Industry

  • Construction of bunkering ship for LNG-powered offshore vessels begins this week
    Construction of bunkering ship for LNG-powered offshore vessels begins this week SEOUL -- A state project to build South Korea's first bunkering ship for offshore vessels powered by natural gas will begin this week with domestic technology. Small and mid-sized shipbuilders would build 140 LNG-powered vessels by 2025 in a government aid package to recharge South Korea's ailing shipbuilding industry. The construction of LNG-powered ships is to meet new rules imposed by a U.N. maritime safety agency. There has been the development of technologies f May 6, 2020
  • Samsung shipyard wins $209 mln order for two VLCCs fueled by natural gas
    Samsung shipyard wins $209 mln order for two VLCCs fueled by natural gas SEOUL -- Samsung Heavy Industries, one of South Korea's three largest shipbuilders, has won an order worth 253.6 billion won ($209.1 million) from a client in the Bermuda region to build two very large crude carriers fueled by liquefied natural gas (LNG). The ships will be installed with S-Fugas, an LNG fuel supply system for eco-friendly ships. Samsung Heavy said in a regulatory filing on Tuesday that it would deliver two LNG-fueled VLCCs by April April 14, 2020
  • Hyundai shipyard applies autonomous sailing technology to bulk carrier
    Hyundai shipyard applies autonomous sailing technology to bulk carrier SEOUL -- South Korea's Hyundai shipbuilding group claimed to be "industry-first" in applying the core technology of autonomous sailing to a large ship already in service as the world's largest shipbuilder steps up the development of technologies to gain a firm edge in smart shipping. SK Shipping's 250,000-ton bulk carrier was installed with an advanced navigation support system called HiNAS, which was co-developed by Hyundai Heavy April 9, 2020
  • SKC Solmics approves investment to build semiconductor cleaning plant in China
    SKC Solmics approves investment to build semiconductor cleaning plant in China SEOUL -- SKC Solmics, a semiconductor material manufacturer in South Korea, will build a semiconductor cleaning plant in Wuxi, a city near Shanghai in eastern China. The plant will be set up within this year for commercial operation in 2021. SKC Solmics, a unit South Korea's SK Group, said on Wednesday that its board approved an investment of 30 billion won ($24 million) to set up a branch in Wuxi where SK hynix operates a microchip factory. Semiconductor cleaning is a April 1, 2020
  • SKC starts prototype production of key material for semiconductor chips
    SKC starts prototype production of key material for semiconductor chips SEOUL -- SKC, a leading polyester film and chemical material manufacturer in South Korea, has started the prototype production of high-end mask blanks, a key material in the production of semiconductor chips, to reduce its heavy dependence on Japanese products. For localization, SKC, a unit of SK Group, completed a high-end mask blank plant in the central city of Cheonan in December last year. Prototype production has now begun for customer certification to commercialize it March 26, 2020
  • Daewoo shipyard reports net loss and reduced debt in 2019
    Daewoo shipyard reports net loss and reduced debt in 2019 SEOUL -- Daewoo Shipbuilding & Marine Engineering posted a net loss in 2019 due to worsening profitability and the setting of provisions for future increases in fixed cost burdens caused by sluggish orders. The shipbuilder predicted a difficult situation this year due to economic uncertainties. Daewoo Shipbuilding & Marine Engineering (DSME) said that consolidated sales fall 13.3 percent on-year to 8.36 trillion won ($7 billio March 11, 2020
  • Hyundai shipyard and KCC develop solvent-free coating for very large ore carrier
    Hyundai shipyard and KCC develop solvent-free coating for very large ore carrier SEOUL -- Solvent-free coating developed by KCC, a top provider of construction materials and paints, through joint work with South Korea's Hyundai shipbuilding group, will be applied to a very large ore carrier (VLOC) equipped with eco-friendly facilities to reduce sulfur oxide (SOx) emissions. Harmful air pollutants emitted from shipyards come mostly from volatile organic compounds used in solvent-based paints. As an alternative, solvent-free paints have been recommen March 10, 2020
  • Hyundai shipyard wins share in Saudi Aramcos offshore development project
    Hyundai shipyard wins share in Saudi Aramco's offshore development project SEOUL -- Hyundai Heavy Industries, a top shipbuilder in South Korea, has earned a share in Saudi Aramco's project to build offshore oil and gas producing facilities. The two companies have strengthened business ties such as the establishment of shipbuilding and engine joint ventures in Saudi Arabia. Hyundai Heavy Industries (HHI) said that it became Aramco's LTS (long-term agreement) contractor under a memorandum of understanding signed at a for March 5, 2020
  • Samsung shipyard wins order to build three shuttle tankers
    Samsung shipyard wins order to build three shuttle tankers SEOUL -- Samsung Heavy Industries, a shipbuilder in South Korea, has secured an order worth 361 billion won (297 million) from an unspecified Asian client to build three Suezmax-class shuttle tankers equipped with an eco-friendly solution. A shuttle tanker is designed for oil transport from an off-shore oil field as an alternative to constructing oil pipelines. In a regulatory filing on Monday, the shipbuilder said the three shuttle tankers would be deli March 2, 2020
  • Daewoo shipyard partners with Japans MOL to develop smart solution for FSRU
    Daewoo shipyard partners with Japan's MOL to develop smart solution for FSRU SEOUL -- Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, partnered with Mitsui O.S.K. Lines (MOL), a Japanese transport company, to develop a smart solution for a floating storage regasification unit (FSRU), which offers a cheaper, quicker way to transfer natural gas. FSRU is a special type of tanker fitted with equipment to gently warm liquefied natural gas (LNG) back into a gaseous state so it can be piped to customers on land. FSRU vesse February 26, 2020