krogragg

Category: South Korea

  • KMTC tied to six HD Hyundai boxships

    KMTC tied to six HD Hyundai boxships Seoul-based liner operator Korea Marine Transport Co (KMTC) has emerged as the owner behind a series of six feeder containership newbuildings booked at HD Hyundai Group yards. Shipbuilding sources say KMTC is the Asian owner behind a KRW 372.4bn ($258m) contract disclosed last week by HD Korea Shipbuilding…

  • Celsius seals Samsung Heavy LNG carrier order

    Celsius seals Samsung Heavy LNG carrier order Celsius Tankers, part of Danish owner Celsius Shipping, has placed an order for an additional 180,000 cu m LNG carrier with South Korea’s Samsung Heavy Industries. The deal brings Celsius Tankers’ LNG fleet to 24 vessels, bolstering the company’s ongoing expansion in the segment. Samsung Heavy Industries confirmed…

  • Sinokor now controls one in four compliant VLCCs

    Sinokor now controls one in four compliant VLCCs One in four compliant VLCCs are now controlled by Ga-Hyun Chung-led Sinokor, according to analysis by Norwegian broker Fearnleys, following the Korean company’s dramatic supertanker raid in the S&P and charter markets over the past few months. Fearnleys suggests Sinokor now controls about 25% of the compliant…

  • Sinokor becomes the world’s ‘super operator’ of supertankers

    Sinokor becomes the world’s ‘super operator’ of supertankers Sinokor’s stunning raid in the tanker markets over the past two months is making the Korean shipowner the largest operator of VLCCs in the world.  Sinokor’s recent purchase of potentially over 50 secondhand VLCCs, plus the company’s securing of a significant volume of tonnage under time charter,…

  • Tsakos lines up return to LNG newbuilds in South Korea

    Tsakos lines up return to LNG newbuilds in South Korea Greece’s Tsakos Energy Navigation (TEN) is moving closer to a return to the LNG carrier newbuilding market, lining up its first gas ship orders in roughly seven years. Shipbuilding sources say the Tsakos Group is finalising a deal with HD Hyundai Heavy Industries for two…

  • Esvagt–KMC venture lines up CTV build backed by Vestas deal in South Korea

    Esvagt–KMC venture lines up CTV build backed by Vestas deal in South Korea KESTO, the offshore wind joint venture between Denmark’s Esvagt and South Korean shipping company KMC Line, has secured its first contracts, signing a long-term vessel deal with turbine maker Vestas for the Shinan-Ui offshore wind farm. Under the agreement, KESTO will provide…

  • Sonangol books LNG carrier newbuild in South Korea

    Sonangol books LNG carrier newbuild in South Korea Angola’s state-controlled energy company Sonangol is moving to grow its gas shipping exposure, placing an order for a new LNG carrier in South Korea. HD Hyundai Samho Heavy Industries has secured the contract to build a 174,000 cu m unit, according to a regulatory filing by the…

  • JHI Steamship widens tanker bet with HD Hyundai suezmaxes

    JHI Steamship widens tanker bet with HD Hyundai suezmaxes Greek shipowner JHI Steamship has stepped up its tanker expansion with an order for two suezmax newbuildings at HD Hyundai Samho Heavy Industries in South Korea. The 157,000 dwt crude carriers are scheduled for delivery between the fourth quarter of 2028 and the second quarter of…

  • Alpha Gas inks $500m LNG carrier order at Hanwha Ocean

    Alpha Gas inks $500m LNG carrier order at Hanwha Ocean Greek gas shipowner Alpha Gas has resurfaced in the newbuilding market, placing an order for two LNG carriers at South Korea’s Hanwha Ocean.T The shipbuilder said the contract, secured for its Okpo yard in Geoje, is valued at KRW738.3bn ($503m). Hanwha Ocean did not disclose…

  • Sinokor to top VLCC operator charts following stunning S&P raid

    Sinokor to top VLCC operator charts following stunning S&P raid Sinokor’s stunning raid in the tanker sale and purchase markets over the past six weeks is on course to make the Korean shipowner the largest operator of VLCCs in the world.  Brokers are agog at Sinokor’s market-altering decision to largely exit the container scene, selling…

  • Nordic American Tankers firms up Korean yard choice with Daehan deal

    Nordic American Tankers firms up Korean yard choice with Daehan deal Nordic American Tankers has firmed up its move into new steel, signing contracts for two suezmax newbuildings in South Korea as the New York-listed owner continues to reshape its fleet. The Herbjørn Hansson-led company said the previously announced preliminary agreements have now been converted…

  • Turkey’s Aygaz makes VLGC debut in $119m South Korea deal

    Turkey’s Aygaz makes VLGC debut in $119m South Korea deal Turkey’s Aygaz is making its first move into the very large gas carrier space, signing a $119m newbuilding contract with South Korea’s HD Hyundai Samho. The Istanbul-based LPG distributor said in a stock exchange filing that the yard will build a VLGC for delivery in…

