Hyundai's autonomous navigation in-house startup, has verified that its autonomous navigation system is capable of reducing fuel use by as much as 15%, which is expected to reduce carbon emissions by 10%.The fuel savings were quantified on a 325,000-ton very large ore carrier (VLOC) operating several times on a 5,800-mile route from Singapore to Brazil using Avikus’ autonomous HiNAS Control system.The verification of this performance was conducted through procedures that were jointly developed by HD Korea Shipbuilding & Offshore Engineering and Avikus…

QatarEnergy signed time-charter party (TCP) agreements with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25, 174,000 cubic meter LNG vessels as part of the second ship-owner tender under QatarEnergy’s historic LNG Fleet Expansion Program.The agreements were signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy and Mr. Abdullah Al Sulaiti, the CEO of Nakilat, in a special ceremony held at QatarEnergy’s headquarters in Doha…