Hwang News

The 72m passenger ferry Korea Pride, designed by Incat Crowther and built by Kangnam Corporation in Busan, South Korea, was delivered to Korea Express Ferry.The ship that will operate from Incheon on the west coast of South Korea, and it is unique in that it is reportedly the first ship of its type to be built in South Korea, which remains the world's shipbuilding powerhouse for large oceangoing ships.From the outset, Korea Express Ferry set high safety, comfort and performance standards…

McAllister Towing LNG Services, LLC will serve as technical manager for the Polaris New Energy LNG bunkering operation in Florida, operating the Articulated Tug Barge (ATB) Polaris/Clean Canaveral for Polaris New Energy. “We are excited to work with McAllister Towing because, as one of the oldest marine transportation companies in the US, they bring a tradition for providing unsurpassed operational excellence," said Tom Sullivan, COO, Seaside LNG Holdings, the parent company of Polaris New Energy.

Canadian power producer Northland Power will acquire Dado Ocean Wind Farm, a development company with multiple early-stage offshore wind development sites in South Korea.Dado Ocean is currently owned by Eui Jeong Hwang, a wind power developer who will continue to support the project as a local partner, working together with Northland to achieve key milestones for the project. The acquisition is expected to close in the coming weeks, subject to customary closing conditions.According to Northland, the acquisition builds on the company's presence in Asia and specifically in South Korea. It is anticipated that South Korea’s installed capacity will more than double by 2050, with renewables accounting for approximately 59% compared to 8% in 2018.

Navis, the provider of maritime software solutions for cargo and vessel performance and compliance,  announced that its MACS3 loading computer will be installed on two newbuilding series of container vessels owned and operated by Taiwan-based Evergreen Marine Corporation.Navis, a part of Cargotec Corporation, said that due to the owner’s decision to have this loading computer installed, they are moving to support safer and more effective onboard cargo handling.The newbuildings are currently being built at two different Chinese shipyards. The Jiangnan shipyard is currently building four container ships with a capacity of 2,500 TEU, which will be delivered between February and November 2020.Two other 1…

South Korean container line Hyundai Merchant Marine (HMM) has named its new very large crude carrier (VLCC) at the Daewoo Shipbuilding & Marine Engineering (DSME).The 300,000 dwt vessel was named the Universal Leader during the ceremony held at DSME’s Okpo shipyard in Geoje on January 29, 2019.About 100 distinguished guests attended the ceremony including C.K. Yoo (President & CEO of HMM), Ho Seon Hwang (President of Korea Ocean Business Corporation(KOBC)), and Sung Leep Jung (President & CEO of DSME).Additionally, Mrs. Jang Mi No, Mr. Hwang’s wife, took on the role as godmother who cut the ropes to officially name the ship during the ceremony.

The U.S. Coast Guard posted a list of vessels that are prohibited from entering the navigable waters of the U.S. or transferring cargo in the U.S., absent a specific determination from the U.S. Secretary of State or other limited provisional entry allowed by law. This list, which is published pursuant to the North Korea Sanction and Policy Enhancement Act of 2016 and the Ports and Waterways Safety Act (PWSA) as amended by the Countering America’s Adversaries Through Sanctions Act (CAATSA), was last updated on February 2, 2018. DONG NAM NO. HIYOSHI MARU No.

Three refiners to spend more than $5 bln to upgrade or add units. South Korean refiners are planning to spend over $5 billion on plant upgrades in response to tighter rules on shipping fuel, boosting production of low-sulphur fuel oil as well as other high-end products. The refiners hope the investment, which comes ahead of the 2020 introduction of the new rules, will make them one of the biggest beneficiaries of the new regulations, with many competitors still waiting to commit to new spending. "Not many refiners are doing so. Korean refiners are investing proactively," said Hwang Yu-sik, an analyst at NH Investment & Securities. In 2016…

Miraejet Co. Ltd. named its Damen Fast Ferry 4010 JET MV Nina at an official launching ceremony held at the Busan International Ferry Terminal in the Republic of Korea on October 6th. Nina was named after one of the ships deployed on Christopher Columbus’ first voyage to the West Indies. The order for the 440-passenger, Damen Fast Ferry 4010 JET was fulfilled in just four months. Miraejet Co. Ltd., a well-known ferry company in Korea, will operate the new vessel between Busan and Tsushima island, Japan, a very popular tourist destination.

