Hyundai Drive Made First Call to Hamad Port
Qatar’s Hamad Port announced the addition of a new service from South Korean shipping line Hyundai Merchant Marine (HMM) to its growing network list, QNA reported. HMM’s 365.5-metre-long ‘Hyundai Drive’ made its first call to Hamad Port, marking the official start of a new Hyundai Merchant Marine’s KME (Korea Middle East Express) service. It is the largest container vessel to make its maiden call in Qatar since the opening of Hamad Port. The vessel from Kwangyang Port in South Korea arrived at Hamad Port in the container terminal CT1.
Korean Ship Exports to Exceed $22b
Reports said that exports of Korean ships are expected to exceed $22b this year on the back of more sales of high-value-added vessels including liquefied natural gas carriers. The Korean shipbuilders association says domestic shipyards are likely to export $10.7b worth of vessels in the second half in addition to the $11 billion in the first half of the year. The association believes the industry will see a trade surplus of $19 billion this year, accounting for 70 percent of the country's aggregate trade surplus. Source: Arirang News
Philippines Releases North Korean Ship
Reuter reports that the Philippines has released a North Korean freighter it had seized. The North Korean freighter was covered by harsher United Nations' sanctions against Pyongyang over its nuclear program. The 6,830 deadweight tonne (dwt) cargo ship M/V Jin Teng was one of the first sanctioned North Korean ships to enter a foreign port since the tightened sanctions were passed unanimously by the U.N. Security Council. Thirty-one North Korean ships are on the list. Its 21 North Korean crew…
S. Korea Ship Counter-piracy Measures Introduced
A law revision requires South Korean ships to build safe areas (citadels) against pirate attacks. The recently passed revision, passed in the National Assembly on Nov. 22, 2012, obliges the construction of a so-called "citadel" inside ships that have to sail through international waters reports the Yonhap News Agency. When the revision will go into effect is not yet known, but it is expected to come into force soon. Previously there had been no related laws requiring owners to provide such safe areas, crew members have been left vulnerable to pirate attacks. There have been a total of nine cases where South Korean sailors were kidnapped in waters off Somalia since 2006. Six of the cases involved Korean ships, while two were Japanese and one was Singaporean.
North Korean Ships Reflag in Tanzania
Around 50 ships owned by or related to North Korea have reflagged in Tanzania since the United Nations Security Council adopted its strongest-ever resolution on the country in March, in an apparent attempt to circumvent the sanctions. "The change of nationality into Tanzania comes in violation of the UNSC resolution," a report in Korea Herald said, indicating Resolution 2270's ban on North Korean ships sailing under the flag of other countries. The group of vessels includes one ship blacklisted by the U.N.'s sanctions committee and the U.S. Department of the Treasury, the Washington, D.C.-based NK News said, citing European shipping database Equasis and Port State Control.
Ten North Korean Ships Violate Sea Border
Ten North Korean ships, including a patrol boat, briefly violated the western sea border with South Korea on Sunday, according to AP reports. The North's patrol boat crossed the frontier as it tried to usher back nine small boats that strayed into South Korean waters. It wasn't clear why the nine boats crossed the border, according to the report. North Korean boats periodically enter waters controlled by South Korea, and South Korean navy ships occasionally respond with warning shots. The navies of the two Koreas fought deadly skirmishes in the western sea in 1999 and 2002. Source: Associated Press
Philippines Seizes North Korean Cargo Ship
The Philippines said on Saturday it had seized a North Korean freighter that was covered by harsher United Nations' sanctions against Pyongyang over its nuclear programme. Manila will also deport the vessel's 21 North Korean crew and will await a U.N. inspection team from the United Nations, foreign ministry spokesman Charles Jose said in a text message. "In compliance with the United Nations resolution, the North Korean ship in Subic will be impounded and not allowed to leave port," he said.
Chinese Ships Illegally Selling Oil to North Korea
U.S. spy satellites have caught Chinese and North Korean ships illegally trading oil on the West Sea 30 times in the last three months, according to South Korean government sources. The reported smuggling comes in the wake of United Nations sanctions banning ship-to-ship trades with North Korea on the high seas since September. But according a report from The Chosun Ilbo, satellites images have since captured more than two dozen illegal transfers and even the names of the ships side by side illegally trading oil.
Korean Ship Orders Up 322%
Korean Ship Orders Up 322% New orders received by South Korean shipbuilders in February totaled 1.26 million gt, up 322.7 percent from the same month a year earlier, provisional figures from the Korea Shipbuilders' Association showed. Orders received in January-February period totaled 2.32 million gt for 37 ships, up 232.1 percent from the same period a year ago. Korea received orders for 21 new ships in February. Ten ships, totaling 718,000 gt, were completed during the month. A total of 27 ships, worth 1.67 million gt, were completed in the first two months of this year, down from 1.93 million GT for 35 ships in the same period a year ago.
China Bars North Korean Ship
Reuters reports that China’s Ministry of Transport has blacklisted 31 North Korean vessels in accordance with the UN Security Council resolution. China has barred a North Korean freighter from one of its ports. The country will start inspecting the North Korean ships that dock at its ports for banned cargo as part of new international sanctions against Pyongyang. The move, which Beijing would start taking against the vessels as of Thursday, corresponds to its commitments under a raft of sanctions adopted against Pyongyang at the United Nations Security Council.
