listed Al Seer Marine and Damen International have agreed to expand their joint venture, Dune, beyond the naval sector into the commercial shipbuilding market. Established in 2022, the joint venture initially focused on naval shipbuilding. Guy Neivens, CEO of Al Seer Marine, is a subsidiary of International Holding Company, said the company anticipates producing over 26 vessels, all constructed within the UAE, to serve both domestic and international clients in 2025. Dune will leverage the combined expertise and infrastructure of Al Seer Marine’s facility in Abu Dhabi and the existing ...

QatarEnergy inaugurated four new conventional-size LNG vessels built in the Samsung Heavy Industries Shipyard and the Hanwha Ocean Shipyard in the Republic of Korea as part of QatarEnergy’s historic fleet expansion program. The four new vessels, “Id’asah”, “Nuaijah”, “Umm Swayyah”, and “Lebrethah” are part of 128 total vessels ordered from Korean and Chinese shipyards as part of the largest shipbuilding program in the history of the LNG shipping industry. The naming of the vessels took place in two separate ceremonies in the city of Geoje, the first of which was ...

Korean shipbuilders are raising hopes to expand their presence in the US, following President-elect Donald Trump’s call for more bilateral cooperation in the shipbuilding sector. According to Seoul’s presidential office, President Yoon Suk Yeol and Trump had a 12-minute phone call Thursday morning after Trump won a second nonconsecutive presidential term. After exchanges of congratulations and gratitude, Trump specifically mentioned Korea’s shipbuilding capabilities and the US’ need to collaborate with Korean shipbuilders. Seoul’s presidential office quoted Trump as saying that the US president-elect is well aware of Korea’s world-class shipbuilding ...

Strategic Marine is delighted to announce the signing of a significant contract with Mainprize Offshore for the construction of six state-of-the-art Supa Swath vessels, with an option for an additional six vessels. This agreement follows the Memorandum of Understanding (MoU) signed at Seawork in June, Europe’s largest on-water commercial marine and workboat exhibition and the recent deliveries of MO10 & MO 11, the latest additions to the Mainprize fleet earlier this year, and marks a strategic strengthening of their fleet capabilities and service offerings. The Supa Swath vessels, renowned for ...

U.S. President-elect Donald Trump indicated his incoming administration’s intent to strengthen partnerships with Korean shipbuilders during a Thursday phone call with President Yoon Suk Yeol. Principal Deputy National Security Adviser Kim Tae-hyo told reporters that Trump mentioned the necessity of Korea’s support for the U.S. shipbuilding industry. “Trump told Yoon that he is aware of Korea’s world-class ability to build naval and commercial vessels, mentioning the need for a close cooperation with Korea in the maintenance, repair and overhaul (MRO) of ships, as well as in ship exports,” Kim said. ...

In a bustling shipyard of Haixi Bay, located in the Xihai’an (West Coast) New Area of Qingdao, east China’s Shandong province, workers were welding steel plates on the production line. “Our order books are full until 2028. With tight schedules and heavy workloads, we have to keep production going non-stop,” said Chen Zhihua, deputy director of the planning department at China State Shipbuilding Corporation Qingdao Beihai Shipbuilding Co., Ltd. (Beihai Shipbuilding). Although the company now sees so many orders, it once went through a painful transition period. For a long ...

QatarEnergy inaugurated four new conventional-size LNG vessels built in the Samsung Heavy Industries Shipyard and the Hanwha Ocean Shipyard in the Republic of Korea as part of QatarEnergy’s historic fleet expansion program. The four new vessels, “Id’asah”, “Nuaijah”, “Umm Swayyah”, and “Lebrethah” are part of 128 total vessels ordered from Korean and Chinese shipyards as part of the largest shipbuilding program in the history of the LNG shipping industry. The naming of the vessels took place in two separate ceremonies in the city of Geoje, the first of which was ...

HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company of HD Hyundai specialized in shipbuilding, announced on November 8 that it has recently signed a contract to build 4 LNG bunkering vessels with a shipping company based in Asia. – The total order amount is 514.8 billion KRW. – The four vessels will be built by HD Hyundai Mipo and scheduled to be delivered by October 2028. – Including these orders, HD Korea Shipbuilding & Offshore Engineering has received orders for a total of 175 ships (including 1 offshore ...

With order wins reaching US$11.64b year-to-date, Yangzijiang Shipbuilding has surpassed its FY 2024 goal of US$4.05b. In a bourse filing, the company reported that 86% of its new order wins were for eco-friendly vessels. Green vessels also account for 75% of the company’s total order book value. The total order book year-to-date stands at US$22.14b. Delivery-wise, the company has already achieved 90%, delivering 57 out of 63 vessels year-to-date. Source: Singapore Business Review

Yangzijiang Shipbuiilding has reported a record high total order book value of US$22.14 billion ($29.4 million) in 9MFY2023 ended Nov 7, according to its business update. According to the group, its “strong outstanding” order book brings revenue visibility up to mid-2028. The group also exceeded its FY2024 order win target by 259%, having secured an additional US$7.14 billion as at Nov 7. This came on the back of strong demand for dual-fuel containerships, oil tankers, and gas carriers, adds the group. Yangzijiang Shipbuilding believes it is on track to achieve ...

Korean shipbuilding stocks experienced a significant surge on Nov. 7 following remarks by U.S. President-elect Donald Trump. During a 12-minute phone call with President Yoon Suk Yeol at 7:59 a.m., Trump emphasized the need for Korea’s cooperation in the U.S. shipbuilding industry, leading to a notable market reaction. Hanwha Ocean’s stock closed at 33,850 won, marking a 21.76% increase from the previous day. During the trading session, the stock peaked at 33,950 won, up 22.12%. Similarly, HD Hyundai Heavy Industries saw its stock rise to 27,400 won, a 15.13% increase, ...

HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company of HD Hyundai specialized in shipbuilding, announced on November 7 that it has recently signed a contract to build 2 container ships with a shipping company based in Asia. – The total order amount is 317.6 billion KRW. – The four vessels will be built by HD Hyundai Samho and scheduled to be delivered by March 2027. – Including these orders, HD Korea Shipbuilding & Offshore Engineering has received orders for a total of 171 ships (including 1 offshore unit) ...

GTT announces that it has received an order from a Korean shipyard for the tank design of a new Floating Storage and Regasification Unit (FSRU1) on behalf of an Asian ship-owner. GTT will design the tanks of this FSRU, with a total capacity of 204,000m³. The tanks will be fitted with the NO96 GW containment system developed by GTT. The delivery of the vessels is scheduled for the fourth quarter of 2027. Source: GTT

On November 6th, 2024, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) announced that it obtained Approvals in Principle (AIP) from Lloyd’s Register (LR) and the Liberian International Ship & Corporate Registry (LISCR) for its ammonia cargo operation system and ammonia fuel supply system, which can be used in conjunction with LPG. The event was attended by key officials, including Sung-Joon Kim, CEO of HD KSOE, Young-Joon Nam, COO of SD Business Unit in HD KSOE, Young-Doo Kim, Vice President of Lloyd’s Register in Korea branch, and Jung Sik Kim, ...

The government is working on a plan to finance and develop shipbuilding infrastructure in the country on the lines of developed markets such South Korea and Japan to reduce reliance on foreign vessels and increase the country’s share in sea-borne trade. The Union shipping ministry is discussing a policy that will provide viability gap funding (VGF)—or financial support to make projects commercially feasible—for domestic shipbuilding, two officials aware of the plan said. It also plans to introduce purchase preference so that any vessel seeking new registration for coastal cargo transport ...