Samsung News

02 Jun 2020

S. Korean Shipbuilder Shares Soar on $19B Deal with QP

A Hyundai Heavy LNG Carrier - For illustration only - Credit: HHI

Shares in South Korean shipbuilders rallied more than 20% on Tuesday following $19 billion worth of deals to build vessels for Qatar Petroleum (QP).QP said on Monday it has signed agreements with South Korea's "Big 3" shipyards to secure more than 100 ships costing over 70 billion Qatari riyals ($18.65 billion), describing the deals as "the largest LNG shipbuilding in history."The agreements signed with Daewoo Shipbuilding & Marine Engineering Co Ltd, Hyundai Heavy Industries…

01 Jun 2020

Qatar Petroleum in 'Largest LNG Shipbuilding Deal in History'

Saad Sherida Al-Kaabi - Qatar Petroleum CEO

Qatari state-owned oil and gas company Qatar Petroleum has entered into what it says "are the largest LNG shipbuilding agreements in history to secure more than 100 ships valued in excess of QR 70 billion [USD19,2 billion] to cater for its LNG growth plans." Qatar Petroleum said Monday it had entered into three agreements with Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI), and Samsung Heavy Industries (SHI), respectively, to reserve LNG ship construction capacity in South Korea‚Ķ

28 May 2020

Record Engine Powers World’s Largest Containership

HMM Algeciras has taken the title of world's largest containership. (Photo: YICT)

Everything about the HMM Algeciras is big, including the power output of its MAN B&W 11G95ME-C engine ‚Äď the mightiest ever built by Germany-based MAN Energy Solutions.The 23,964 TEU containership is the largest ever built, recently launched for South Korean shipping company HMM at the Daewoo Shipbuilding and Marine Engineering (DSME) Okpo shipyard in Geoje, Korea. The newbuild measures 400 metres in length and 61 meters in beam, and has recently entered service between Asia and Europe via the Suez Canal.The record-setting containership is the first of a dozen 24‚Ķ

27 May 2020

KR, Samsung Heavy Industries to Maritime Study Cyber Security

Representatives from both Korean Register and Samsung Heavy Industries following the MOU signing. (Photo: KR)

Korean Register (KR) signed a Memorandum of Understanding (MOU) with shipbuilder Samsung Heavy Industries (SHI) to conduct a joint study on ‚ÄúShip Cyber Security Network Construction and Design Safety Evaluation‚ÄĚ at the Marine Engineering Research Center of SHI.Under the MOU, the two organizations have agreed to evaluate the construction and design safety of cyber security networks applicable to new ships. In addition, they will jointly study technologies that can respond to cyber threats faced by ships‚Ķ

27 May 2020

First Topside Module Lifted on Coral South FLNG Hull

The Coral South FLNG hull was launched in January - Credit: Eni

Eni-operated Coral South FLNG project is making progress with the first topside module installed aboard the hull of the under-construction FLNG unit destined to develop offshore gas fields in Area 4 of the Rovuma Basin, Mozambique.Coral FLNG SA, an Eni-led JV developing the project, said Wednesday that the power generation module had been lifted aboard the hull, marking the start of the integration between the hull, launched in January, and the massive topside (12 process modules of around 70…

26 May 2020

World's Largest Containership Sails Through the Suez Canal

HMM Algeciras sails through the Suez Canal on its maiden voyage (Photo: Suez Canal Authority)

The world's largest containership, HMM Algeciras, passed through the Suez Canal on Monday as the record-setting 24,000 TEU class vessel makes its maiden voyage from Asia to Europe.Built at Daewoo Shipbuilding & Marine Engineering’s (DMSE) Okpo shipyard in Geoje, South Korea, the 399.9-meter HMM Algeciras has a capacity of 23,964 TEU and is the first of 12 vessels of the same class, design and size contracted to be built by DSME and Samsung Heavy Industries (SHI).Delivered in April…

26 May 2020

AET Takes Delivery of Petrobras-bound Shuttle Tanker

Image Credit: AET

Tanker operator AET has taken delivery of Eagle Petrolina shuttle tanker which will be used to offload oil from Petrobras' offshore oil platforms in Brazil.The Eagle Petrolina, built by South Korea's Samsung Heavy Industries, is the first of four Suezmax Dynamic Positioning (DP2) Shuttle Tankers purposed built for long-term charter to Petrobras.The two companies entered into a long-term charter for the four shuttle tankers in May 2018.The Eagled Petrolina was delivered to AET on May 22…

12 May 2020

Samsung Delivers LNG Carrier to GasLog

(Photo: GasLog)

Greek shipowner GasLog has taken delivery of a newbuild liquefied natural gas (LNG) carrier from Korean shipbuilder Samsung Heavy Industries. The 180,000-cubic-meter-capacity GasLog Wales will operate on a 12-year time charter agreement with the principal LNG shipping entity of Japan’s JERA, GasLog said in its latest quarterly report.The handover follows the April 1 delivery of Samsung-built sister ship GasLog Windsor, now on a seven-year charter with a wholly owned subsidiary…