Korean Ship Orders Drop 34%
New orders received by South Korean shipbuilders dropped 34.1 percent in the first seven months of this year versus the same period last year, provisional figures from the Korea Shipbuilders' Assoc. claim. Orders in the seven-month period reached 3.84 million gross tons (GT) for 80 ships, compared with 5.82 million GT for 103 ships in the same period a year earlier.
North Korean Bulkers Stranded as China Enforces Sanctions
At least ten North Korean ships have arrived at a Chinese port after being stranded for the past three weeks following the top global coal consumer's ban on imports of the fuel from its isolated neighbour, a report said on Friday. Six North Korean merchant vessels, including Sai Nal 3 and Jin Hung, entered the port of Longkou in China's eastern Shandong province as of Thursday, South Korean news agency Yonhap reported on Friday, citing a Voice of America report. Reuters ship tracking data shows that Sai Nal 3 from North Korea has been moored at the port for at least the past three weeks. It is listed at maximum draft, meaning it is likely fully laden with cargo.
STX Pan Ocean to spend $810
STX Pan Ocean a South Korean shipping firm, said on Wednesday it would spend about $810 million in 2008 on new vessels including bulk ships and containers. STX Pan Ocean , listed in Seoul and Singapore, also said in a filing to the Korea Exchange it would buy four bulk ships for 143.9 billion won ($153.2 million) by 2010.
Vale: Iron Ore on Sunken Ship Insured
Brazilian miner Vale SA said on Monday that 260,000 tonnes of fine iron ore on a South Korean ship that sank in the South Atlantic had been insured. Vale said in an email that the cargo, which belonged to the Brazilian miner, was bound for China for storage and blending when the ship operated by South Korea's Polaris Shipping, Stellar Daisy, sank off Uruguay's coast. Vale said the cargo had been stowed in accordance with international norms. Reporting by Roberto Samora
North Korean Ship Detained in India
According to an Oct. 4 report from the Associated Press, India's coast guard detained a North Korean ship headed for Pakistan after it dropped anchor in Indian waters without permission, a news agency reported. It was not immediately clear what cargo the ship was carrying. (Source: Associated Press)
Korea's STX Offshore Gets Emergency Loans
Creditors of the ailing shipbuilder agree to provide STX Offshore with (US$540 million) in emergency loans. The news is cited as coming from the main creditor bank and is reported by the Yonhap News Agency. STX Offshore, the shipbuilding unit of STX Group, a South Korean shipping and shipbuilding conglomerate, has been suffering a credit crunch as demand for new ships has fallen sharply in the past few years. Source: Yonhap News Agency
Japan Imposes Asset Freeze on N.Korean Shipping Firm
Japan on Friday froze the assets of the operator of a North Korean ship seized for smuggling arms, the Foreign Ministry said, just as Tokyo is engaged in talks with Pyongyang to return Japanese citizens kidnapped by North Korean agents decades ago. The sanction against Ocean Maritime Management, which operated the ship detained near the Panama Canal a year ago carrying Soviet-era arms, follows similar steps by the United States and U.N. blacklisting of the North Korean firm in July. It is not immediately clear how much assets, if any, Ocean Maritime Management holds in Japan, the Finance Ministry said. North Korea in May agreed to reinvestigate the fate of Japanese citizens abducted by the reclusive state in the 1970s and 1980s.
U.S. Navy Tracks North Korean Ship
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)
South Korean Shipping Slump
According to a report on UPI, South Korean ship builders have been hit hard by the global economic slowdown as new orders plunged in the first half of 2009. Yonhap reports that South Korea’s three major shipyards received combined orders of only $1.23 billion in the first six months of this year, compared with $34.1 billion in the same period of last year.
STX Pan Ocean Wins $240m Contract
South Korean shipping firm STX Pan Ocean said it has won a shipbuilding contract worth at least $240m. The contract is for the construction of three bulk carriers, which are expected to be delivered in the second half of 2010. Source: Reuters
UN North Korea Sanctions on 4 Black-listed Ships Lifted
According to a Reuters report, the UN Security Council agreed to a Chinese request to remove sanctions on four ships that had been blacklisted for ties to Pyongyang after China secured assurances the vessels would not use North Korean crews. The ships were among 31 vessels sanctioned by the 15-member council on March 2 because they were owned by North Korean shipping firm Ocean Maritime Management Company (OMM). The four ships include the Jin Teng, a cargo ship detained by the Philippines days after the sanctions took effect. Chinese U.N.
Hanjin Shipping: No Cash to Pay Creditors
Hanjin Shipping Co., the South Korean shipping company that caused havoc when it filed for bankruptcy, is struggling to raise enough money to repay $10.5 billion in creditor claims, WSJ reported. Hanjin has raised only $220 million by selling ships, stakes in seaport terminals and other assets to repay its more than 180 creditors. A trustee charged with Hanjin Shipping’s Korean bankruptcy case in in Seoul said Hanjin has raised about $220 million since filing for bankruptcy nearly a year ago. At least 180 creditors were present for the court hearing on June 1, 2017.
Maersk May Swallow Hyundai Merchant
Business Korea reports that rumours are now rife in the container business world that Maersk could swoop on Hyundai Merchant Marine and subsume its activities into their own business. Even though it is still a prediction, if the prediction becomes a reality, it is highly likely that the sell-off of Hyundai Merchant Marine will receive strong backlash with a mounting criticism that the government sold a major national flag carrier for a giveaway price. According to the shipping industry and creditors…