North East Asia News

Threatened strikes by workers at Australian liquefied natural gas (LNG) providers would need to last more than a month to significantly push up global prices, analysts said this week.The Woodside Energy and Chevron operations supply about 10% of global LNG output and worries of a walkout have lifted prices of European gas benchmark TTF forward curve 5%-7% higher over the September-to-April period than just before the news of a potential strike.The three Australian plants facing possible strikes risk losing 4 to 5 billion cubic meters of production per month if they go offline…

Lloyd’s Register (LR) has awarded approval in principle (AIP) to Samsung Heavy Industries (SHI) for its Samsung Autonomous Ship (SAS) Autonomous Navigation System and SVESSEL Communication System, a key result of a joint development project formed in early 2023. The autonomous software for Autonomous Navigation System features an Integrated Bridge System, situational awareness tools and SHI’s Anti-Collision Decision-Making System. By integrating these features with current navigation equipment SHI’s technology can be used to eliminate human error…

Asian spot liquefied natural gas (LNG) prices have weakened for the fifth consecutive week on muted demand due to healthy stocks, remaining at their lowest level in two years.The average LNG price for July delivery into north-east Asia was down 3% from the previous week at $9.50 per million British thermal units (mmBtu), the lowest since early May 2021, industry sources estimated."North Asia remains largely void of demand. Prices have continued to walk down week-on-week and support hasn't been helped by Japanese utilities selling into an already weak market…

GTT and Samsung Heavy Industries (SHI) have received an approval in principle (AIP) from Lloyd’s Register for the application of a new design of liquefied natural gas (LNG) carrier featuring GTT’s three-tank concept equipped with the Mark III Flex membrane containment system. This approval is the result of a joint development project (JDP) initiated in 2022, aiming at designing a new generation of LNG carrier.The JDP study has demonstrated several benefits of this new design for ship-owners and operators.

A new ammonia floating storage regasification unit (FSRU), the first of its kind in Korea, has been awarded approval in principle (AIP) from Lloyd’s Register (LR), the classification society announced Tuesday.Developed by HD Hyundai Heavy Industries (HHI) and Korea Shipbuilding & Offshore Engineering (KSOE), the ammonia-FSRU will store liquefied ammonia transported from production areas and can perform regasification to supply to shipowners and operators. FRSUs are an increasingly…

Qilak LNG plans to invest $5 billion in a proposed liquefied natural gas (LNG) facility in Alaska's North Slope to compete with Russia's Yamal project for Asian customers towards the end of this decade, its chief executive said. Major LNG importers such as Japan, South Korea, and Taiwan are rethinking Russian supplies after sanctions on Moscow after it invaded Ukraine and more natural gas could be needed to produce lower emission and alternative fuels as nations try to reduce their carbon emissions.

Classification society Korean Register (KR) and Ulsan Port Authority (UPA) have signed an MOU to support methanol-fueled ships and establish the South Korean port as a low-carbon, eco-friendly energy hub.The agreement was made in response to the low-carbon energy transition underway in the shipping and port industries. Methanol is a clean burning marine fuel which produces 99% less sulfur oxides (SOx), 80% less nitrogen oxides (NOx) and 25% less greenhouse gases compared to conventional…

Asian spot liquefied natural gas (LNG) prices jumped this week on fears of possible Russian supply disruptions to Japan and on rising demand due to a heatwave and concerns over the return of the Nord Stream pipeline after its planned 10-day maintenance.The average LNG price for August delivery into north-east Asia was estimated at $41 per million British thermal units (mmBtu), up $2, or 5.1%, from the previous week, industry sources said.This is the highest level seen in four…

Lloyd’s Register (LR) has awarded approval in principle (AIP) to HJ Shipbuilding and Construction Co. Ltd (HJSC) – formerly Hanjin Heavy Industries & Construction – for its 7,700 TEU liquefied natural gas (LNG)-fueled containership.The AIP follows a memorandum of understanding (MOU) and joint development project (JDP) agreement between the two companies signed on November 24, 2021. Under the MOU, HJSC has delivered the concept and the design of the vessel, with LR reviewing and approving the design drawings…

South Korean wave energy developer INGINE revealed ambitious growth plans for 2022,its10th anniversary.Today the company is approaching a landmark fifth year of wave energy operation in North East Asia, via the Jeju Bukchon Wave Power Plant built in 2015. Additional international projects will see expansion across four continents throughout 2022 and beyond.This includes a Vietnamese and Korean initiative in Quang Ngai province - through a five-party MoU involving Quang Ngai People’s Committee…

Classification society Lloyd’s Register (LR) said it has granted Digital Twin Ready Approval in Principle (AIP) to shipbuilder Samsung Heavy Industries (SHI) for its Smart Ship Solution, SVESSEL CBM and S-Fugas (Samsung Fuel Gas) System.The class approval, which comes as a result of a Joint Development Project (JDP) formed earlier in the year, is SHI's first for a systems engineering approach for developing artificial intelligence (AI)-enabled technology.As part of the project…

U-Ming's next bulk carrier newbuild being built in China will feature an underwater hull cleaning robot.The Taiwan-headquartered shipping company has signed a commercial agreement with builder Shanghai Waigaoqiao Shipyard (SWS) and Norway's Jotun for the Jotun Hull Skating Solutions (HSS) to be installed aboard one of U-Ming’s four liquefied natural gas (LNG) dual- fuel Tier III 190,000 dwt bulk carriers to be built by SWS in Shanghai to support the long term charter with mining giant Anglo American.