  • Asyad Shipping steps up VLCC expansion with fresh Hanwha Ocean order

    Asyad Shipping steps up VLCC expansion with fresh Hanwha Ocean order Oman’s Asyad Shipping has added further weight to its crude tanker ambitions, signing contracts for three new VLCCs at South Korea’s Hanwha Ocean. The state-linked owner, part of the Asyad Group logistics platform, confirmed it placed the order, covering three 300,000 dwt newbuilds at…

  • Korean-developed wing sail mounted on an HMM tanker

    Korean-developed wing sail mounted on an HMM tanker Korean shipping and shipbuilding interests are stepping up collaboration on wind-assisted propulsion. HD Korea Shipbuilding & Offshore Engineering (HD KSOE), HD Hyundai’s mid-level holding company for institutional shipbuilding, has begun sea trials of its self-developed Wing Sail system after installing a prototype on a tanker operated by…

  • South Korea puts Arctic shipping on policy map with first boxship trial

    South Korea puts Arctic shipping on policy map with first boxship trial South Korea has formally elevated Arctic shipping into national policy, with Seoul planning its first-ever container ship trial voyage via the Northern Sea Route later this year. The Ministry of Oceans and Fisheries (MOF) confirmed it is preparing a September trial using a…

  • Korean Register taps veteran insider as new chairman

    Korean Register taps veteran insider as new chairman Classification society Korean Register (KR) has appointed Lee Yongsok as its 26th chairman and chief executive. Lee, who took the helm following an election at an extraordinary general assembly held on December 23, is a long-serving KR executive, having joined the society in 1995. Over the past…

  • Knutsen books new LNG carrier at Hanwha Ocean backed by Edison charter

    Knutsen books new LNG carrier at Hanwha Ocean backed by Edison charter Norway’s Knutsen Group has firmed up another LNG newbuild in South Korea, ordering a 174,000 cu m carrier at Hanwha Ocean on the back of a long-term charter deal with Italy’s Edison. The contract will see the vessel deliver and begin its charter…

  • HD Hyundai readies $2bn giant yard in southern India

    HD Hyundai readies $2bn giant yard in southern India South Korea’s HD Hyundai has signed a partnership with the Tamil Nadu state government regarding the establishment of a new $2bn shipyard in Madurai in southern India.  The Thoothukudi region of Tamil Nadu already hosts major Korean companies such as Hyundai Motor and Samsung Electronics, and large-scale…

  • Bidders circle again as Dongwon revives hunt for HMM

    Bidders circle again as Dongwon revives hunt for HMM The race to acquire state-controlled South Korean flagship HMM is heating up once again. Two years after the first sale attempt failed, Dongwon Group, South Korea’s largest fishing company, has signalled its renewed interest, stirring up the market.  Although the company’s valuation has soared to as…

  • HMM orders four boxships at Hanwha Ocean

    HMM orders four boxships at Hanwha Ocean In a busy week for HMM’s expansion plans, South Korea’s flagship line has tapped Hanwha Ocean to build four 13,000 teu ships in a deal worth $730m. The ships will deliver in 2029. On Monday, Splash reported HMM had contracted HD Hyundai for eight 13,400 teu LNG dual-fuel…

  • BW LNG linked to two-ship LNG carrier order at HD Hyundai Samho

    BW LNG linked to two-ship LNG carrier order at HD Hyundai Samho BW LNG is surfacing as the buyer behind a fresh order for two large LNG carriers at HD Hyundai Samho Heavy Industries, after the South Korean yard confirmed a KRW741.2bn ($507m) contract last week. Clarksons’ weekly newbuilding report names BW Group’s gas arm…

  • American private equity eyes Korean yard investment

    American private equity eyes Korean yard investment Taekwang Group has muscled into the bidding war for K Shipbuilding, joining forces with TPG, a US private equity firm formerly known as Texas Pacific Group. The consortium has submitted a letter of intent to acquire management control of the Jinhae-based yard, one of three confirmed bidders for…

  • Samsung Heavy to build Amogy ammonia power systems

    Samsung Heavy to build Amogy ammonia power systems US ammonia power specialist Amogy has teamed up with Samsung Heavy Industries (SHI) in a multi-year strategic partnership to manufacture its ammonia-to-power systems in South Korea. Under the agreement, SHI will set up a dedicated facility to produce and test Amogy’s systems for both maritime and land-based…

  • Scorpio Tankers back in VLCC game with Hanwha Ocean deal

    Scorpio Tankers back in VLCC game with Hanwha Ocean deal Monaco-based Scorpio Tankers has made a surprise return to the crude carrier newbuilding market after more than a decade, signing up for two very large crude carriers (VLCCs) at South Korean yard Hanwha Ocean. The New York-listed product tanker giant has inked letters of intent…

  • AET expands dual-fuel fleet with suezmax pair at Samsung Heavy

    AET expands dual-fuel fleet with suezmax pair at Samsung Heavy AET has placed an order at Samsung Heavy Industries (SHI) for two LNG dual-fuel suezmax tankers, further expanding its fleet of lower-emission vessels. The Singapore-based tanker arm of Malaysia’s top shipping line, MISC, said the latest deal marks a key step in its push to…