24 Apr 2020

World's Largest Containership HMM Algeciras Launched

HMM Algeciras (Photo: HMM)

South Korean ocean carrier HMM held a naming ceremony for the newly constructed 24,000 TEU-class containership HMM Algeciras, the world‚Äôs largest containership, at the Daewoo Shipbuilding & Marine Engineering‚Äôs (DMSE) Okpo shipyard in Geoje, Korea.The 399.9-meter HMM Algeciras is the first of a dozen 24,000 TEU-class vessels scheduled to be delivered this year, and takes the "world's largest" title from the 23,656 TEU Gülsün-Class ships owned by Mediterranean Shipping Co (MSC).In September 2018‚Ķ

14 Apr 2020

Saipem Crew in Isolation after COVID-19 Case on Pipelaying Vessel

File Photo; Saipem FDS Vessel - Image by Juan J.Diaz Cantizano

Several crewmembers aboard Saipem's offshore vessel FDS in a port in the Netherlands have been placed in isolation after a confirmed COVID-19 case aboard.As reported by Saipem last Friday, one crewmember on the pipelayer was disembarked and transferred to isolation after he was confirmed positive.Responding to Offshore Engineer's requests on how many people were tested, and how many were on board the vessel, Saipem said: "Only one colleague was tested, disembarked and placed in quarantine as he had significant symptoms (high fever and suspected pneumonia).

14 Apr 2020

Samsung Heavy Scores $209M Order for Two LNG-Fueled VLCCs

Image Credit: Samsung Heavy Industries

South Korea's Samsung Heavy Industries has signed a contract worth $209.2 million (KRW 253.6 billion) with a Bermudan ship owner to build two LNG-fueled VLCCs, which will be delivered by April 2022.The Very Large Crude Carriers will be equipped with S-Fugas, an LNG fueling system independently developed by SHI, that will see the vessels will comply with IMO 2020 which took effect early this year and reduce the emission of SOx by 99%, NOx by 85% and carbon dioxide by 25% compared to diesel fuel.The VLCC's will be equipped with SHI's Energy Saving Devices (ESDs)…

13 Apr 2020

Saipem Employee Dies of 'Natural Causes' Aboard Offshore Vessel

Image Credit: CapTom - MarineTraffic

A Saipem employee died last Friday aboard the company's offshore vessel FDS in a port in the Netherlands. Saipem said that the death occurred "due to natural causes" not related to coronavirus. However, the company did confirm that one crewmember tested positive for coronavirus"Saipem informs that the death which has occurred today onboard the Saipem FDS ship, currently located in the port district of Waalhaven in Rotterdam, happened due to natural causes, as confirmed by the investigations of the Dutch authorities.

07 Apr 2020

Korean Shipyards Test LNG Pumps in Denmark

The Svaneh√łj test tower is an unrivaled tool to validate how the deepwell pumps operate in the most extreme conditions. (Photo: Svaneh√łj Group A/S)

Nothing is left to chance when Korean shipyards Samsung Heavy Industries and Hyundai Heavy Industries are building giant gas tankers worth billions of dollars."It‚Äôs as close to reality as we can possibly get," says Project Manager Lars Foged from Svanehøj, which designs and manufactures deep well and in-line pumps for applications in areas such as relief of liquefied gas, management of gas fuel, engine cooling, fire protection and scrubber technology.In recent months, Foged and his colleagues have been busy in the pump factory‚Äôs 35-metre test tower in Aalborg, Denmark.

27 Mar 2020

Valaris to Lose $620,000 a Day Rig Deal with Total after BOP Drop off Angola

Valaris DS-8 (formerly known as Ensco DS-8) - Credit: Harvey Wilson - MarineTraffic

Valaris, the world's largest offshore drilling company by fleet size, is set to lose one of the most lucrative contracts in the offshore drilling industry today after it recently accidentally dropped a blowout preventer stack to seabed offshore Angola.The contract, at a day rate of $620,000 per day, is with the French oil major Total for the drillship Valaris DS-8. The Samsung GF12000 designed drilling rig has been drilling for Total since 2015.As previously reported, Valaris earlier in March said it had accidentally dropped Blowout Preventer Stack to the seafloor of Angola…

25 Mar 2020

Wärtsilä Testing Ammonia as a Marine Fuel

Wärtsilä is testing ammonia as a viable fuel for shipping and energy sector applications (Photo: Wärtsilä)

As marine operators and euipment manufacturers continue to explore alternative marine fuels as a means to help lower vessel emissions, technology group Wärtsilä said it has initiated combustion trials using ammonia.As part of the tests, ammonia was injected into a combustion research unit to better understand its properties. Based on initial results, the tests will be continued on both dual-fuel and spark-ignited gas engines. These will be followed by field tests in collaboration with ship owners from 2022‚Ķ

