PanStar Group's container ship is set to depart Busan on Saturday afternoon for South Korea's first trial container voyage through the Northern Sea Route, marking a key step in Seoul's push to establish a new shipping corridor between Asia and Europe. The 2,758-TEU PanStar Acro, operated by Busan-based PanStar Line Dot Com, will leave Busan New Port and head toward Europe through Arctic waters north of Russia. The vessel was purchased from HMM, w

Washington's push to rebuild strategic industries at home while reducing dependence on China is creating new openings for South Korean companies in two seemingly different sectors: shipbuilding and drones. The latest U.S. moves point to a broader strategy of tapping production capacity from trusted allies where American industry cannot immediately meet demand, while using tariffs, investment and procurement rules to steer strategic supply chains away fro

With global ship orders falling by more than half in July from the previous month, China accounted for more than 80 percent of the orders, while South Korea accounted for just 16 percent. According to data released by London-based Clarkson Research Services on Wednesday, global ship orders last month totaled 3.57 million compensated gross tons (CGT) or 137 vessels, down 56 percent from 8.03 million CGT a month earlier and 22 percent from 4.55 million CGT a

Hanwha Group is seeking to acquire the U.S. operations of Australian shipbuilder and defense contractor Austal, stepping up efforts to expand its shipbuilding and defense presence in the United States. Hanwha has proposed acquiring 100 percent of the businesses and operating assets of Austal USA at an enterprise value of between $1.05 billion and $1.2 billion on a cash-free, debt-free basis. The move comes after Hanwha built a 19.9 percent stake in Austal

A Chinese shipping company is launching what is described as the first regular container service linking Asia and Europe via the Arctic, as melting sea ice and geopolitical risks along traditional shipping routes draw growing attention to the Northern Sea Route. Chinese carrier Sea Legend will begin operating a scheduled container service this week between Ningbo in eastern China and Felixstowe in the United Kingdom, the Financial Times reported Monday. T

HMM said Friday it is continuing negotiations over a long-term bulk shipping contract and is currently discussing remaining details with the counterparty. In a regulatory filing responding to recent media reports, the South Korean shipping company said it has been in talks to finalize the contract but that no specific terms have yet been confirmed. HMM said it will make another disclosure once concrete details are finalized or within three months. The nex

Russia's growing shadow fleet has exposed the environmental and regulatory risks lurking behind the rapidly opening Arctic shipping route, creating an unexpected opportunity for South Korea to market itself as a cleaner and more transparent alternative as it prepares its first container voyage through polar waters. Despite the war in Ukraine and sweeping Western sanctions, at least 100 ships legally transited Russia's Northern Sea Route last year&mda

A midsized carrier from Busan is venturing through Russian Arctic waters in what would be South Korea's maiden container voyage along the Northern Sea Route after bigger shipping lines bowed out over sanctions risks and resistance from environmentally conscious global cargo owners. PanStar Group is keeping to its target of departing Busan for Rotterdam around Aug. 22, a source at the shipping and logistics group told AJP. "There has been no chang

The White House has asked Congress to authorize the U.S. Navy to order two surface combatants and two noncombat auxiliary ships from overseas shipyards, a proposal that could create opportunities for major shipbuilders in South Korea and Japan. The request was included in the administration’s July 21 policy statement on the House version of the fiscal 2027 National Defense Authorization Act. The White House Office of Management and Budget objected t