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Hyundai shipyard unveils business road map to establish hydrogen value chain
SEOUL -- South Korea's Hyundai shipbuilding group unveiled a new business roadmap to focus on eco-friendly ships and green energy. By 2030, the group aims to establish a hydrogen value chain that combines the infrastructure and technology competitiveness of affiliates to produce, transport, store and utilize hydrogen on land and sea. The roadmap came on the heels of efforts by major South Korean groups such as POSCO and SK Group to forge strategic alliances for the earl
March 25, 2021
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Hyundai shipyard ties up with sovereign wealth fund to acquire companies with high growth potential
SEOUL -- South Korea's Hyundai shipbuilding group will actively push for the diversification of its business portfolio into artificial intelligence, robots and other new industries with the help of a domestic sovereign wealth fund to take over global companies with high growth potential. Hyundai Heavy Industries Holdings signed a memorandum of understanding with Korea Investment Corporation (KIC). "We hope this MOU will be the first step toward
March 24, 2021
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Hyundai shipyard works on vessel capable of transporting liquefied CO2
SEOUL -- South Korea's Hyundai shipbuilding group will develop a vessel that can transport liquefied carbon dioxide from power plants and steel mills to storage facilities. The shipyard saw climate change as a new opportunity for its growth, citing a growing demand for negative emission technology to reduce greenhouse gases by capturing carbon. Hyundai Mipo Dockyard, a subsidiary of the shipbuilding group, said it would develop a cargo container system
March 22, 2021
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Daewoo shipyard's rotor sail technology wins certification from classification society
SEOUL -- A rotor sail system developed by Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, has won certification from DNV, an international accredited registrar and classification society based in Norway. As the first domestic company to produce a rotor sail system, the shipbuilder vowed to gain an upper hand in global shipbuilding orders. When wind meets the spinning rotor sail, the airflow accelerat
March 22, 2021
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Hyundai shipyard sets up quantum cryptography communication to protect defense technology
SEOUL -- Hyundai Heavy Industries has set up a pilot quantum cryptography network in the communication infrastructure of the world's largest shipyard in the southeastern port city of Ulsan to strengthen the security of its defense technology. The shipyard is a key defense contractor involved in the construction of destroyers and other warships. Hyundai Heavy Industries (HHI) has formed a consortium with KT, a major telecom company in South Korea, an
March 17, 2021
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Daewoo shipyard wins $966 mln orders for ten VLCCs installed with dual-fuel propulsion engines.
SEOUL -- Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, has secured orders worth 1.09 trillion won ($966 million) from three unidentified clients in North American, Europe and Asia to build ten 300,000-ton crude carriers installed with dual-fuel propulsion engines. Ships will be delivered sequentially by the end of September 2023. Daewoo Shipbuilding & Marine Engineering (DSME) said in a regulato
March 12, 2021
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Samsung shipyard wins new order for five LNG-powered container ships
SEOUL -- Samsung Heavy Industries solidified its status as the world's top builder of eco-friendly vessels powered by liquefied natural gas by securing a new order from an unidentified Asian client to construct five more ships. With the new deal, the shipbuilder has won $2.4 in orders for 19 vessels or 31 percent of this year's target of $7.8 billion. Samsung Heavy Industries (SHI) said in a regulatory filing on March 9 that it has won a deal w
March 9, 2021
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Samsung shipyard wins $707 mln order to build five LNG-powered container ships
SEOUL -- Samsung Heavy Industries, a major shipbuilder in South Korea, has secured an order worth 781.2 billion won ($707 million) from an unidentified Asian client to build five container ships powered by liquefied natural gas and equipped with eco-friendly and energy-saving solutions. The ships will be delivered sequentially by July 2023. Samsung Heavy Industries (SHI) said in a regulatory filing on February 15 that the 15,000-TEU ships would be insta
February 15, 2021
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Samsung shipyard to test remote autonomous system with 9,200-ton ship
SEOUL -- A 9,200-ton ship installed with a remote autonomous system developed by Samsung Heavy Industries will make its test run probably in August on a coastal sea route. If the test is successful, it would be the world's first case to apply remote autonomous operation technology to a large vessel. Samsung Heavy Industries (SHI) has tried to commercialize its remote autonomous system called Samsung Autonomous Ship (SAS). The shipbuilder will mobili
February 10, 2021
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Samsung shipyard wins $206 mln order from Oceanian client
SEOUL -- Samsung Heavy Industries, a major shipbuilder in South Korea, has secured an order worth 230 billion won ($206 million) from an Oceanian client to build two large container ships equipped with eco-friendly and energy-saving solutions. Samsung Heavy Industries (SHI) said in a regulatory filing on February 4 that the two 13,000 TEU ships would be delivered sequentially in the first quarter of 2023. The twenty-foot equivalent unit (TEU) is an inexact unit of cargo c
February 4, 2021
