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Veer Moves to Select Shipyard

Veer is one step closer to deploying the first clean container ship to cross an ocean. Veer’s breakthrough first ship design, ‘’Design Nº1’’, will be the first absolutezero-emission (as defined by the International Maritime Organization) container ship capable of crossing an ocean. ‘’Design Nº1’’ has been selected by the European Maritime Safety Agency (EMSA) as an exemplary vessel used in two industry studies, one on wind propulsion and one on hydrogen propulsion. Veer has secured €50M Letter of Intent L.O.I. to finance the design and construction of these revolutionary ships, ...

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HD KSOE and Hyundai Power Systems to Develop Onboard Carbon Capture System

Hyundai Heavy Industries Power Systems (HPS), together with HD Korea Shipbuilding & Offshore Engineering (KSOE) and CE-TEK has signed a joint development program agreement for the research and development of Onboard CCS demonstration units. The Onboard CCS demonstration unit is scheduled to undergo commissioning and performance testing in the first half of 2025. Installation will take place at the Hyundai Heavy Industries Carbon Neutrality Demonstration Center site in Ulsan. CE-TEK is tasked with developing the most optimal solvent for Onboard CCS, utilizing its proven solvent technology, which has demonstrated outstanding ...

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HD Hyundai Holds Marine Platform Technology Meeting with Siemens

HD Hyundai Shipbuilding & Offshore Engineering, HD Hyundai Heavy Industries (HHI), Hyundai Mipo Shipbuilding, and Hyundai Samho Heavy Industries announced on Feb. 28 that they recently held a Marine Platform Technology Council meeting with Siemens Digital Industries Software at Hyundai Mipo Shipyard in Ulsan, Korea. The Marine Platform Technology Council aims to review the current status of an integrated design and production platform currently under construction by key executives from HD Hyundai and Siemens. The meeting was attended by more than 30 executives from each company who reviewed the status ...

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Yangzijiang Shipbuilding reports record earnings despite delivering fewer vessels

Yangzijiang Shipbuilding has reported earnings of RMB4.1 billion for FY2023, up 57% over the preceding FY2022. Despite delivering fewer vessels, revenue in the same period was up 16.5% to RMB24.1 billion, as the company was contracted by customers to build larger and bigger ticket ships. In FY2023, the company delivered 56 vessels, versus 67 completed in the preceding year. For the year ended Dec 2023, the company achieved a higher net profit margin of 17%, up from 12.6% in FY2022. The company plans to pay a final dividend of 6.5 ...

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Korean shipbuilders secure big orders for LNG carriers

South Korea’s three major shipbuilders are winning large orders for liquefied natural gas (LNG) carriers in early 2024, indicating their strategies of selectively receiving orders for high value-added ships from their huge backlog of orders are bearing fruit. HD Korea Shipbuilding & Offshore Engineering Co., the mid-tier holding company for HD Hyundai Co.’s shipbuilding and maritime business, announced on Monday that it recently signed a contract with an Oceania-based carrier to build four LNG carriers with a capacity of 174,000 cubic meters each. The contract is worth a total of ...

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GTT: FY 2023 Results: Revenue and EBITDA in the upper half of the guidance range

GTT, the technological expert in membrane containment systems used to transport and store liquefied gases, today announces its results for the 2023 financial year. Commenting on the results, Philippe Berterottière, Chairman and CEO of GTT, said: “With a total of 73 LNG carrier orders, two ethane carrier orders, and one FLNG unit order in the financial year 2023, the commercial performance of our core business remains buoyant. Demand for LNG remains particularly high and sustainable, as borne out by the number of final investment decisions for new liquefaction plants – ...

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Damen unveils new Multi-Purpose Support Ship (MPSS) to meet today’s defence & security challenges

Damen Shipyards Group has unveiled a new ship design based on modern defence and security requirements. The Multi-Purpose Support Ship (MPSS) has been co-developed with the Portuguese Navy, the vessel’s launching customer. It is a solution for the increasing use of drone technology in combat and surveillance. In addition to its primary function, the MPSS is designed to fulfil a wide range of additional tasks, including auxiliary roles. Damen has begun construction of the first vessel of this new design. The MPSS range, featuring 7000 and 9000 tons versions, combines ...