Missiles flew far enough to reach any part of S.Korea. North Korea fired three ballistic missiles on Tuesday which flew between 500 and 600 km (300-360 miles) into the sea off its east coast, South Korea's military said, the latest in a series of provocative moves by the isolated country. The U.S. military said it detected launches of what it believed were two Scud missiles and one Rodong, a home-grown missile based on Soviet-era Scud technology. North Korea has fired both types numerous times in recent years, an indication that unlike recent launches that were seen as efforts by the North to improve its missile capability, Tuesday's were meant as a show of force.

Officials from POSCO, the Ports of Indiana and community leaders gathered to break ground today on POSCO's new wire rod processing center at the Port of Indiana-Jeffersonville. POSCO is a multinational company headquartered in Pohang, South Korea, and the fifth-largest steel producer in the world. The new $19 million facility is expected to begin operations in 2017 and create up to 60 high-wage jobs by 2018. POSCO is South Korea's fourth largest company, behind Samsung Electronics, SK Holdings and Hyundai Motors, and is ranked No. 162 in Fortune's Global 500. "When a global company like POSCO selects Indiana for its newest plant, it is a strong endorsement of our state's pro-business environment and talented workforce," said Governor Mike Pence.

Tenaga Nasional Bhd , Malaysia's largest power group, hit an obstacle in its attempt to take over Integrax Bhd after a leading shareholder of the port operator rejected its offer on Monday. Perak Corporation Bhd, which holds 15.74 percent stake in Integrax, said in a local stock exchange filing that its board would only suggest its shareholders approve the deal if the offer was raised to 3.25 ringgit per share. Tenaga, the largest Integrax shareholder with a 22.12 percent stake, on Jan. 9 offered 644.22 million ringgit ($176.88 million) or 2.75 ringgit per share to buy the remaining shares in Integrax it does not already own. The 3.25 ringgit per share counter offer was the highest in the indicative equity valuation range by Affin Hwang Investment Bank Bhd…

The state audit agency has interrogated the chief of the Navy over a faulty Navy salvage ship that failed to participate in the national rescue operation for the ferry Sewol that sank off the southwest coast in April according to an unnamed source cited by Yonhap News Agency. The interrogation of Navy Chief Adm. Hwang Ki-chul is part of the Board of Audit and Inspection's probe into the military's project to construct the first South Korean-built salvage ship Tongyeong, according to the source. The military completed the construction of the salvage ship with local shipbuilder Daweoo Shipbuilding & Marine Engineering in 2012, but the military has refused to take over the vessel, citing its insufficient sonar system as well as a remotely operated vehicle for underwater maneuvers.

The body of a South Korean boy whose shaking voice first raised the alarm that a passenger ferry with hundreds on board was in trouble has been found, his parents believe, but a DNA test has yet to confirm the find, media said on Thursday. His parents had checked his body and clothes and concluded he was their son, the Yonhap news agency said. The crew had told the children to stay put as the ferry sank. The Sewol sank on April 16 on a routine trip from the port of Incheon, near Seoul, to the southern holiday island of Jeju. Investigations are focused on human error or a mechanical fault, with media saying the ship was three times overloaded, with cargo poorly stowed and inadequate ballast water.

It should have been plain sailing for a South Korean ferry carrying hundreds of children and their teachers on an outing to the sub-tropical island of Jeju, an annual trip for Danwon High School. The Sewol had 476 passengers and crew on board, including 339 children and teachers. It had an experienced captain, was navigating well-known waters and had passed its annual inspections since it was bought second hand in 2012 by Chonghaejin Marine Co. Ltd. But prosecutors believe the vessel capsized after turning at too high a speed. Sixty-four people are known to have died and 238 are missing, presumed dead, mostly children. In an arrest document…

This would be only the second mainboard IPO in Singapore this year. Singapore's IPO market lacklustre in recent years, but oil and gas related offerings find favour in Singapore. A major operator of maritime support vessels controlled by Malaysia's richest man is seeking up to $380 million in a Singapore IPO - a boost to the city-state's stock market which has seen just one other mainboard listing this year. The deal from PACC Offshore Services Holdings (POSH), the largest Asia-based international operator of support vessels for offshore oilfields, comes as Singapore's IPO market has struggled in recent years. Most big-ticket listings in Asia opt for Hong Kong where there is more robust demand from Chinese and international investors.

