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Milestone for Strategic Marine’s StratCat 27 program as it sells first pair to Manor Renewable Energy

Strategic Marine (S) Pte Ltd (“SMS”) has sold two StratCat 27 (SC27) Crew Transfer Vessels (CTVs) to a new client, Manor Renewable Energy (MRE), a leading UK-based renewable energy service provider. This is the first sale to the MRE Group, which provides a range of survey and positioning services and fleet vessels for offshore wind projects worldwide. Strategic Marine’s SC27 was developed in collaboration with design partner BMT and launched in May last year. Widely welcomed by the industry, the vessel meets the increasing demands of the offshore wind industry ...

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GTT receives an order from Samsung Heavy Industries for the tank design of two new LNG Carriers

GTT announces that it has received an order from its partner the Korean shipyard Samsung Heavy Industries for the tank design of two new LNGC1, on behalf of an European ship owner. These two LNG carriers will have a total LNG tank capacity of 174,000 m3 per ship and will be fitted with the Mark III Flex membrane containment system, developed by GTT. Deliveries of the vessels are scheduled for the last quarter of 2024 and the first quarter of 2026. GTT is a technological expert in containment systems with ...

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HJSC wins a bid to build two dual-fuel LNG 7,700 TEU-class container ships

HJ Shipbuilding & Construction (HJSC) announced that it signed a USD 240 billion contract with a European ship owner to build two 7,700 TEU dual-fuel LNG container vessels (optional for the construction of two more ships). The South Korean shipbuilder signed a contract to build four 5,500TEU container ships last year and won another bid for two more vessels in same class in March this year. With this successful bid of two 7,700TEU container ships, the global shipbuilding company now has 8 container vessels to build. Since this contract includes ...

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Korea Shipbuilding Develops Waste Heat-derived LNG Fuel Supply System

Korea Shipbuilding & Offshore Engineering Co. said Thursday that it and its affiliate Hyundai Heavy Industries Co. have received approval in principle from Norwegian-German ship quality assurance society DNV and Britain’s Lloyd’s Register for their new liquefied natural gas (LNG) fuel supply system. The newly-developed system, dubbed Hi-eGAS (Hyundai High Efficient Gas Supply System), is based on the concept of recycling the waste heat generated during the process of supplying fuel to LNG-powered ships. Compared to existing systems, it can reduce fuel consumption and carbon emissions by 1.5 percent. LNG-powered ...

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HJ Shipbuilding wins $240 mil. order for 2 container ships

Korean shipyard HJ Shipbuilding & Construction said it has clinched a $240 million order to build two eco-friendly container carriers for a European shipper. The company said it will build the 7,700 twenty-foot equivalent unit container vessels with liquefied natural gas dual-fuel engines at its shipyard and deliver them to the undisclosed shipping company from late 2024. HJ Shipbuilding & Construction, formerly Hanjin Heavy Industries & Construction, said the contract contains an option to construct two more container carriers of the same size. If the option goes into effect, the ...

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China delivers world’s largest 24,000 TEU container ship

The world’s largest container ship, the first of its kind made by China, was delivered on Wednesday in the coastal city of Shanghai. The Ever Alot has a capacity of 24,000 TEU (twenty-foot equivalent units), the measurement used to determine cargo capacity for container ships and ports and based on the volume of a 20-foot-long (6.1-meter) standard-sized container. It was designed by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd., a subsidiary of the China State Shipbuilding Corporation, with complete independent intellectual property rights. The ship is 399.99 meters long, over 60 meters ...

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The world’s largest 24,000-TEU container ship, built by CSSC, is completed in Shanghai

The world’s largest container ship, built by China State Shipbuilding Corporation, can carry 24,000 twenty-foot equivalent unit (TEU) containers, and was handed over in Shanghai to its client on Wednesday. The ship was independently designed by Hudong-Zhonghua Shipbuilding Co, a subsidiary of China State Shipbuilding Corporation (CSSC). Hudong-Zhonghua owns the ship’s independent intellectual property rights, China Central Television (CCTV) reported. After being put into operation, it will serve routes from the Far East to Europe. The mega ship, measures 399.99 meters long, is more than 60 meters longer than the ...

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Samsung Heavy Industries: Rising Steel Plate Prices to Hurt 2Q22 Earnings

Despite revising down our earnings outlook to reflect the anticipated earnings shock in 1H22, we raise our 12m TP for Samsung Heavy Industries (SHI) by 9.1% from KRW5,500 to KRW6,000 given an upward revision to ROE and changes to 30y KTB (terminal growth rate) and 1y MSB (risk-free rate) yields. We have also reflected changes to our oil price assumptions; oil price has exceeded USD90/bbl, our previously issued bull-case scenario level. We maintain HOLD as our new TP offers upside of just 1.2% from the latest close. Earnings shock likely ...