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GTT recieves an order from Samsung heavy industries for the tank design of 15 news LNG carriers

GTT announces that it has received in early 2024 an order from its partner the Korean shipyard Samsung Heavy Industries for the tank design of 15 new Liquefied Natural Gas Carriers (LNGCs) on behalf of a leading LNG player. GTT will design the tanks of these 15 vessels, which will each offer a capacity of 174,000 m3. The tanks will be fitted with the Mark III Flex membrane containment system developed by GTT. The delivery of the vessels is scheduled between the fourth quarter of 2026 and the fourth quarter ...

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DESMI Sets a New Standard in Aquaculture with DNV-Validated UV Treatment Systems

In a pioneering achievement, DESMI has secured third-party validation for the effectiveness of its aquaculture UV treatment systems from DNV, a global leader in quality assurance and risk management. This marks a significant advancement in the aquaculture industry, ensuring greater transparency and trust in UV treatment technologies. On February 16th, 2024, DESMI achieved a milestone by receiving DNV validation for the UV doses applied by its UV treatment systems, specifically designed for aquaculture applications. This development is particularly notable as it moves beyond the traditional certification provided by the Norwegian ...

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Mitsubishi Shipbuilding Completes Basic Design of Ammonia Fuel Supply System for Marine Engines under Development by WinGD

Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has finalized the basic design for an ammonia fuel supply system for the X-DF-A engine, an ammonia-fueled large, low-speed two-stroke marine engine currently under development by WinGD, a Swiss designer and licensor of large marine engines. Mitsubishi Shipbuilding will continue to conduct technical studies with WinGD aimed at commercialization of the system. Mitsubishi Shipbuilding and WinGD concluded a Memorandum of Understanding (MOU) in June 2023 to undertake technical studies on an ammonia fuel supply system (Note), with the ...

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HD Hyundai Marine bags order to upgrade Chevron LNG tankers

HD Hyundai Marine Solution Co., a ship maintenance, retrofitting and digital solution provider under HD Hyundai Co., has won an order from Chevron Corp. to install emission-reducing systems on the latter’s liquefied natural gas (LNG) carriers, the South Korean company announced on Thursday. Under the term, HD Hyundai Marine will add re-liquefaction systems, hull air lubrication and new gas compressors to Chevron’s two LNG tankers, according to the statement. With the latest deal, the Korean marine service company has bagged $100 million worth of re-liquefaction system orders in total since ...

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India: Ministry of Ports, Shipping, and Waterways Hosts Successful Workshop on Ship Building and Ship Repair

The Ministry of Ports, Shipping, and Waterways (MoPSW) hosted a dynamic and collaborative workshop focused on ship building and ship repair, chaired by the Secretary MoPSW Shri TK Ramachandran, IAS. The event brought together key stakeholders from the maritime industry to discuss critical issues, share best practices, and foster innovation in ship maintenance and construction. The workshop on Ship Building and Ship Repair is the next in series of discussions being held by Ministry of Ports Shipping and Waterways (MoPSW) to elevate the maritime sector in Indian. The 1st workshop ...

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Chinese shipbuilders set sail in high gear amid growing demand

At a bustling coastal factory in Longkou City in east China’s Shandong Province, several giant ships at different stages of construction can be spotted, with workers toiling tirelessly to prepare them for their final delivery. These ships, being built by Longkou CIMC Raffles Offshore Limited, will be used for transporting made-in-China automobiles to international markets. Specifically designed for shipping cars, the “ro-ro” (roll-on/roll-off) auto carrier has become a much sought-after product due to rising orders partly driven by China’s robust auto exports. Official data showed that China exported a total ...

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China State Shipbuilding Corp wins world’s first ammonia-powered container ship order

China State Shipbuilding Corp has obtained an order to sell its ammonia powered container ships to Belgian ship owner CMB.Tech, according to the China Ship News. The deal marks another important breakthrough for the global shipping industry in the field of powering ships with clean energy sources, and is a milestone in leading global shipbuilders in charting a new course on clean development that is green, sustainable and environmentally friendly, according to the report. The 1,400-TEU Container Ship, independently designed by Shanghai Merchant Ship Design and Research Institute(SDARI), part of ...

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HMM, Hyundai Glovis aim for car shipping sector as rates jump

South Korea’s major ocean carriers HMM Co. and Hyundai Glovis Co. aim to take advantage of the booming car shipping business as vehicle freight rates are expected to rise further after surging by nearly ten times given the shortage of vessels and the increase in Chinese automobile exports. HMM, the country’s top container line, ordered seven new vessels to restart the car shipping business, which it sold more than 20 years ago. Hyundai Glovis, the world’s third-largest vehicle shipping company, plans to expand its car carrier fleet by more than ...

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