  • Greek owner JHI Steamship books aframax tankers in South Korea

    Greek owner JHI Steamship books aframax tankers in South Korea Greek shipowner JHI Steamship has signed up for its first-ever newbuildings in South Korea, ordering two firm plus one optional 115,000 dwt aframax tankers at K Shipbuilding. Shipbuilding sources said each vessel is priced at $75m, with deliveries set for 2027–2028. The deal, valued at…

  • HMM joins the exclusive teu millionaires club

    HMM joins the exclusive teu millionaires club South Korea’s flagship carrier HMM has become the eighth member of the exclusive teu millionaires club. HMM’s fleet now stands at 1,007,180 teu, according to analysis by Alphaliner, which noted in its most recent weekly report that the Korean carrier’s operated capacity has doubled over the past five…

  • Zodiac Maritime takes the plunge with suezmax orders in Vietnam

    Zodiac Maritime takes the plunge with suezmax orders in Vietnam UK-headquartered Zodiac Maritime has achieved another shipbuilding first, becoming the first client of Samsung Heavy Industries’ newly controlled Vietnam shipyard, committing to three firm conventionally fuelled suezmax tankers with options, priced at $80m per unit and delivering in 2028. Each vessel, with a capacity of…

  • Swedish tidal energy developer sees South Korea as ‘highly attractive market’

    Swedish tidal energy developer sees South Korea as ‘highly attractive market’ Swedish tidal energy developer Minesto has taken part in a high-level delegation visit to […] The post Swedish tidal energy developer sees South Korea as ‘highly attractive market’ appeared first on Offshore Energy. Nadja Skopljak Go to offshore energy biz

  • HMM tied to $2.2bn boxship orders

    HMM tied to $2.2bn boxship orders Broking reports list a sizeable order from South Korea’s flagship carrier worth more than $2bn in total.  HMM is reported to have ordered 12 LNG dual-fuelled, 14,000 teu containerships on home soil. The vessels, thought to be costing around $182.5m per unit are split between two of the country’s…

  • Capital Maritime emerges behind HD Hyundai Mipo feeder orders

    Capital Maritime emerges behind HD Hyundai Mipo feeder orders Evangelos Marinakis-led Capital Maritime Group has been linked to the latest round of feeder containership contracts at HD Hyundai Mipo Dockyard in South Korea. Shipbuilding sources said the Greek owner is behind orders for two 2,800 teu units priced at around $56.9m each and one 1,800…

  • Advantage Tankers firms fresh VLCC and suezmax orders in South Korea

    Advantage Tankers firms fresh VLCC and suezmax orders in South Korea Geneva-based Advantage Tankers has stepped up its move into the large tanker segment with fresh orders in South Korea, adding one very large crude carrier (VLCC) and two suezmaxes to its books. Industry sources said the Tugrul Tokgoz-led outfit has exercised an option for…

  • Latsco ends MR order drought with K Shipbuilding deal

    Latsco ends MR order drought with K Shipbuilding deal Greek shipowner Latsco Shipping has returned to the product tanker newbuilding market after nearly a decade, with sources linking the company to a fresh order at South Korea’s K Shipbuilding. Shipbuilding players in Athens and Seoul said Latsco, controlled by the Latsis family and led by…

  • HD Hyundai eyes US yard in bid to cash in on Trump’s shipbuilding revival

    HD Hyundai eyes US yard in bid to cash in on Trump’s shipbuilding revival South Korea’s HD Hyundai Heavy Industries has confirmed it is in talks with multiple firms to buy a US shipyard, a move aimed at tapping into Washington’s resurgent naval build-up under president Donald Trump. A senior HD Hyundai executive told Reuters…

  • HMM signs long-term contract with Vale

    HMM signs long-term contract with Vale HMM has signed a long-term contract of affreightment (COA) with Brazil’s Vale, valued at KRW430bn ($309m). This is the second contract signed between the two companies, following a KRW 636bn, 10-year deal concluded in May. Under the new agreement, HMM will transport iron ore using five bulk carriers over…

  • Korea Shipowners’ Association hits out at POSCO’s HMM takeover plans

    Korea Shipowners’ Association hits out at POSCO’s HMM takeover plans The Korea Shipowners’ Association has hit out at reports the country’s top steel mill is being linked with taking over national flagship, HMM. Splash reported last week that advisors from Samil PwC and Boston Consulting Group have been working with POSCO on feasibility studies for…

  • Tsakos adds to VLCC orderbook at Hanwha Ocean

    Tsakos adds to VLCC orderbook at Hanwha Ocean Greece’s Tsakos Energy Navigation (TEN) has expanded its VLCC newbuilding programme at South Korea’s Hanwha Ocean, adding one firm vessel and securing an option for a fourth. The new order builds on the two 320,000 dwt units TEN booked at the yard earlier this year. Those ships,…