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Samsung shipyard wins $3.0 billion orders to build 14 LNG carriers

Samsung Heavy Industries, a major shipbuilder in South Korea, has secured two separate orders worth 3.9 trillion won ($3.0 billion) to build 14 liquefied natural gas carriers for clients based in Bermuda and Africa. With new orders, the shipbuilder achieved 72 percent of its annual order target estimated at $8.8 billion. In a regulatory filing on June 22, Samsung Heavy Industries (SHI) said it has clinched an order worth 3.33 trillion won from an unidentified client in the Bermuda area to build 12 174,000 cubic meter-class LNG carriers. The contract ...

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New majority shareholder in DESMI

DESMI, a Danish manufacturer of pumps, pumping systems, environmental cleaning equipment and related products and services, today announced it has signed a definitive agreement to sell a majority share to One Equity Partners (“OEP”), a middle market private equity firm. Terms of the transaction were not disclosed. Founded in 1834 and headquartered in Nørresundby, Denmark, DESMI provides pumping solutions to end-markets including marine and offshore, industrial, utility, and defense and fuel. The company also provides environmental solutions for oil spill response, seaweed collection and cleaning waterways. DESMI has global operations ...

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Shipbuilder delivers first methanol hybrid tanker

The country’s first methanol-propelled dual-fuel vessel was delivered on Monday in Guangzhou, Guangdong province. The vessel was developed and built by Guangzhou Shipyard International (GSI), which is listed on the Shanghai Stock Exchange. It is a subsidiary of China State Shipbuilding Corp. The drive system of the 49,900-ton oil and chemical tanker is a methanol hybrid that can reduce up to 75 percent of carbon emissions, 15 percent of nitrogen emissions and 99 percent of sulfur and particulate emissions. Zhou Xuhui, vice-president and senior engineer at GSI, said the green ...

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Libra Group unit enters Jones Act market with U.S. shipyard acquisition

Global group Libra has acquired a U.S. shipyard through a subsidiary to capitalise on growing ship building demand for the offshore wind industry as Washington accelerates efforts to boost cleaner power, top company executives said. U.S. President Joe Biden’s administration is pushing to expand the fledgling offshore wind energy industry in the coming decade by opening new areas to development and accelerating permits as part of moves to decarbonise the economy by 2050. Ships ferrying workers and equipment are crucial for offshore wind installations but the U.S. market is restricted ...

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GTT entrusted by Hyundai Samho Heavy Industries to design the fuel tanks for four new LNG-fueled container vessels

GTT has been chosen by its partner the Korean shipyard Hyundai Samho Heavy Industries (HSHI) to design the cryogenic fuel tanks of four liquefied natural gas (LNG) fueled container vessels. These vessels, each capable of carrying 7,900 containers, will be equipped with an LNG fuel tank with a capacity of 6,000m3. Each LNG fuel tank will be fitted with the Mark III Flex membrane containment technology. The delivery of the vessels is scheduled for the third and the fourth quarter of 2024. Philippe Berterottière, Chairman and CEO of GTT, declared: ...

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Vard Electro steps up investment for autonomous ship operations with launch of SeaQ Remote

Vard Electro aims to facilitate a new generation of larger robotic vessels with the launch of SeaQ Remote to provide centralized remote operation of automated ship control systems and deck machinery in support of lean crewing, lower costs, safety and sustainability. The new product, which will see its debut delivery on a total of 14 newbuild marine robotic vessels contracted with shipbuilder VARD, is designed to unify the SeaQ suite of automation systems into a single user interface with the full range of remote functionality from shore. “This represents a ...

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HHI Group in Talks with Maersk over Applying Methanol Dual-fuel Engines to Its Fleet

Hyundai Global Service, a ship service subsidiary of Hyundai Heavy Industries Group, is in talks with Maersk Line, the world’s largest shipping company, on applying methanol dual-fuel engines to the shipper’s fleet. Maersk operates a total of 741 vessels, including 345 directly owned ships. Hyundai Global Service is discussing the adoption of alternative fuel engines with large container shipping companies such as Maersk, Mediterranean Shipping Co. (MSC) and CMA-CGM. Korean shipping companies have also requested Hyundai Global Service to review the feasibility of converting engines of their ships into dual-fuel ...

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