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HD Korea Shipbuilding’s merger with STX Heavy gets antitrust approval

The Korea Fair Trade Commission has approved HD Korea Shipbuilding & Offshore Engineering’s acquisition of STX Heavy Industries, subject to conditions that prevent supply refusal and price increases for marine engine parts for three years to ensure fair competition. The merger of HD Korea Shipbuilding & Offshore Engineering, the leader in the marine engine and components market, with STX Heavy Industries, the third-largest player in the same sector, is set to significantly enhance HD Korea Shipbuilding’s competitive edge against its primary rivals, Hanwha Ocean and Hanwha Engine. The commission’s decision, ...

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Global demand, economic recovery drive China ship exports to surge 91%

In the first half of 2024, China’s ship exports saw a staggering increase of 91.1 percent, far exceeding the 22.2 percent export growth of automobiles. Data from the China Association of the National Shipbuilding Industry shows that in 2023, out of the world’s 18 main ship types, China ranked first globally in new orders for 14. Specifically, new orders for bulk carriers, tankers, container ships, and car carriers accounted for 79.6 percent, 72.1 percent, 47.8 percent, and 82.7 percent of the global total, respectively. Some shipbuilding companies disclosed that they ...

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GTT entrusted by Samsung Heavy Industries with the tank design of a new Floating Liquefied Natural Gas Unit (FLNG)

GTT announces that it has received, during the second quarter of 2024, an order from its partner the Korean shipyard Samsung Heavy Industries for the tank design of a new Floating Liquefied Natural Gas Unit (FLNG), on behalf of the ship-owner Cedar LNG. GTT will design the tanks of this FLNG, which will have a total capacity of 180,000 m3, and will incorporate the Mark III Flex membrane containment system developed by GTT. The delivery of this FLNG is scheduled for the first quarter of 2028. Source: GTT

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Damen Shipyards contracted to build second Damen Commissioning Service Operation Vessel for TSSM

Ta San Shang Marine Co. Ltd. (TSSM), the joint venture between Mitsui O.S.K. Lines, Ltd. of Japan, and Ta Tong Marine Co., Ltd. of Taiwan, has ordered a second Damen CSOV (Commissioning Service Operation Vessel) 9020. With a delivery date planned for end 2026, TSSM will deploy the new vessel in Taiwanese offshore wind farms. When the new vessel is delivered, TSSM will have a fleet of three Service Operation Vessels. The first, the TSS Pioneer, was delivered in 2022. The second, the TSS Cruiser, is a Damen CSOV which ...

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Yangzijiang Shipbuilding working to acquire over 866,671 sqm of land for new clean energy ship manufacturing base

Yangzijiang Shipbuilding is working to acquire land use rights of about 1300 Chinese mu – or 866,671 sqm – of land in Jiangsu Province, China, to establish a new clean energy ship manufacturing base. The group says it has entered into a framework agreement with the local government of Jingjiang City in Jiangsu. The plot of land along the Yangtze River is located adjacent to Yangzijiang’s existing Jiangsu Yangzi Xinfu Shipbuilding co. The group says that this proximity will allow them to seamlessly integrate new facilities, “thereby enhancing both productivity ...

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HD KSOE clinches $2.67 billion deal for 12 container carriers

HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company of HD Hyundai specialized in shipbuilding, announced on July 15 that it has recently signed a contract to build 12 container ships with a shipping company based in Europe. The total order amount is 3 trillion 683.2 billion KRW. The 12 vessels will be built by HD Hyundai Heavy Industries and HD Hyundai Samho, with each constructing 6 ships. They are scheduled to be delivered by June 2028. Including these orders, HD Korea Shipbuilding & Offshore Engineering has received orders ...

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South Korea’s shipbuilding rebounds, but smaller firms face uphill battle

South Korea’s shipbuilding industry is experiencing a “super cycle,” with its three major shipbuilders receiving a flood of orders. However, smaller and mid-sized shipbuilders are struggling to compete, particularly against Chinese rivals. Leading the industry are HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean, and Samsung Heavy Industries, which dominate with their production of ultra-large container ships and LNG carriers. Supporting them are firms like HJ Shipbuilding & Construction, Dae Sun Shipbuilding & Engineering, and K Shipbuilding, which focus on small to medium-sized container ships, bulk carriers, and tankers. This ...