  • Evalend swells suezmax orderbook in South Korea

    Evalend swells suezmax orderbook in South Korea Greek owner Evalend Shipping has bolstered its suezmax newbuilding orderbook in South Korea, with two additional units lined up for construction at HD Hyundai Samho. Shipbuilding sources have named the Kriton Lendoudis-led company behind the recently announced order for a pair of 157,000 dwt newbuilds with delivery expected…

  • POSCO circles HMM as speculation mounts on state-backed exit

    POSCO circles HMM as speculation mounts on state-backed exit Speculation is mounting in Seoul that steel giant POSCO could emerge as the frontrunner to acquire a controlling stake in liner major HMM. Local media report that advisors from Samil PwC and Boston Consulting Group are understood to be working with POSCO on feasibility studies for…

  • Splash Wrap: Koreans bankroll America’s rusting docks

    Splash Wrap: Koreans bankroll America’s rusting docks Shipbuilding has become a central part of trade diplomacy in the Trump era. As well as a customised gold putter, it was noticeable that the Korean president, Lee Jae Myung, also presented Donald Trump with a model of an ancient Korean battleship when the pair met up earlier…

  • South Korea to construct ‘first’ commercial biomethanol production site

    South Korea to construct ‘first’ commercial biomethanol production site South Korean clean fuel and renewable energy production company Biofriends and compatriot K-biogas manufacturer […] The post South Korea to construct ‘first’ commercial biomethanol production site appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz

  • HD Hyundai Heavy and Hyundai Mipo to merge

    HD Hyundai Heavy and Hyundai Mipo to merge South Korea’s HD Hyundai Heavy Industries has rolled out plans to merge with its affiliate HD Hyundai Mipo Dockyard by the end of the year, aiming to strengthen its position in the US naval and Arctic shipbuilding markets. The move comes after a Korea-US summit highlighted shipbuilding…

  • Hanwha bankrolls Philly revival in showpiece of Korea-US shipbuilding pact

    Hanwha bankrolls Philly revival in showpiece of Korea-US shipbuilding pact Hanwha Group has unveiled a $5bn expansion plan for Hanwha Philly Shipyard as well as ordering 10 tankers to be built in Philadelphia, in a landmark moment for Korea-US industrial cooperation designed to revive American shipbuilding. The announcement was made on Tuesday at the christening…

  • Seoul bets on shipbuilding to keep Trump sweet

    Seoul bets on shipbuilding to keep Trump sweet South Korea is making shipbuilding the anchor of its trade diplomacy with Washington, rolling out billions in promises to revive America’s rusted yards in a bid to keep Donald Trump on side. President Lee Jae Myung’s first US trip saw him push a $350bn investment package, with…

  • New emission monitoring partnership to ‘bolster’ South Korea’s maritime decarbonization drive

    New emission monitoring partnership to ‘bolster’ South Korea’s maritime decarbonization drive The Korea Ocean Business Corporation (KOBC) has joined forces with compatriot greenhouse gas (GHG) […] The post New emission monitoring partnership to ‘bolster’ South Korea’s maritime decarbonization drive appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz

  • Bill Gates in Korea to further nuclear-powered ships project with HD Hyundai

    Bill Gates in Korea to further nuclear-powered ships project with HD Hyundai Bill Gates, in his role as founder of TerraPower, met with HD Hyundai’s executive vice-chairman Chung Kisun in Seoul today to further a strategic partnership aiming to commercialise small modular reactor (SMR) propulsion. The meeting—after their March rendezvous in the US—centred on scaling…

  • HD Hyundai buys Doosan’s Vietnam yard for $207m

    HD Hyundai buys Doosan’s Vietnam yard for $207m HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the holding company of HD Hyundai Group, has struck a deal to acquire Doosan Vina, the Vietnamese manufacturing unit of Doosan Enerbility, in a transaction worth 290bn won ($207.5m). The deal will see HD KSOE take full control of…

  • TMS Cardiff Gas and Celsius tied to $1.5bn Samsung LNG orders

    TMS Cardiff Gas and Celsius tied to $1.5bn Samsung LNG orders Two well-known names in LNG shipping have been linked to fresh orders at Samsung Heavy Industries, as newbuilding activity in the gas carrier segment shows signs of life. The South Korean yard confirmed this week it had secured contracts for six 174,000 cu m…

  • KMTC upsizes fleet with $600m order at HD Hyundai

    KMTC upsizes fleet with $600m order at HD Hyundai Korea Marine Transport Co (KMTC) has been linked to its biggest move yet in the newbuild market, locking in an order for four 13,000 teu containerships at HD Hyundai yards. Brokers report the Seoul-based liner operator has committed to the quartet at around $150m per ship,…

  • HD Hyundai’s new Philippine yard to open in January with capacity for 10 ships a year

    HD Hyundai’s new Philippine yard to open in January with capacity for 10 ships a year South Korea’s HD Hyundai is set to start shipbuilding in the Philippines from January next year, with a revamped Subic Bay yard capable of turning out up to 10 vessels annually. The shipbuilding giant has signed a 10-year lease…

