July 23rd, 20190The fractious relationship between management and workers at the world’s largest shipbuilder is set to take another turn for the worse. Hyundai Heavy Industries (HHI) said today it will file a suit for damages this week against its labour union over disruptive action at the company’s shareholders' meeting in May and what it claims...
July 22nd, 20190A South Korean bulk carrier was attacked by pirates near the Singapore Strait on Monday, Yonhap News Agency reports. Seven armed pirates on a speedboat attacked the 2011-built, 81,100 dwt panamax bulker before dawn this morning around 100 miles from the entrance of the Singapore Strait, and took $13,000 cash along with other personal...
July 16th, 20190Korea Maritime Transport Co (KMTC) has sold a 21-year-old feeder ship for scrap that was involved in a spectacular fire while calling at Laem Chabang port in Thailand on May 25. Best Oasis is understood to have paid $425 per ldt for the fire ravaged 1,585 teu , in a deal that also comes with 390 tonnes of bunkers. The fire,...
July 15th, 20190Equinor, Korea National Oil Corporation (KNOC) and the Korean power company Korea East-West Power (EWP) have formed a consortium to develop floating offshore wind project Donghae 1, off Ulsan in South Korea. The consortium is currently launching the development of a 200MW floating wind farm near the KNOC-operated Donghae natural gas...
July 12th, 20191South Korean owner H-Line has placed an order at domestic yard Hyundai Samho for the construction of two LNG-powered 180,000 dwt capesize bulkers. The two vessels, which are scheduled for delivery in 2022, will be deployed on a route between South Korea and Australia. H-Line ordered two vessels of the same type at the shipyard in...
July 9th, 20190South Korean owner Kmarin has entered into letters of intent with two Chinese yards for the construction of eight VLOCs. According to shipbroking sources, the company will place orders for four 325,000 dwt bulk carriers each at Yangzijiang Shipbuilding and Beihai Shipbuilding on the back of long term charters with Brazilian miner...
July 3rd, 20190South Korean owner Sinokor has placed an order at domestic yard Samsung Heavy Industries for the construction of up to four 114,000 dwt aframax tankers. According to shipbroking sources, the contract includes firm order for two vessels and options for additional two vessels. The price for each ship is $51m and delivery is scheduled...
July 2nd, 20190Amid massive Asian shipbuilding consolidation, South Korea’s Hyundai Heavy Industries (HHI) has started the lengthy process of getting anti-trust regulators from across the world to approve its takeover of compatriot Daewoo Shipbuilding & Marine Engineering (DSME). HHI has submitted an application to merge with DSME to South...
July 2nd, 20190South Korea's foreign ministry has announced that the UN sanctions committee on North Korea has approved the release of two ships detained for illegal ship-to-ship transfers of petroleum products to North Korea. The committee approved to release the Hong Kong-flagged Lighthouse Winmore and South Korean ship P-Pioneer after the South...
July 2nd, 20194South Korean line HMM has been accepted into THE Alliance, becoming the fourth member of the liner grouping set up by Hapag-Lloyd, Ocean Network Express and Yang Ming in 2016. HMM will join the alliance as a full member, with a new contract between the four lines set to officially start on April 1, 2020. Additionally, all four members...