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India plans ship building JV between state-run refiners and Shipping Corporation of India

the Union ministry of shipping has proposed a joint venture between state-run Shipping Corporation of India (SCI) and a public sector oil marketing company for manufacturing very large oil tankers, said three people aware of the development. Indian Oil Corporation Ltd (IOCL), the largest OMC and refiner in the country, is being considered as the preferred entity for forging the joint-venture with SCI. India currently has less than 1% share of global shipbuilding market India, which has never made an oil tanker, currently has less than 1% share of the ...

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Bangladeshi banking sector called to action on ship recycling

Bangladesh’s banking and finance sector is being invited to step up support for the country’s ship recycling industry – a move that could achieve economic and environmental goals. A summit organized by IMO’s Safe and Environmentally Sound Ship Recycling (SENSREC) Project in Chattogram (3-4 July 2024), spotlighted the role of banks and businesses in ensuring the environmental and social sustainability of the ship recycling industry. Ship recycling is environmentally sound and energy efficient. It involves re-using up to 96% of all materials and parts of a ship at the end ...

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First of series Damen CSD600 at work in Indonesia

The dredging operation is located at the Port of Batulicin on the island of Kalimantan. The main activities of the port relate to its important coal terminal. The busy access channel is used by numerous coal barge transports. Due to continuous sedimentation of this channel, the CSD600 is required to maintain the navigational depth. The newly designed high efficiency dredge pump removes this sediment and pumps it to a spoil field some 500 metres away. The powerful Cutter Suction Dredger was commissioned on site by Damen Field Service Engineers. During ...

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First inland vessel serviced at Strela Shiprepair Yard: Cargo area floor of the “Kaja Josephine” completely renewed

After a stay of around eight weeks at the shipyard, the “Kaja Josephine” left the Strela Shiprepair Yard on Thursday (11 July 2024), the first inland vessel to be docked and maintained there since the Stralsund repair yard was founded two years ago. The Futura Carrier, built in 2007, belongs to the fleet of the Schramm Group based in Brunsbüttel (Schleswig-Holstein). One of the special features of this type of ship are the four pod drives (rudder propellers) that can be rotated through 360°. They are mounted in pairs fore ...

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HD Hyundai Samho expands berthing facilities to speed up shipbuilding

South Korea’s shipbuilder HD Hyundai Samho Co. expanded berthing facilities to meet the growing eco-friendly ship orders by accelerating the manufacturing process. The subsidiary of the country’s No. 1 shipyard HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) completed the construction of a dolphin berth, a facility that allows ships to berth on both sides with sturdy pillars installed in the sea to a pathway. “With the completion of the second dolphin berth, HD Hyundai Samho will enhance its responsiveness in the eco-friendly ship market,” HD Hyundai Co. Chairman ...

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Nova Scotia Shipyard Af Theriault Secures Partnership With Ev Maritime To Deliver Electric Ferries To Halifax

AF Theriault & Son Ltd., one of Canada’s largest privately-owned commercial shipyards, announced today an exclusive partnership with New Zealand’s leading electric ferry design and technology company,EV Maritime. This partnership has been formed in relation to Halifax Regional Municipality’s (HRM) upcoming procurement of electric ferries serving the community of Bedford, Nova Scotia. Expected to be completed in the 2027-2028 fiscal year, the entire project is estimated at CAD$258.7M and will include ferries, terminals and infrastructure to support Halifax’s growing demand for sustainable transport. EV Maritime will supply cutting-edge, clean-tech design, ...

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Unlocking Brazil’s potential in ship recycling

We are excited to launch our Breaking Out News Series, in anticipation of the second edition of our Ship Recycling Lab in Lisbon this October. Highlighting innovators who believe in competitive, responsible practices, we challenge damaging methods of ship dismantling on tidal beaches and advocate for safer, cleaner and smarter alternatives. Our first post focuses on why Brazil is poised to become a significant player in the global ship recycling market. With its extensive coastline and robust maritime industry, many existing facilities, primarily engaged in shipbuilding and repair, have the ...

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HD Korea Shipbuilding launches translation service for foreign workers

HD Korea Shipbuilding & Offshore Engineering said Tuesday that it developed an artificial intelligence translation technology to support foreign workers. According to the company, the service named AI Agent was developed using generative AI technology and has been implemented at the HD Hyundai Samho shipyard in Yeongam, South Jeolla Province. Combined with the shipbuilder’s self-developed messaging app Team Up, the AI Agent translates the messages originally written in Korean to a language that a foreign worker has set. Currently, the service is provided in four languages — Vietnamese, Uzbek, Nepalese ...

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