  • Kmarin books newcastlemax newbuilds in China

    Kmarin books newcastlemax newbuilds in China South Korea’s Kukje Maritime Investment (Kmarin) has returned to the newbuilding market with an order for two newcastlemax bulk carriers, ending a seven-year absence from the shipyard orderbooks. The Seoul-based owner has contracted Jiangsu New Hantong Ship Heavy Industry to build the 210,000 dwt vessels. No price or delivery…

  • South Korea to invest $150bn in US shipbuilding

    South Korea to invest $150bn in US shipbuilding South Korea has agreed to invest $150bn into a dedicated US shipbuilding revitalisation fund, as part of a $350bn bilateral trade agreement signed Wednesday in Washington. The move—touted as the largest Korean industrial investment in US history—aims to inject new life into America’s struggling shipyards while simultaneously…

  • CK Line books up to four feeder boxships at Yangzijiang

    CK Line books up to four feeder boxships at Yangzijiang South Korea’s CK Line has placed an order for up to four feeder containerships at China’s Yangzijiang Shipbuilding. The Seoul-based liner operator has booked two firm 1,100 teu newbuilds at around $23 per ship, with options secured for two more. The first two units are…

  • Capital Maritime takes option on HD Hyundai Mipo boxship brace

    Capital Maritime takes option on HD Hyundai Mipo boxship brace Greece’s Capital Maritime has firmed up an order for two more LNG dual-fuel 2,800 teu containerships at HD Hyundai Mipo Dockyard in South Korea, bringing its total number of newbuildings to 10. The deal is valued at around $113m, with deliveries expected in July and…

  • Hanwha orders historic LNG carrier from US yard

    Hanwha orders historic LNG carrier from US yard South Korea’s Hanwha Group has placed a landmark order for a liquefied natural gas (LNG) carrier at its US-based Hanwha Philly Shipyard — the first such export-market-viable vessel to be built in the United States in nearly half a century. The order, valued at a minimum of…

  • Construction of ‘Asia’s largest HVDC cable facility’ wraps up

    Construction of ‘Asia’s largest HVDC cable facility’ wraps up South Korean subsea cable manufacturer LS Cable & System has completed the construction of […] The post Construction of ‘Asia’s largest HVDC cable facility’ wraps up appeared first on Offshore Energy. Nadja Skopljak Go to offshore energy biz

  • Yang Ming books LNG-fuelled boxship series at Hanwha Ocean

    Yang Ming books LNG-fuelled boxship series at Hanwha Ocean Taiwanese shipping line Yang Ming Marine Transport has lined up a series of containership newbuilds at South Korean shipbuilder Hanwha Ocean, continuing its fleet renewal programme with a focus on dual-fuel technology. The company has booked seven LNG dual-fuel 15,500 teu vessels in a deal valued…

  • USTR threat hits Chinese shipyards as global orders slump

    USTR threat hits Chinese shipyards as global orders slump A contraction in Chinese shipbuilding orders has been registered in the first half of 2025, with Beijing’s once unassailable dominance increasingly under pressure from geopolitical tensions and a softening global market. According to new data from BIMCO, China’s share of newbuilding contracts dropped from 72% to…

  • HSG Sungdong returns to shipbuilding spotlight with Samsung Heavy tie-up

    HSG Sungdong returns to shipbuilding spotlight with Samsung Heavy tie-up HSG Sungdong Shipbuilding, once one of the top 10 shipbuilders in the world, has re-entered the finished shipbuilding market, forging a strategic partnership with Samsung Heavy Industries and securing major orders in offshore wind and marine infrastructure. After years of financial hardship that culminated in…

  • HD Hyundai eyes Morocco shipyard

    HD Hyundai eyes Morocco shipyard South Korea’s HD Hyundai Heavy Industries is eyeing a strategic leap into North Africa, as it seeks to secure long-term operating rights for Morocco’s flagship Casablanca shipyard. The latest global expansion effort comes at a time when South Korea’s largest shipbuilder aimed faces production bottlenecks at home amid a record…

  • Advantage Tankers bolsters VLCC orderbook

    Advantage Tankers bolsters VLCC orderbook Geneva-based Advantage Tankers has returned to South Korea’s Hanwha Ocean with a fresh order for another VLCC newbuilding as part of a growing strategic push into the larger tanker segment. Industry sources report that the Tugrul Tokgoz-led company has declared an option for a third 320,000 dwt unit at the…

  • HD Hyundai deepens robotics push with German partnership as shipyard humanoids take shape

    HD Hyundai deepens robotics push with German partnership as shipyard humanoids take shape As labour shortages continue to challenge the shipbuilding sector, South Korea’s HD Hyundai has doubled down on robotics innovation, announcing a strategic partnership with German cognitive robotics pioneer NEURA Robotics and sister firm HD Hyundai Robotics. The three-way collaboration aims to develop…

