In December 2023, Nippon Yusen Kabushiki Kaisha (NYK), Japan Engine Corporation, IHI Power Systems Co., and Nihon Shipyard Co., Ltd. signed a series of contracts to construct the world’s first ammonia-fueled medium gas carrier (AFMGC) equipped with Japan-made engines. The completion of the vessel will be a significant step toward the realization of decarbonization in the maritime sector. In October 2021, the four companies were selected by Japan’s New Energy and Industrial Technology Development Organization (NEDO) for its Green Innovation Fund Project,* and together with Nippon Kaiji Kyokai (ClassNK), a ...

On 16 November, Van Wijngaarden Marine Services (VWMS) held a naming ceremony for the latest vessel in its fleet, a Damen Multi Cat (MuC) 3713 named Waddenstroom. The 37-metre, DP2 vessel, delivered by Damen Shipyards Hardinxveld, is the largest MuC in the Damen range. The vessel features a series of innovations to ensure its suitability to support the offshore renewable energy sector. The naming ceremony for the vessel took place at VWMS’ premises in Hardinxveld-Giessendam, the Netherlands. Serving as Lady Sponsor was Mrs Cory van Wijngaarden-Dekker, who undertook the naming ...

GTT, the technological expert in membrane containment systems dedicated to the transport and storage of liquefied gases, announces the signing of two new Technical Services Agreements (TSA) with JOVO, a major energy supplier based in China. The contracts cover GTT’s assistance and operational support for LNG carriers operated by JOVO. GTT will provide its field expertise for inspections, maintenance, repairs and engineering consultancy. JOVO will also benefit from access to GTT’s HEARS® emergency hotline, available 24/7, to provide rapid technical assistance to crews. These new partnerships follow a first services ...

The world’s shipbuilding industry saw methane-fuelled ships go mainstream in 2023 after a slew of international environmental protections made the fuel, which produces fewer carbon emissions, more attractive compared to liquefied natural gas (LNG). Methanol proved the most used alternative fuel that year with 138 ships ordered, a sharp increase compared to the 35 ordered to run on this fuel in 2022. The latest statistics from DNV’s Alternative Fuels Insight (AFI) platform found that methanol-powered ships accounted for 138 of the 298 ships with alternative fuel propulsion ordered in 2023, ...

Offshore fixed-cost burden is weighing on 2024 earnings momentum, but the long-term profit outlook remains favorable. LPG and ammonia carrier orders are likely to exceed targets. Rising vessel prices and sound order intake are resulting in a qualitative improvement in order backlog. Pace of earnings improvement disappointing, but order intake better than expected We maintain a Buy rating and TP of W150,000 on HHI. We cut our 2024 OP projection by 25%, but the firm’s mid/long-term profit improvement trajectory should remain largely unchanged. We lower our 2024 OP forecast to ...

Fierce competition between HD Hyundai Heavy Industries (HHI) and Hanwha Ocean in the naval shipbuilding sector has found its way to the lawmakers of the ruling People Power Party (PPP), who have tried to support the shipbuilders, which are located in each of their respective constituencies, according to industry officials, Tuesday. Rep. Lee Che-ik, who represents the constituents of Ulsan, home to HD HHI’s shipyard, urged the Defense Acquisition Program Administration (DAPA), Monday, to penalize Hanwha Ocean, if it turns out that its former employees leaked a submarine design to ...

In a landmark agreement signed in December 2022, Nippon Yusen Kaisha (NYK-Line) partnered with Damen Services to introduce an advanced full mission bridge simulator tailored for offshore wind operations. The simulator, built in cooperation with maritime simulation leader VSTEP Simulation, achieved a critical milestone with the successful completion of Factory Acceptance Testing (FAT) in October. To be officially inaugurated on the 1st of April, the simulator, housed at a newly established training centre in Akita, Japan, is set to become a focal point for specialised training in offshore wind installations. ...

HD Korea Shipbuilding & Offshore Engineering (KSOE) and Samsung Heavy Industries announced on Jan. 18 that they have won two orders for very large ammonia carriers (VLACs) side by side. As demand for ammonia, an eco-friendly energy, is rising, more shipping companies are preparing to transport it by sea. Many experts predict that orders for eco-friendly ships such as ammonia and methanol carriers will expand beginning from this year in earnest. On the same day, HD KSOE recently signed a contract with an Oceania-based shipping company for the construction of ...

Dong Kwan (DK) Kim, Vice Chairman of Hanwha Group, unveiled a new vision for the decarbonization of shipping and introduced Hanwha’s plans to build a zero-emission gas carrier. Powered entirely by alternative fuels, the new vessel will be an industry first — developed using Hanwha’s proprietary green technology. Speaking at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland, Kim emphasized the importance of global collaboration to bring such green technologies to fruition and grow market demand. Hanwha has a strong footprint in clean energy, with a value chain ...

GTT announces that it has received an order from its partner, the Korean shipyard HD Hyundai Heavy Industries, for the tank design of three new Very Large Ethane Carriers (VLECs) on behalf of an Asian ship-owner. GTT will design the tanks for these three vessels, which will each offer a total capacity of 98,000m3. The tanks will be fitted with the Mark III membrane containment system developed by GTT. This new order brings to 25 the number of VLECs (ordered, under construction or in operation) adopting GTT’s Mark III technology. ...

HD Hyundai Heavy Industries, the world’s largest shipyard, has announced a joint development project (JDP) with NAPA and CADMATIC, two leading providers of smart 3D maritime design, engineering and information management software, to accelerate the digital transformation of the shipbuilding industry. The joint project will develop a next-generation ship design and information management solution, which will also embed a product lifecycle management (PLM) system. The partnership will harness advanced 3D models and the latest developments in information management technology to create intelligent solutions to support the entire ship building process. ...

The company will deliver the vessels from 2027 onwards. Yangzijiang Shipbuilding clinched a contract to build six units of 13,000TEU methanol dual-fuel containerships for Ocean Network Express. The company will begin delivery of the vessels in 2027. Yangzijiang will jointly design the vessels with optimised hull forms, waste heat recovery systems, and bow windshields. Source: Yangzijiang Shipbuilding

In a competitive tender process that attracted many international bidders, Damen Shipyards has won the contract to build and supply four, fully electric, passenger car ferries for BC Ferries. These will be used for short-range services in the coastal waters of the Canadian province of British Columbia (BC). This order will take the total number of ferries that Damen has supplied to BC Ferries in recent years to ten. However, these latest additions will be the first to operate using 100% electrical power. The vessels will be based on Damen’s ...

Kerala’s port city Kochi is set to become one of the most important hubs of ship repair and shipbuilding as Prime Minister Narendra Modi is scheduled to inaugurate projects worth Rs 4000 crore on Wednesday, Union Minister Sarbananda Sonowal said here on Tuesday The Union Minister for Ports, Shipping, and Waterways Sonowal reviewed preparation of the key strategic projects at Cochin Shipyard Limited (CSL) in Kochi yeterday. “Cochin is going to become one of the most important hubs of ship repair and shipbuilding. This modern facility will definitely make India ...

China’s offshore engineering equipment industry is expected to grow substantially this year on the back of a fast-growing marine economy, cost competitiveness and technological advancements, said market watchers and industry sources. They said the marine engineering equipment industry has seen solid breakthroughs in recent years as it transitions from a period when focus was on marine oil and gas to a new phase where emerging marine power generation is considered critical. Marine engineering vessels will continue to serve as a primary driving force in the marine equipment market this year, ...