12 Mar 2020

Murphy Charters Pacific Drilling Drillship for Mexico Wells

Pacific Sharav - Image by V. TONIC -Marine Traffic

Deepwater drilling rig contractor Pacific Drilling has found more work for its Pacific Sharav drillship.The drilling company on Wednesday revealed that Murphy Oil had hired the drillship for work offshore Mexico. According to the fleet status report, Murphy has agreed to charter the unit for two firm wells and one optional well.The day rate for the 2014-built drillship has been set to $230,000, and the contract is expected to start in November and last until February 2021.Pacific…

03 Mar 2020

SHI Wins $314M Orders for 3 Shuttle Tankers

Image: Samsung Heavy Industries

South Korean shipyard giant Samsung Heavy Industries (SHI) has won a 361.1 billion won ($314.4 million) deal to build three shuttle tankers in Asia.The shipbuilder disclosed in a regulatory filing that Suezmax shuttle tankers will be delivered to the unnamed Asian shipper by July 2022.A shuttle tanker is a ship designed to transport oil from an offshore oil field to a storage tank and is equipped with a variety of offloading equipment.Samsung Heavy said it is the leading player in the global shuttle tanker market…

27 Feb 2020

Busan Builds Logistics Center in Rotterdam

Image: Port of Rotterdam

South Korean port company Busan Port Authority (BPA) said that it signed a contract with Samsung SDS to operate a logistics center in Rotterdam.BPA will begin a construction of the logistics center in September this year and complete and operate it in around June 2021.Samsung SDS, a subsidiary of Samsung group has been providing information technology services,  will provide comprehensive logistics services for small and medium-sized companies conducting business between Europe‚Ķ

28 Jan 2020

Bahrain LNG Import Terminal Complete

Image: Bahrain LNG

Bahrain LNG, the developer and owner of the first LNG receiving and regasification terminal developed on a public-private partnership (PPP) basis, has completed the mechanical construction and commissioning of the terminal.The customer is paying Bahrain LNG  as of completion and is sending out the last of the commissioning cargo so that the FSU Bahrain Spirit can redeploy on short‚Äźterm trade as intended. Most of the construction and commissioning contractors were able to be demobilized accordingly.Shaikh Mohamed bin Khalifa Al‚ÄźKhalifa‚Ķ

15 Jan 2020

Partners Developing Ammonia-fueled Tanker

(Photo: LR)

Maritime industry partners striving to advance shipping's decarbonization efforts are working to develop an ammonia-fueled tanker, classification society Lloyd's Register (LR) announced.The joint development project (JDP) involving LR and shipping line MISC Berhad, builder Samsung Heavy Industries (SHI) and engine maker MAN Energy Solutions aims to develop commercially viable deep-sea zero-emissions vessels (ZEVs) that would be operational by 2030, ahead of the International Maritime Organization’s 2050 greenhouse gas (GHG) emissions target.Nick Brown…

13 Jan 2020

HMM to Launch Mega-Ships in April

Image: Hyundai Merchant Marine

South Korean logistics major Hyundai Merchant Marine (HMM) will introduce the largest container vessels of the world in April. These mega-ships will be deployed on the company’s Asia-Europe services.According to BusinessKorea HMM will put into operation a total of 12 24,000-TEU super large vessels, one per week, staring this April, the Busan New Port Terminal said on Jan. 12.The boxships are under construction at Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME).HMM will start its services as an official member of “The Alliance…

12 Jan 2020

SHI Eyes Russia's $3Bn LNG Carrier Order

Image: Samsung Heavy Industries

South Korea shipbuilder Samsung Heavy Industries (SHI) may receive an order from Russia‚Äôs largest independent gas producer Novatek for 10 additional ice-breaking LNG carriers worth US$3Bn.A report by Business Korea said Novatek has asked the Russian Government to approve its plan to place an order at an ‚Äúoverseas shipyard‚ÄĚ.If the Russian government approves the scheme, the number of LNG carriers to be used for Russia‚Äôs Arctic LNG project will increase to 25, including the 15 units that will be built by Zvezda‚Ķ

18 Dec 2019

Capital Product Partners Acquires Boxship Trio

Image: Capital Product Partners

Capital Product Partners (CPLP), a Greek shipping company engaged in the seaborne transportation, has agreed to acquire three 10,000 TEU sister container ships for USD 162.6 million from Capital Maritime & Trading Corp.The ships, M/V Athos, the M/V Aristomenis and the M/V Athenian, were built in 2011 at Samsung Heavy Industries S. Korea.The vessels are under long-term time charters with Hapag-Lloyd which will expire in April 2024, said a press note from the shipping company.The gross charter rate for each vessel currently amounts to $27…

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