  • Hanwha Shipping bags third VLCC newbuild

    Hanwha Shipping bags third VLCC newbuild Hanwha Shipping, the shipowning arm of South Korean builder Hanwha Ocean, has added another vessel to its growing in-house fleet, placing an order for an additional VLCC. The Okpo-based yard — formerly known as Daewoo Shipbuilding & Marine Engineering (DSME) — is scheduled to deliver the 300,000 dwt scrubber-fitted…

  • Navios Maritime adds to South Korean boxship newbuild series

    Navios Maritime adds to South Korean boxship newbuild series Greece’s Navios Maritime Partners is ramping up its exposure in the container shipping sector with a fresh order for four modern boxships at South Korea’s HJ Shipbuilding & Construction. The Angeliki Frangou-led company is understood to have signed for four 8,000 teu vessels, in a deal…

  • Sinokor books four boxships at HD Hyundai yards

    Sinokor books four boxships at HD Hyundai yards South Korean shipowner Sinokor Merchant Marine has placed an order with compatriot shipbuilder HD Hyundai, securing four containerships in a deal valued at KRW 834.8bn ($611m). HD Korea Shipbuilding & Offshore Engineering, the holding company of HD Hyundai, revealed the contract in a stock exchange filing, without…

  • Emerging Greek owner Venergy steps into newbuild market with MRs in South Korea

    Emerging Greek owner Venergy steps into newbuild market with MRs in South Korea Venergy Maritime, the Greece-based tanker newcomer led by Vyron Vasileiadis, has placed its first newbuilding order, contracting two MR product tankers at South Korea’s K Shipbuilding. The firm order for the 50,000 dwt pair is for delivery in the first quarter of…

  • LS Marine Solutions picks Turkish shipyard for cable layer construction

    LS Marine Solutions picks Turkish shipyard for cable layer construction South Korean subsea cable contractor LS Marine Solutions has signed a construction agreement with Turkey’s Tersan Shipyard to build a high-voltage direct current cable-laying vessel. According to the company, the new vessel will be Asia’s largest and one of the top five in its class…

  • South Korea’s top shipyard debuts its own sail device

    South Korea’s top shipyard debuts its own sail device With wind-assist technology going mainstream, South Korea’s largest shipbuilding group has debuted its only sail system. HD Korea Shipbuilding & Offshore Engineering, the holding company of HD Hyundai, has unveiled its Hi-Wing, a prototype of which has gone through land trials, and will shortly be tested…

  • Purus confirms South Korean LNG carrier order

    Purus confirms South Korean LNG carrier order UK-based shipowner Purus Marine has firmed up an order for a new LNG carrier at HD Hyundai Heavy Industries, adding to its growing gas carrier orderbook in South Korea. The Julian Proctor-led company has signed for a 180,000 cu m newbuild with delivery set for the fourth quarter…

  • Eastern Pacific signs up for Korean autonomous navigation tech

    Eastern Pacific signs up for Korean autonomous navigation tech Singapore-based Eastern Pacific Shipping (EPS) has lined up two of its managed vessels for the installation of artificial intelligence-based autonomous navigation technology developed by Hyundai Heavy Industries’s subsidiary Avikus. The project will see Avikus’ Hyundai intelligent Navigation Assistant System (HiNAS) Control, HiNAS Cloud and analytics platform…

  • HD Hyundai pitches port cranes to US Trade Representative

    HD Hyundai pitches port cranes to US Trade Representative Jamieson Greer, the US Trade Representative, has been in South Korea this week where shipbuilding talks have taken place as well as pitches made to become an alternate supply of port cranes.  As well as meeting with government officials, Greer sat down with HD Hyundai vice…

  • South Korea, United States to ‘strengthen’ shipbuilding ties

    South Korea, United States to ‘strengthen’ shipbuilding ties In what is described as a “historic moment”, the South Korean shipbuilding industry has […] The post South Korea, United States to ‘strengthen’ shipbuilding ties appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz

  • Esvagt and KMC Line firm up Korean offshore wind venture

    Esvagt and KMC Line firm up Korean offshore wind venture Danish offshore wind vessel operator Esvagt has officially formed a joint venture with South Korean shipping company KMC Line. The jv named KESTO will target the growing South Korean offshore wind market, where current plans include as much as 18.3 GW offshore wind to be…

  • South Korea wants to build ‘world’s largest’ liquefied hydrogen carrier

    South Korea wants to build ‘world’s largest’ liquefied hydrogen carrier South Korea’s government has revealed plans to build ‘the world’s largest’ liquefied hydrogen (LH2) carrier in an effort to develop a competitive advantage in this market segment and ensure the future of the Korean shipbuilding industry. The post South Korea wants to build ‘world’s largest’…

  • Nissen Kaiun in for HD Hyundai Mipo LPG brace

    Nissen Kaiun in for HD Hyundai Mipo LPG brace Low-profile shipowner Nissen Kaiun has returned to HD Hyundai Mipo Dockyard in Ulsan for a pair of LPR carriers. Multiple newbuilding sources have listed the Japanese shipping mammoth with two 45,000 cu m units booked at $73.5m each for delivery in 2027. The owner of more…

