Climeon has achieved an important milestone in its ongoing project with HD Hyundai Heavy Industries (HD-HHI) with the delivery of all six HeatPower 300 units completed according to plan for integration on board six A.P. Moller – Maersk 17,200 TEU capacity dual-fuel, green methanol container ships. The vessels, currently under construction at HD-HHI’s shipyard in South Korea, will utilize Climeon’s HeatPower 300 systems to enhance energy efficiency on board the eco-friendly vessels. “We are pleased to share that all six HeatPower 300 units have now been delivered to HD Hyundai ...

South Korea’s share of the global shipbuilding market is expected to dip below 20% this year, hitting its lowest level since 2016. The country’s order volume is currently just one-fourth of that of its main competitor, China. While South Korean shipbuilders maintain their lead in high-value sectors like liquefied natural gas (LNG) carriers through selective bidding, their overall market presence has been shrinking as China extends its dominance from containerships and bulk carriers to the LNG market. In 2018, South Korea led the global shipbuilding industry with a market share ...

This year, Korea’s order ratio in the global shipbuilding market is expected to record the lowest level in eight years since 2016. The year 2016 was a time when shipbuilders worldwide went through a downturn, struggling with order shortages and restructuring. The order volume is also expected to reach only a quarter of that of its competitor, China. According to Clarkson Research, a British shipbuilding and shipping market analysis firm, a total of 60.33 million CGT (compensated gross tonnage – equivalent to 2,159 vessels) of new ships were ordered in ...

Dutch shipbuilder GS Projects has contracted DMC by to supply the steering, control and propulsion equipment for four dry cargo vessels. DMC will provide its ‘plug & play’ Piston RAM-type steering systems, Barke rudders and Optima nozzles to the series of four identical vessels. These ships are being constructed at the GS Projects shipyard in Waterhuizen, the Netherlands – a project in cooperation with Groot Ship Design and Ship and Steelbuilding (SaS), who build this series for their shortsea shipping client Longship. The selection of this trio of DMC products ...

The domestic stock market experienced a correction due to the Dec. 3 martial law incident. The shipbuilding industry was no exception. However, iM Securities noted on the 11th that considering the high exchange rate and the ordering of liquefied natural gas (LNG) carriers, the shipbuilding industry is expected to perform well in 2025. Byun Yong-jin, a Research Institute at iM Securities, said that concerns about some industries, such as defense, are somewhat rational. This is because there is no reason for buyers to hastily proceed with investment decisions that involve ...

Our LGE business has been awarded a contract to deliver six cargo handling and fuel gas supply systems for Ultra Large Ethane Carriers in China. The new supersized ships have 50% more capacity than existing Very Large Ethane Carriers (VLEC), and at 150,000m3, are a world first of this size. The ships, being built at the Jiangnan Shipyard in China, will be fitted with cascade reliquefication plants to manage the Boil Off Gas (BOG), with the contract signalling a continued wave of demand for our globally sought technology in a ...

Following the publication of a report on the Turkish ship recycling sector in Aliağa, the NGO Shipbreaking Platform and the European Union Network for the Implementation and Enforcement of Environmental Law (IMPEL) organised a workshop in Ankara, Turkey, on 10 December aimed at sharing knowledge and enhancing collaboration on ship recycling. The workshop brought together representatives from the European Commission, IMPEL, DNVGL, industry and civil society representatives, as well as Turkish Ministries responsible for the ship recycling sector, including the Ministry of Environment, Urbanisation and Climate Change; the Ministry of ...

In a ceremony in Rauma, Finland, Damen Shipyards Group and Kongsberg Maritime have celebrated the delivery of the 1500th Kongsberg azimuth thruster to Damen, in a relationship spanning more than 40 years. This latest delivery continues the supply of azimuth thrusters for Damen’s wide range of tug designs, operating for its customers in ports across the world. Thruster number 1500 is one of a pair which will be installed on a Damen ASD Tug 2813, currently under construction at Damen Song Cam Shipyard in Vietnam. Speaking at the event, Ville ...

Dr. Anil Sharma, Founder and CEO of Global Marketing Systems (GMS), has been named in Lloyd’s List Top 100 Most Influential People in the Shipping Industry for the 15th consecutive year. This extraordinary recognition celebrates Dr. Sharma’s persistent influence, innovative contributions, and leadership in driving sustainable transformation across the global maritime and ship recycling sectors. Dr. Sharma’s achievement places him among an elite group of only seven individuals worldwide who have appeared in every edition of the prestigious list. This milestone highlights Dr. Sharma’s dedication to promoting sustainable ship recycling ...

Denmark sees “huge potential” in investing in the Philippine shipbuilding industry, the European country’s ambassador said on Monday, noting that the move can easily create 2,000 new jobs here. Denmark is expected to “explore that in the spring of next year,” Danish Ambassador to the Philippines Franz-Michael Mellbin said in a chance interview. “We are looking at shipbuilding as one of the huge potential [in investments here],” he said. “I think this could be a breakthrough moment for the Philippines,” he said. You only have 2,000 people employed in the ...

GTT announces that it has received, in the fourth quarter of 2024, an order from its partner the Korean shipyard Hanwha Ocean for the tank design of two new LNG carriers on behalf of the Greek ship-owner, Maran Gas Maritime. GTT will design the tanks of these two vessels, which will each feature a total capacity of 174,000 m³ and will be fitted with GTT’s NO96 family containment system. Deliveries of the vessels are scheduled for the third and fourth quarters of 2027. Source: GTT

South Korean shipbuilders, with secured orderbooks covering the next three to four years, are positioned to leverage structural advantages stemming from a robust U.S. dollar and stable steel plate prices. The shipbuilding sector, which prices vessels in U.S. dollars, is widely recognized as a prime beneficiary of high exchange rates. Meanwhile, prices for heavy plates—steel plates exceeding 6 millimeters in thickness, which account for roughly 20% of a ship’s construction cost—remain low, driven by declining iron ore prices and increased imports of cheaper Chinese products. On Dec. 6, the foreign ...

The retirement of aging steam turbine liquefied natural gas (LNG) carriers is accelerating as LNG freight rates continue to decline. This year alone, 12 steam turbine LNG carriers have been scrapped and sold for dismantling after failing to secure new charter agreements. Industry experts anticipate that dozens more of these vessels may enter the market by early next year. As the transition to next-generation LNG carriers gathers pace, South Korean shipbuilders, renowned for their expertise in LNG carrier construction, are poised to reinforce their global leadership. According to industry sources, ...

A China’s self-developed large liquefied natural gas (LNG) container vessel was named and delivered to QatarEnergy in Changxing Island, Shanghai on Friday, according to the shipbuilder, Hudong-Zhonghua Shipbuilding (Group) Co Ltd. With a payload capacity of 174,000cubicmeters,the vessel HLAITAN marks the third vessel of its kind, as well as the seventh LNG vessel delivered by the shipbuilding company this year, setting a new annual delivery record. The carrier measures 299 meters in length, 46.4 meters in width, and 26.25 meters in depth. Certified by both the American Bureau of Shipping ...

South Korean shipbuilders are establishing a second production base in Southeast Asia to overcome domestic capacity limitations. With domestic shipyards operating at full capacity due to the increase in global new ship demand, they are seeking to secure additional production capacity in Southeast Asia, where business costs are relatively lower. HD Hyundai Mipo plans to expand the annual construction capacity of its Vietnamese shipyard from the current 15 ships to 23 ships by 2030, an increase of nearly 50%. The company has recently completed an official request to the Vietnamese ...