US Pushes More Sanctions Targeting N.Korea Maritime Smuggling
"We are ramping up the pressure on the North Korean regime, and we're going to use every tool at our disposal, including working with our allies and through the U.N., to increase the pressure until North Korea reverses course," U.S. Ambassador to the United Nations Nikki Haley said in a statement. The move coincides with the United States imposing its largest package of unilateral sanctions against North Korea on Friday, intensifying pressure on Pyongyang to give up its nuclear weapons and missile programmes. The U.N.
Selektope Antifouling in demand at Korean Shipyards
As global water temperatures increase, global ‘biofouling hotspots’ in subtropical/tropical areas are intensifying, exposing newbuildings at the world’s major shipyards to greater risk of hard fouling during the outfitting process. The effects of intense hard fouling on idle newbuilds can have great impact on a newly applied hull coating and on a vessel’s performance in sea trials. In response to this problem, a new antifouling coating specifically targeting hard biofouling prevention during the outfitting period was brought to market by Danish marine coatings specialist Hempel in late 2017.
Yang Ming Marine Offers Korea-Vietnam-Thailand Service
Taiwan-based ocean shipping company Yang Ming Marine Transport Corporation announcesdthat it will provide Korea-Vietnam/Thailand service (KVX) as of March 7th, 2018. The calling port rotation of KVX service is: Incheon–Ulsan–Busan–Shekou–Ho Chi Minh–Laem Chabang–Bangkok–Laem Chabang–Ho Chi Minh–Incheon. With the new KVX service and the existing CT2 service, YM will provide customers with more convenient and reliable services between Korea, Vietnam and Thailand. Two months ago…
Hyundai Heavy Bags LPG Storage Tank Deal in Nigeria
Hyundai Heavy said it plans to start to build the tanks in May and is set to deliver the tanks to Nigeria's Dangote Oil Refining Company, Africa's largest refinery, beginning in April 2019. The 15 cylindrical tanks - each being eight meters in diameter and 95 meters in length - can hold 75,000 cubic meters of LPG, according to Hyundai Heavy. The 15 gas cylinders w ill be installed at Dangote Oil Reining’s refining and petrochemical plant near Lagos in southwestern Nigeria. The Korean company manufactures and sells ships…
US Coast Guard Publishes Banned Vessels List
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.
US Targets 28 Vessels in New North Korea Sanctions
The United States targeted North Korea in a new wave of sanctions on Friday directed at one person, 27 companies and 28 vessels, according to a statement on the U.S. Treasury Department's website. The Treasury's Office of Foreign Assets Control announced the new measures, which are designed to disrupt North Korean shipping and trading companies and vessels and to further isolate Pyongyang. (Reporting by Doina Chiacu Editing by Chizu Nomiyama)
Morén Rejoins MJP
Marine Jet Power (MJP) welcomed Nils Morén as International Sales Manager responsible for sales in Israel, India, Taiwan and South Korea. In this role Nils will be responsible for business development and customer relations, reporting to MJP CEO, Magnus Sörenson. Nils originally joined MJP in 1996, during which time he was mainly responsible for sales for 14 years. During his tenure Nils was a key player and helped secure many notable contracts including orders worldwide. Most…
THE Alliance Announces Further 2018 Network Enhancements
Following the announcement of the 2018 service network in December the members of THE Alliance, Hapag-Lloyd, Ocean Network Express, and Yang Ming have worked to refine the product offerings. Several services will see additional enhancements to improve transit times, boost reliability, and deliver more choice to the marketplace. “The fine tuning of the 2018 product package will further strengthen our already robust portfolio and allow THE Alliance members to provide enhanced value tailored to exceed the need of the marketplace” the members said in a statement.
Hyundai Merchant Marine, AAL Shipping Join for MPV Service
South Korea's Hyundai Merchant Marine (HMM) announced it is beginning its cooperation with Singapore based carrier, AAL Shipping, for Multi-Purpose Vessel (MPV) service. Specialist multipurpose carriers and long-standing collaborators, AAL and Hyundai Merchant Marine (HMM), are entering a global cooperation that will see both carriers expand their trade route coverage, sailings frequency, and MPV fleet capacity. The cooperation will create a joint Far East – Middle East MPV Liner Service, served by five MPV vessels and a scheduled bi-monthly rotation.
Hyundai Merchant Marine Crosses 10,000 TEU in US Premium Service
South Korea's Hyundai Merchant Marine (HMM) said that its handling volume of US Premium Service reached over 10,000 TEU as of the end of January. Since May last year, HMM has provided US Premium Service in PS1, PS2, and PN2 routes connecting Asia main ports with US west coast including Los Angeles and Tacoma etc. With the Asia-US West Coast Premium service, customers can secure reliable cargo loading space even in the peak season and have priority to discharge their cargoes at the destination. Normally, it takes two or three days to receive cargoes at US west coast ports in high congestion.
Hyundai Merchant Marine Forms Consortium with MSC, Hapag-Lloyd and ONE
Hyundai Merchant Marine (HMM) announced that it has established a consortium with global liners, MSC, Hapag-Lloyd, and ONE to launch joint services between Asia and west coast of South America. Previously, HMM operated three Asia-west coast of South America services with MSC, CMA-CGM, Hamburg Süd, Hapag-Lloyd, APL, and CSCL. The newly reorganized ‘Asia-west coast of South America’ joint services will connect Korea, China, Japan, Taiwan with the west coast of Mexico, Peru, Chile, Columbia through three loops starting at the beginning of April.