  • LS Marine Solution gets cabling deal on Taiwanese offshore wind farm

    LS Marine Solution gets cabling deal on Taiwanese offshore wind farm South Korea’s LS Marine Solution has won a $15.8m contract for the installation of subsea cables at a wind farm off Taiwan. The contract is LS Marine Solution’s first overseas order and the first time a South Korean company has entered the international subsea…

  • SteelShips back for more K Shipbuilding product tankers

    SteelShips back for more K Shipbuilding product tankers Piraeus and New York-based owner SteelShips has signed up for a fresh pair of medium-range product tanker newbuilds in South Korea. Shipbuilding sources report the Nicholas Notias-led outfit has returned to its go-to yard, K Shipbuilding, for two more 50,000 dwt units with delivery expected in 2027.…

  • ZIM ordered to pay Samsung $3.7m for US demurrage violations

    ZIM ordered to pay Samsung $3.7m for US demurrage violations Israeli carrier ZIM has been ordered to pay about $3.7m to Samsung Electronics America (SEA) for violating the US Shipping Act. The American affiliate of the Korean manufacturing giant filed a complaint with the Federal Maritime Commission (FMC) in October 2022, claiming Zim engaged in…

  • Philly Shipyard steps forward to meet US LNG carrier requirements

    Philly Shipyard steps forward to meet US LNG carrier requirements The Korean-controlled Philly Shipyard is gearing up to build the first LNG carriers in America since the 1970s. Following last week’s announcement by the US Trade Representative (USTR) on port fees designed to boost American shipbuilding, Hanhwa Ocean, which bought Philly Shipyard last year, has…

  • Japanese and Korean yards with investments in China on edge

    Japanese and Korean yards with investments in China on edge With Donald Trump widely tipped to pass judgement on extra fees for Chinese-linked tonnage calling at US ports in the next couple of days, another wrinkle has emerged that has not been widely discussed in Washington to date.  Trump’s tariff war against China late last…

  • Centrofin books four suezmaxes at Samsung Heavy

    Centrofin books four suezmaxes at Samsung Heavy Greece’s Centrofin has added tanker newbuildings to its orderbook in a deal with South Korean yard Samsung Heavy Industries. Shipbuilding sources have placed the Dimitris Procopiou-led company behind the order for four suezmaxes at about $83m per ship. Samsung announced the order without disclosing the owner, with deliveries…

  • North Korean iron ore shipments spark sanctions

    North Korean iron ore shipments spark sanctions The government of South Korea has imposed sanctions on a non-flagged vessel the country seized for illegally transporting iron ore produced in North Korea. Sanctions were also imposed on two Chinese nationals, Sun Zhengzhe and Sun Feng, who operated the ship and Russian company LLC Consul DV, which…

  • Purus signs for LNG carrier newbuild in South Korea

    Purus signs for LNG carrier newbuild in South Korea Purus Marine has contracted an LNG carrier newbuild in South Korea. Brokers have named the UK-based owner behind a newbuilding contract announced by HD Korea Shipbuilding & Offshore Engineering (HD KSOE) last week. HD Hyundai Samho will build the 180,000 cu m unit for about $262m,…

  • HD KSOE confirms Angolan suezmax orders

    HD KSOE confirms Angolan suezmax orders HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has firmed up a deal with Sonangol for a pair of suezmax tanker newbuildings. The shipbuilding intermediate holding company of HD Hyundai said in a filing the Angola state-controlled oil company is paying $176m to see the 157,000 dwt duo delivered…

  • LS Cable & Systems focuses subsidiaries on offshore wind

    LS Cable & Systems focuses subsidiaries on offshore wind South Korea-based electrical cable provider LS Cable & System has announced that it will be expanding its presence in the offshore wind market through several of its subsidiaries. The company said that Gaon Cable, LS Eco Energy, LS Materials, and LS Marine Solution will further strengthen…

  • Hanwha buys Austal stake

    Hanwha buys Austal stake South Korea’s Hanwha Group has taken a 9.9% stake in Australian shipbuilder Austal almost a year after it proposed a full takeover. Hanwha on Tuesday said it had acquired 41.2m shares in Austal, paying A$4.45 a share. Hanwha said it aims to become a long-term strategic partner to the Australian shipbuilder…

  • Ocean Winds secures license for 1,125MW Korean offshore wind project

    Ocean Winds secures license for 1,125MW Korean offshore wind project Ocean Winds, a joint venture between France’s Engie and Portuguese electric utilities company EDP, has been granted an electricity business license for its Hanbando wind farm off South Korea. The 1,125MW bottom-fixed project is located in the exclusive economic zone off Incheon. The license grants…

  • Oil player books three tanks at Odfjell’s growing South Korean terminal

    Oil player books three tanks at Odfjell’s growing South Korean terminal Odfjell Terminals Korea (OTK), a subsidiary of Norwegian shipping company Odfjell, has entered into a multi-year contract with South Korean oil refining and petrochemical company S-Oil for storage at its expanding Ulsan terminal. The post Oil player books three tanks at Odfjell’s growing South…

