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Korean shipyards’ profitability to improve on higher LNG tanker contract prices

South Korean shipyards grappling with intensifying industry competition, surging material prices and labor costs are expected to breathe easily with rising LNG tanker orders and contract prices on higher demand. According to data compiled by Maeil Business Newspaper on Thursday, Korea Shipbuilding & Offshore Engineering Co. (KSOE), Daewoo Shipbuilding & Marine Engineering Co. (DSME) and Samsung Heavy Industries Co. this year have brought home a combined 13.18 trillion won ($10.2 billion) worth orders for 48 LNG carriers. The average contract price for a 174,000 cubic meter LNG tanker is worth ...

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GTT is selected by Hudong-Zhonghua Shipbuilding (group) Co. Ltd. to design the tanks of six new LNG carriers

GTT announces that it has received an order from its partner the Chinese shipyard Hudong-Zhonghua Shipbuilding (Group) Co. Ltd. for the tank design of six new LNGCs[1] on behalf of an Asian ship owner. GTT will design the tanks of these six vessels, which will each offer a capacity of 174,000 m3. The tanks will be fitted with the GTT NO96 Super+ membrane containment system, a technology developed by GTT. These six vessels add to the first order of six vessels won in January and already announced by the Chinese ...

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Iran, Russia reach initial agreement for joint ship production

A report by Iran’s Trade Promotion Organization (TPO) published on Thursday said that TPO’s head Alireza Peymanpak had reached agreements on the issue with Russian authorities during meetings had held in the city of Saint Petersburg earlier in the day. “The Russian side has committed to help the Iranian side in the joint manufacturing of ships and also to supply the ships needed by the Islamic Republic of Iran,” read part of the report published in the local media. It said Iran and Russia had also reached an agreement under ...

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DSME mounts world’s first high-manganese steel fuel tank on crude-oil carrier

Daewoo Shipbuilding & Marine Engineering Co. (DSME) said on Thursday it has held a ceremony to mark the world’s first installation of a high-manganese steel fuel tank on a very large crude-oil carrier. The feat was a joint work of 10 years by the Korean shipbuilder and steelmaker POSCO. The two companies independently developed manufacturing technology covering every stage from pre-treatment to welding, and applied their own expertise to mass production, machinability, and installation. DSME said it expects to go independent technologically in the production of LNG cargos if price ...

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Oil carrier installed with LNG fuel tank made of high manganese steel at Daewoo shipyard

In a ceremony that heralded the accomplishment of complete technology independence, a liquefied natural gas fuel tank made of high manganese steel was installed on a giant oil carrier at the shipyard of Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea. High manganese steel is an alternative material for cryogenic services. The ceremony on June 16 was the result of a joint study by Daewoo Shipbuilding & Marine Engineering (DSME) and the research center of South Korea’s steel group POSCO to apply high manganese steel to tank ...

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Chinese Shipbuilders Increasing Share in LNG Carrier Market

Chinese shipbuilders are entering the global LNG carrier market, which has been dominated by South Korean shipbuilders. For example, last month, Jiangnan Shipyard signed a contract with a subsidiary of the Abu Dhabi National Oil Co. to supply four LNG carriers each with a capacity of 175,000 cubic meters. It is the first LNG carrier contract of the Chinese shipbuilder. In April this year, Dalian Shipbuilding Industry concluded a contract with China Merchants Group subsidiary CMES to supply two with the same capacity. Likewise, it is the first LNG carrier ...

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Actions on EEXI: Strengthening Corporation through UE family

International Maritime Organization (IMO) requires in-service ships to comply with EEXI (Energy Efficiency Existing Ship Index) regulations as a countermeasure of GHG (Greenhouse Gas) emissions reduction taking opportunities of regular surveys,IAPP (International Air Pollution Prevention) certificate issuance at an annual survey, intermediate inspection or renewal survey after January 1st 2023. Japan Engine Corporation (J-ENG) has proposed EPL (Engine Power Limitation) as an effective solution by publishing the relevant technical information as the guidance of EEXI regulations in December 2021. In the above technical information, for non-electronically-controlled engines, various technical solutions ...