POSCO, Hyundai Mipo Dockyard, Korea Shipbuilding & Offshore Engineering, Lloyd’s Register and the Liberian International Ship & Corporate Registry have set out to jointly develop liquid carbon dioxide (LCO2) carriers to meet the demands of increased global carbon storage and utilization technology.Through their recently signed memorandum of understanding (MOU), POSCO will develop new steel material and relevant technology for storage tank, which are core technologies for the large size of LCO2 carrier…

A design for an ammonia-fueled 23,000 TEU ultra-large containership has received approval in principle (AIP) from classification society Lloyd’s Register (LR), marking a key milestone in a joint development project (JDP) with South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) and engine manufacturer MAN Energy Solutions to develop ammonia propulsion ships.As part of the JDP launched earlier this year, DSME generated the basic design of the ammonia propulsion…

Taiwanese shipping company Evergreen Marine has been awarded Digital Safe Security certification from classification society Lloyd’s Register (LR) for its latest 12,000 TEU containership, Ever Forward, which was built by South Korea's Samsung Heavy Industries (SHI) and delivered on Monday.SHI used its smart ship solution, SVESSEL, to develop the digital ship system onboard Ever Forward. This solution provides operators and shore-based staff with instant access to operating data from onboard systems for monitoring and diagnostics through the cloud…

Container shipping companies Ocean Network Express (ONE), Maersk and MSC will suspend their jointly operated China Australia service (CAE) until at least the second quarter of 2020 due to the COVID-19 pandemic.The last CAE sailing before the suspension will be scheduled to depart Xiamen April 22. The CAE port rotation is as follows: Xiamen – Nansha - Hong Kong – Yantian – Melbourne – Sydney – Brisbane – Xiamen.Alternate coverage will be provided by the North East Asia Australia (AUN) Service…

Dry bulk shipping company Pacific Basin Shipping Limited has deployed KVH’s mini-VSAT Broadband solution on its entire fleet of 99 owned ships as part of its effort to modernize ship-shore communications. “Satellite communications continue to become more cost-effective over time as requirements rapidly grow for bandwidth and speed,” said Capt. Uttam K. Jaiswal, general manager – marine at Pacific Basin, a Hong Kong based owner and operator of Handysize and Supramax dry bulk ships.

Kalmar, part of Cargotec, has successfully delivered five rubber-tyred gantry (RTG) cranes to Evergreen International Storage & Transport Corporation in Taiwan. The cranes will be used in Taoyuan Inland Container Terminal and Hsichih Inland Container Terminal. Evergreen International Storage & Transport Corporation offers inland container terminal services to customers all over Taiwan, including lifting operations and control of inbound and outbound containers; container repairing and cleaning service; and warehousing in the distribution center. The company is now expanding the business to international logistics market. The five Kalmar…

Maersk Line is upgrading  its  ‘Triple Star’ service by launching direct, weekly northbound connections between New Zealand and North East Asian ports. "We are optimising our ‘Triple Star’ service with the launch of direct, weekly connections between New Zealand and North East Asian ports. Starting from late September 2016, Kiwi exporters can enjoy all the benefits of direct access to Taiwan, China, Korea and Japan," says a statement from Maersk Line. With unmatched transit times to a number of strategic ports, this superior service has been tailormade to offer New Zealand businesses fast and reliable access to these important markets.

Corvus Energy has appointed Geir Bjørkeli as its new Chief Executive Officer (CEO). Bjørkeli was previously Director of Norway for the Dutch company Huisman, and established the company’s Norwegian presence for offshore construction equipment solutions. Bjørkeli will remain based in Bergen, Norway. Prior to joining Huisman, Bjørkeli was a design engineer with the ship designer and shipbuilder Ulstein. He held several positions with Rolls-Royce, including VP Sales for North East Asia and Managing Director of Rolls-Royce Marine Japan…

Russian submarines and spy ships are aggressively operating near the vital undersea cables that carry almost all global internet communications, raising concerns in America, reports Reuters. The US intelligence officials feel that the Russians might be planning to attack those lines in times of tension or conflict, says the report. From the North Sea to Northeast Asia and even in waters closer to U.S. shores, there is increased Russian activity along the known routes of cables that carry the lifeblood of global electronic communications and commerce. The New York Times reported that US spies had noticed Russian submarines and spy ships acting suspiciously near cables in the North Sea, north-east Asia and off the American coast.

In order to offer shippers a more comprehensive service on Asia-Australia trade, Evergreen Line, OOCL, MOL, "K" Line and YML are teaming up to offer a new joint North East Asia - Australia Express (NEAX).   This weekly service will utilize six ships of between 3,500 and 3,700 TEU capacity, one each provided by Evergreen, MOL, K-LINE, YML and the remaining two by OOCL. The first sailing is planned to depart from Yokohama on October 23, with the following port rotation: Yokohama - Osaka - Pusan - Qingdao - Shanghai - Ningbo - Melbourne - Sydney - Brisbane, then returning to Yokohama.

Mediterranean Shipping Company (MSC) has announces a new vessel sharing agreement (VSA), effective on the Wallaby and Panda services between Australia and Asia. The VSA will come into force in May 2017, between MSC, Maersk Line, Mitsui O.S.K Lines and Hamburg Sud. The Wallaby Service to and from North East Asia will continue to operate the following rotation, while maintaining the same transit times: Yokohama-Osaka-Busan-Qingdao-Shanghai (Yangshan)-Ningbo-Brisbane-Sydney-Melbourne-Sydney-Brisbane-Yokohama. The Panda Service, meanwhile, will see improved South China coverage as a result of the additions of Xiamen and Nansha ports. The rotation will be: Kaohsiung-Xiamen-Nansha-Hong Kong-Yantian-Melbourne-Sydney-Brisbane-Kaohsiung.