  • HMM takes Hosco newcastlemax

    HMM takes Hosco newcastlemax South Korean flagship line HMM has been linked to another secondhand purchase in the larger bulk carrier segment. Brokers report the Seoul-based company has snapped up the 2014-built newcastlemax Oriental Dragon from bulker owner Hebei Ocean Shipping Co (Hosco) in a deal valued at about $49.2m. Hosco bought the Imabari-built 207,800…

  • HMM enters due diligence to acquire SK Shipping

    HMM enters due diligence to acquire SK Shipping Korean private equity firm Hahn & Co has selected the nation’s flag carrier, HMM, as the preferred bidder for the sale of a majority stake in SK Shipping.  Due diligence is due to get underway through to the middle of next month. The deal faces one significant…

  • Balmoral teams with Korean firms for work on Equinor’s floating wind farm

    Balmoral teams with Korean firms for work on Equinor’s floating wind farm Balmoral Comtec, a subsidiary of offshore energy supply chain firm Balmoral has signed a memorandum of understanding (MoU) for work on Equinor’s Firefly floating wind project with South Korea-based LS Cable & System and LS Marine Solution. This agreement follows LS Cable &…

  • Hanwha Ocean building LNG carriers for its shipowning arm

    Hanwha Ocean building LNG carriers for its shipowning arm South Korean shipbuilder Hanwha Ocean has signed contracts to build two LNG carriers for its affiliate Hanwha Shipping. The Okpo-based yard formerly Daewoo Shipbuilding & Marine Engineering (DSME) is scheduled to deliver the vessels by the end of September 2027. Hanwha Shipping was formally launched by…

  • Evalend tied to HD Hyundai Mipo LNG bunker newbuilds

    Evalend tied to HD Hyundai Mipo LNG bunker newbuilds Greece’s Evalend Shipping has been linked to a newbuilding deal for four LNG bunkering vessels commissioned at the South Korean shipbuilder HD Hyundai Mipo. Multiple shipbroking outfits have named the Kriton Lendoudis-backed diversified owner behind the 18,000 cu m newbuilds booked at the yard in Ulsan…

  • Net-zero quest: South Korea, Australia to create green shipping corridor

    Net-zero quest: South Korea, Australia to create green shipping corridor South Korea and Australia have decided to establish a green shipping corridor to support international shipping’s zero-emission goals and create an environment for eco-friendly fuel supply. The post Net-zero quest: South Korea, Australia to create green shipping corridor appeared first on Offshore Energy. Naida Hakirevic…

  • South Korea’s H-Line taps domestic yard for LNG bunker vessel

    South Korea’s H-Line taps domestic yard for LNG bunker vessel South Korean owner H-Line Shipping has ordered an LNG bunkering vessel at domestic yard HJ Shipbuilding & Construction (HJSC). The contract covers an 18,000 cu m unit costing about KRW127bn ($87.6m) with no specified delivery date. H-Line’s fleet predominantly consists of capsize bulkers, but the…

  • CMA CGM inks 2025’s largest ship orders to date

    CMA CGM inks 2025’s largest ship orders to date France’s CMA CGM is being widely tipped as the European owner mentioned in a release today by HD Hyundai Heavy Industries behind the biggest ship orders in the year to date. Splash understands CMA CGM has contracted the Korean shipyard to build twelve 18,000 teu LNG…

  • Celsius seals Samsung Heavy LNG carrier order

    Celsius seals Samsung Heavy LNG carrier order Celsius Tankers, a unit of Danish owner Celsius Shipping, has ordered an additional 180,000 cu m LNG carrier at Samsung Heavy Industries. The newbuild will deliver in 2027 and enter into a long-term charter with a Japanese major. Celsius said its LNG carrier design will minimise CO2 emissions…

  • Korean duo picks TMC Compressors for 32 ships set to work for ‘LNG shipping major’

    Korean duo picks TMC Compressors for 32 ships set to work for ‘LNG shipping major’ Norway-based TMC Compressors has been hired by South Korea’s Samsung Heavy Industries (SHI) to supply marine compressed air systems for a set of liquefied natural gas (LNG) carriers the latter is building for an undisclosed national energy company. The post…

  • Wallenius Wilhelmsen unit lands $4.2bn deal with Hyundai and Kia

    Wallenius Wilhelmsen unit lands $4.2bn deal with Hyundai and Kia Wallenius Wilhelmsen’s car carrier operator, Eukor, has secured a new and improved contract with Hyundai Motor Group. Wallenius Wilhelmsen said Friday that the term of the renewed deal has been increased from three to five years while the share of Korean exports will also be…

  • Korea Line offloads supramax quartet 

    SM Group’s Korea Line Corp has continued to offload tonnage, taking the number of ships exiting the fleet this year to ten. The Seoul-based diversified owner has been reported of selling a quartet of supramax bulkers en bloc, following a $53m deal to offload two capesizes to China’s Jiangsu Steamship. S&P sources suggest a deal…