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China to regain world’s top spot in shipbuilding as Shanghai shipyards ramp up resumption

Chinese shipbuilders are working around the clock to meet rising global orders as Shanghai, the major world production center for shipbuilding, gets fully back to business, with some industry analysts expecting that the Chinese shipbuilding sector will reclaim the world’s top position in the second half of this year. The epidemic in Shanghai disrupted shipbuilding due to logistics hurdles, quarantine measures and other factors, allowing South Korea to temporarily replace China as the world’s No.1 market by orders. But industry analysts said that Shanghai’s shipbuilders, which are back to 70 ...

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WinGD and Hyundai Heavy Industries collaborate on ammonia two-stroke engine development

WinGD and Hyundai Heavy Industries’ Engine Machinery Division (EMD) are to collaborate on delivering the first WinGD engine capable of running on ammonia, providing a vital step in shipping’s progress towards decarbonisation. Under an MOU (Memo of Understanding) signed during the Posidonia exhibition on 7 June, the two parties will aim to deliver a first engine by 2025, in line with WinGD’s previously announced timeframe for bringing ammonia engines to market. The project will explore ammonia concepts for both diesel-fuelled WinGD X-type engines and dual-fuel LNG X-DF engines. Dominik Schneiter, ...

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For the third year in a row, GTT takes 1st place in the Inpi’s list of ETI patent applicants

GTT group, the technological expert in membrane containment systems dedicated to the transport and storage of liquefied gases, takes first place in the INPI’s list of ETI[1]patent applicants, for the third consecutive year, with 55 patents published in 2021[2]. In the ranking of the Top 50 patent applicants in all categories, GTT is in the 30th place. This ranking highlights GTT’s strong innovation dynamic, with a R&D budget representing 10% of the Group’s turnover and 26% of its workforce in 2021. Innovation is one of the Group’s fundamental values and ...

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Daewoo shipyard leads joint development of onboard carbon capture and storage system for LNG carriers

Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, will lead the development of a ship-based carbon capture and storage system for use by natural gas carriers to be delivered to its Greek client, Gaslog, in 2024. The system treats exhaust gases emitted from the internal combustion engine of ships Daewoo Shipbuilding & Marine Engineering (DSME) said it signed a tripartite cooperation agreement with GasLog, an LNG shipping services company in Greece, and the American Bureau of Shipping (ABS), a classification society in the United States, on the ...

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South Korea tops shipbuilding order volume in May

South Korean shipbuilders took back the top spot from China in the world market in May, winning nearly half of total global orders. Korean companies won 1.2 million compensated gross tonnage (CGT) in shipbuilding orders during the month, which accounted for 48 percent of the total global ship orders of 2.5 million CGT, according to the UK-based Clarkson Research Services on Tuesday. China came second with 0.84 million CGT, while Japan was in third place with 0.42 million CGT. CGT is a unit to provide a common yardstick to measure ...

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Damen Shiprepair Amsterdam converts cruise ship into Azamara Onward

The fourth ship was added to the fleet of the new cruise line operator Azamara following extensive refitting at the yard of Damen Shiprepair Amsterdam. Benefiting from equipment overhaul and conversion to cleaner fuel, Azamara Onward sailed to Monte Carlo for her naming festivity on 2 May. The 180 meter passenger vessel was berthed alongside at the Amsterdam yard from August 2021 to get an upgrade to the standards of cruise operator Azamara, refurbishing all cabins and suites and adding spa suites and terrace rooms. Passenger shared spaces like restaurants ...

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Mitsubishi Shipbuilding Completes Conceptual Design of VLGC Enabling Conversion of Main Fuel from LPG to Ammonia

Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has completed the conceptual design of a Very Large Gas Carrier (VLGC) initially powered by liquefied petroleum gas (LPG) but adaptable to future use of ammonia as the main fuel(1). Approval in Principle (AIP)(2) for the design has been acquired from the Japanese classification society ClassNK. The conceptual design of an LPG-powered VLGC enabling future conversion to ammonia fuel was developed based on Mitsubishi Shipbuilding’s experience and expertise in the construction and delivery of more than 80 very ...

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Sandock Austral Shipyards adds a new tool to its maritime arsenal

Sandock Austral Shipyards has added a new tool to its maritime arsenal that is set to revolutionise the way containers are handled in South Africa’s ports – ultimately leading to less road congestion and faster turnaround times for imports and exports. The internationally patented, German designed self-propelled and self-sustained Port Feeder Barge is set to solve a host of challenges experienced by South African ports as it can be deployed at a moment’s notice to wherever it is needed and can operate easily in low water depth or high berth. ...

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