Rickmers-Linie Appoints Korea Maritime
Rickmers-Linie GmbH & Cie. KG, the German based global breakbulk, heavy lift and project cargo specialist, has appointed Korea Maritime Co.,Ltd., Seoul as its new agent in South Korea effective September 18. Rickmers-Linie and Seabridge Korea Ltd., Seoul, have agreed to terminate the existing agency agreement effective 17 September 2006. As of 18 September, all Rickmers-Linie’s activities in South Korea will be handled by Korea Maritime Co., with the first vessel being the MV Rickmers New Orleans, scheduled to arrive in Masan on September 21.
South Korea Wants 3 More Aegis Warships
The South Korea Navy has requested three more Aegis destroyers to strengthen the country’s defense against North Korea and to cover territorial disputes in the region according to a military official cited by 'The Korea Times'. Under a Navy buildup project started in 2004 to bolster defense against North Korea, South Korea began to build Aegis destroyers and currently has three 7,600-ton warships ― the King Sejong the Great, the Seoae Ryu Seong-ryong and the Yulgok Yi I. The South Korea Navy has sought to increase its fleet to cope with rising regional tension in the wake of North Korea’s third nuclear test conducted earlier this year and ongoing territorial disputes between China and Japan. Source: 'The Korea Times'.
South Korea Mulls Maritime Study with North Korea
South Korea would propose a joint research with North Korea to develop marine resources and ocean tourism, reports Korea Herald. South Korea’s Maritime Affairs and Fisheries Ministry pointed out the need of an excavation of North Korea’s marine resources, and development of ecotourism content and infrastructure to attract Asian tourists. The plan is to work together on eco-friendly marine tourism measures with North Korea, and designate uninhabited islands as “Islands of Peace” where they can develop resources together.
Asia's Soaring Gas Demand Beckons New LNG Projects
Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang. Trade flows in Eikon show global liquefied natural gas (LNG) imports have risen 40 percent since 2015, to almost 40 billion cubic metres (bcm) a month.
North Korea Fires Missiles in Show of Force
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.
MES, TSUNEISHI Form Shipbuilding Alliance
Two more Japanese shipyards have formed a business alliance as the nation’s shipbuilders continue to struggle against an industry downturn. Mitsui Engineering & Shipbuilding Co., Ltd. (MES) and TSUNEISHI Shipbuilding Co., Ltd. say they will collaborate on commercial shipbuilding and design, becoming the latest in a string of Japanese shipbuilders to form similar partnerships in attempts to better compete with yards in China and South Korea. The two companies are still discussing specific conditions for the agreement, but say they will remain independent.
South Korean Shipyards: Silver Lining for the Biggies
Though South Korea’s big three shipbuilders -Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries - showing signs of fiscal recovery this year, orders at midsized shipbuilding companies remain sparse. Korea Herald reported citing Korea Export-Import Bank of Korea that the order receipts of medium-sized shipyards in Korea were estimated to be around $110 million in the first quarter. Despite an improvement compared to last year’s first quarter…
China's Q1 Trade with N.Korea up Despite Sanctions
China's trade with North Korea rose in the first quarter in spite of tough new international sanctions this year targeting Pyongyang's banned nuclear program, including curbs on coal imports. Imports from the isolated country, consisting mainly of coal and clothes, rose 10.8 percent from a year earlier, customs spokesman Huang Songping said on Wednesday. China's exports to North Korea in the first quarter rose 14.7 percent from a year earlier in yuan terms, Huang told a news conference. China is North Korea's only major ally and most important trade partner. Exports consisted of electromechanical products, labor-intensive and agricultural products.
Rickmers Establishes Korea Subsidiary
Rickmers-Linie, the Hamburg-based specialist for breakbulk, heavylift and project cargo, is expanding its network of own subsidiaries in Asia and will establish a new subsidiary, Rickmers (Korea) Inc, in Seoul effective November 1, 2007. “With its export oriented industry and as a significant location for shipping and related industries, Korea is one of our key markets in the Far East. Thus it was a logical decision to establish our own office in Seoul. The new subsidiary will primarily take over the role of Rickmers-Linie’s agent in Korea and moreover will be the representative office for Rickmers Group in Korea,” explained Gerhard Janssen, General Manager Marketing & Sales at Rickmers-Linie.
AVEVA Expands in Korea
AVEVA opened a new office in Seoul, Korea, that incorporates a dedicated product training center, following an increased demand for AVEVA solutions. The office will also host sales, marketing, product support, and administration functions for AVEVA customers in Korea. “This new office, in particular the product training centre, enables AVEVA to offer a better service to our customers”, said EunJoo Park, Senior Executive Vice President of Korea and Japan division, AVEVA. “We can vastly increase the number of participants at this new training centre, as well as host more meetings. AVEVA has had offices in Korea for over ten years. In this time we have seen an increased demand for trained users in AVEVA products and solutions across the Plant and Marine industries.
Korea to Create $1.2bln Shipping Fund
The South Korean government will create a US$1.2 billion ship investment fund to aid the shipping industry which has been struggling due to decreasing global trade. A report by South Korea's Yonhap News Agency said the fund will help shippers buy and sell vessels with less financial risk. The fund, aims to "aid the shipping industry which has been struggling due to decreasing global trade". Fund will "help shippers buy and sell vessels with less financial risk as the Korea Trade Insurance Corp. and the Korea Maritime Guarantee Insurance Co.
Seoul's Effort to Calm Shipping Sector Storm
South Korea will pump $9.5bn (11 trillion won) into state-run policy lenders reeling from huge losses on loans made to the beleaguered shipbuilding and shipping sectors to help them deal with further corporate distress, says FT. South Korea's fund will support two state-run banks most exposed to shipping and shipbuilding firms currently being restructured. The China slowdown is partly to blame. The two state-run banks to be capitalised are Korea Development Bank (KDB) and the Export-Import Bank of Korea (KEXIM).