AJU PRESS - ASIA NEWS HUB

Industry

S. Korea launches task force for early commercialization of home-made gas turbine SEOUL -- To cope with a global shift to eco-friendly energy, South Korea launched a task force of private companies, state bodies and research institutes to push for the early commercialization and localization of gas turbines for power generation, based on a prototype developed by Doosan Heavy Industries & Construction. The task force was formed on Thursday at a meeting hosted by the Ministry of Trade, Industry and Energy. Team members include Doosan February 13, 2020
Daewoo shipyard wins order to build two shuttle tankers for Norway's Knutsen SEOUL -- Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, has clinched an order worth 337.1 billion won ($283.6 million) to build two eco-friendly shuttle tankers for Norway's Knutsen shipping group. It was the shipbuilder's first order this year Daewoo Shipbuilding & Marine Engineering (DSME) said Friday in a regulatory filing that two 124,000 deadweight ton (DWT) shuttle tankers installed with liquefied natural gas propulsion e February 7, 2020
SK Chemicals sells bioenergy business to private equity fund SEOUL -- SK Chemicals sold its bioenergy business division to Hahn & Co., a private equity investment firm in South Korea, in a deal worth about 380 billion won ($320 million) to secure funds for new projects and focus on eco-friendly materials and life science. SK Chemicals said Wednesday in a regulatory filing that the decision to sell its business division which produces bio-diesel and bio-heavy oil was made to focus "our capabilities on core projects an February 5, 2020
SK Energy ready to produce low-sulfur fuel oil for ships in late March SEOUL -- SK Energy, a major energy company in South Korea, is ready to produce low-sulfur fuel oil for ships as the construction of its desulfurization plant has been completed. The company said commercial production is possible in late March after a two-month test operation. With an investment of more than 1 trillion won ($840 million), SK Energy completed the construction of vacuum residue desulfurization (VRDS) facilities in late January in the southeastern industrial ci February 3, 2020
Samsung Heavy delivers Teekay's LNG double fuel propulsion shuttle tanker SEOUL -- Aurora Spirit, the world's first double fuel propulsion shuttle tanker using natural gas was delivered by Samsung Heavy Industries, a major builder in South Korea, to Teekay Offshore, a Bermuda-based shipping company. The 130,000 deadweight ton (DWT) shuttle tanker operates on both liquefied natural gas (LNG) as the primary fuel, and a mixture of LNG and recovered volatile organic compounds (VOCs) as secondary fuel. DWT is the weight of all January 21, 2020
[FOCUS] Nuclear plant operators allowed to build new storage facilities for spent fuel A file picture shows a nuclear power plant in Wolseong. SEOUL -- The construction of additional facilities to store spent fuel from the operation of nuclear power plants won approval from South Korea's nuclear safety agency, nearly four years after operators applied for permission, amid a never-ending debate over the reprocessing of nuclear waste. The belated greenlight came on Friday in a split decision by the Nuclear Safety and Securi January 10, 2020
KOGAS leads consortium to push for energy infrastructure project in Vietnam SEOUL -- Korea Gas Corp., a state energy company in South Korea, agreed with two domestic companies to push for an energy infrastructure project to build gas power stations and LNG terminals in Vietnam, which has stepped up the construction of power plants to ease its perennial energy shortfall. Korea Gas Corp. (KOGAS) said Thursday that it agreed to form a consortium with Korea Southern Power, a power generation company, and Hanwha Energy. KOGAS will take charg December 19, 2019
Aramco pays $1.17 bln for acquisition of stake in Hyundai Oilbank SEOUL -- South Korea's Hyundai shipbuilding group secured 1.37 trillion won ($1.17 billion) from its Saudi partner, Aramco, to improve its financial structure and invest in new businesses such as smart ships and logistics. Aramco's money was related to the acquisition of shares in the group's refinery arm, Hyundai Oilbank. In a regulatory filing on Tuesday, Hyundai Heavy Industries Holdings said it has received Aramco's money as part of a deal on December 17, 2019
Daewoo shipyard wins $162 mln order from Avance Gas to build two LPG carriers SEOUL -- Daewoo Shipbuilding & Marine Engineering has won an order worth 190 billion won ($162 million) from Avance Gas headquartered in Bermuda to build two very large liquefied petroleum gas (LPG) carriers with an eco-friendly dual-fuel propulsion system. Daewoo Shipbuilding & Marine Engineering (DSME) said it would deliver the two VLGCs by the first half of 2022. DSME's total orders so far this year reached $6.11 billion. With rising fuel prices and increasi December 17, 2019
Samsung shipyard wins $1.5 bln order from Eurasian client to build LNG carrier SEOUL -- Samsung Heavy Industries, one of South Korea's three major shipbuilders, has won a $1.5 billion order from an unidentified Eurasian client to build a liquefied natural gas (LNG) carrier. The order helped the shipbuilder achieve 88 percent of this year's target set at $7.8 billion. The conditional contract is due in September 2022, Samsung Heavy said Monday, adding details would not be disclosed under an agreement with the client. "T November 25, 2019