PACC Offshore Services Holdings (POSH), part of the empire of Malaysia's richest man Robert Kuok, has roped in Hwang Investment Management Berhad and Fortress Capital Asset Management as cornerstone investors for its Singapore listing, which sources close to the matter said could raise about $400 million. The two cornerstone investors would take up 85.6 million shares, according to the company's preliminary prospectus. POSH operates a fleet serving offshore oilfields in Asia, Africa and Latin America. Singapore is home to the world's two biggest rig builders, Keppel Corp Ltd and Sembcorp Marine Ltd, as well as smaller oil services companies such as Ezion Holdings Ltd. The sources declined to be identified because the information has not been made public.

Shipbuilder Hyundai Heavy Industries (HHI) held a launch ceremony today for its fifth frigate, ROKS Jeonbuk. The launch ceremony was attended by the Chief of Naval Operations Admiral Hwang Ki-chul, governor of Northern Jeolla Province Kim Wan-ju, Hyundai Heavy’s president and CEO Lee Jai-seong and other government and military officials in Ulsan shipyard. The Jeonbuk frigate has greatly improved capabilities with its weapon and sensors including new 3-D radar, antiaircraft and antiship missiles, and sonar and torpedo acoustic counter measures. In addition, the vessel uses stealth technology to minimize the exposure to electromagnetic waves. More than 90% of major equipment is locally developed and sourced.

At the 150th Annual Meeting of the Members of ABS, three industry leaders were elected to the ABS Council. Following the Annual Meeting, the ABS Council met and elected industry leaders to both its Marine and Offshore Technical Committees. Individuals serving on the ABS Council and the Technical Committees help guide the class society in fulfilling its mission of promoting the security of life, property and the natural environment. “Classification represents the concept of self-regulation for the marine and offshore industry,” said ABS President and CEO Christopher J. Wiernicki.

captained by Captain Wen-Yau Hwang, assisted the U.S. rescue of the fishing vessel LUCKY I. coast of San Francisco, CA without engine power for a week. took place September 25. and made attempts to repair the engine and generator with no success. assistance. relinquishing the tow to USCGC TERN, an 87-foot patrol boat. Evergreen America Corporation, U. S. Agents for Evergreen.

Dassault Systèmes (DS) announced that the shipbuilder Samsung Heavy Industries (SHI) has built a simulation-based digital shipyard using DELMIA digital manufacturing technology, enabling the company to successfully establish a real-time supply chain network for collaborative production. With DELMIA, SHI’s Korea-based Geoje Shipyard is able to simulate design and engineering processes and digitally manage its facilities, procedures, and engineering schedules by shipbuilding in a virtual environment. “In the future, Simulation-Based Manufacturing (SBM) will play a pivotal role in strengthening the competitiveness of manufacturing by applying IT technologies,” noted Hwang Gyu-Ok, general manager of the Information System Group for SHI.

The Port of Los Angeles, along with the California Air Resources Board and the South Coast Air Quality Management District, presented today its first-ever Environmental Excellence Award to Evergreen America Corporation. The award recognizes the environmental stewardship of Port of Los Angeles customers. Port Chief Operating Officer Bruce Seaton presented the Environmental Excellence Award to Captain Hwang and Jason Hsu of Evergreen America. Evergreen has shown their commitment to reducing air emissions with several programs including being the most compliant company with the Port’s Vessel Reduction Program; being the first terminal operator in the U.S.

European Union and South Korean trade officials will meet next week in Seoul to resolve a dispute over alleged shipbuilding subsidies by Korean yards. "Working-level officials from the EU and Korea will discuss the hottest trade issue between the two parties from May 28-30 in Seoul," said Seoul's Commerce Ministry in a statement. Earlier in the month, European Trade Commissioner Pascal Lamy met South Korean Commerce Minister Hwang Doo-Yun to discuss the EU executive's threat to start a WTO (World Trade Organization) dispute against Seoul unless a deal could be reached by June 30. The EU argues that South Korea has granted substantial subsidies to its shipyards, contravening the WTO's 1994 Subsidies Agreement.