January 27th, 20200Two months ahead of the third anniversary since the sinking of the Stellar Daisy with the loss of 22 lives, the ship’s owner, Polaris Shipping from South Korea has decided to condemn to history all of the sister ships of the converted ore carrier. Splash understands Polaris has contracted with GMS, the world’s largest cash buyer...
January 22nd, 20200South Korean shipowner Pan Ocean has placed an order at Hyundai Mipo Dockyard for the construction of four chemical tankers. According to Hyundai Mipo, the total value of the order is KRW157.4bn ($135m), and deliveries will start from June 2021. Pan Ocean owns a diversified fleet of bulkers, boxships, tankers, gas carriers and...
January 14th, 20203South Korea is taking steps to green its coastline with the introduction of voluntary speed limits and an impending emission control area (ECA). The first part of the Special Act on Air Quality Improvement in Port and Other Areas is a voluntary vessel speed reduction program, which took effect last month, with ships that reduce their...
January 10th, 20200South Korean owner KSS Line has placed an order at Hyundai Heavy Industries (HHI) for the construction of another VLGC, adding to its existing order of three VLGCs at the yard. The latest 84,000 cu m gas carrier, fitted with scrubbers, is scheduled for delivery in the second quarter of 2021 and will go on long-term charter with BGN...
January 8th, 20200Local heavylift players in Korea have received fines for colluding in bidding for projects for the nation’s largest shipbuilder, Hyundai Heavy Industries (HHI). Dongbang, CJ Logistics, Shebang, Global, KCTC and Korea Logistics have been fined a total of KRW6.84bn ($5.87m) for colluding to raise prices for HHI over a 14-year...
January 8th, 20201International energy giant Shell has selected three owners for the long-term charter of a total of eight dual-fuel 174,000 cu m LNG carriers. According to the latest Allied Shipbroking report, Knutsen OAS Shipping has ordered four LNG carriers at Hyundai Heavy Industries while JP Morgan Global Maritime and Korea Line have each ordered...
January 2nd, 20200In his first new year’s address to employees since becoming president and CEO of Korea’s largest shipping line, Jae Hoon Bae, the head of HMM, has outlined how the line intends to more than double in size to 1m teu in capacity. HMM will start to take delivery of twelve 24,000 teu ships from the second quarter of this year. Plenty...
December 17th, 20190Norwegian pure-play VLGC owner Avance Gas Holding has ordered two 91,000 cu m LPG dual-fuel VLGCs at South Korea's DSME. The vessels have the latest dual-fuel propulsion systems which the company says will significantly lower fuel consumption, reduce fuel costs and reduce emissions compared to any other VLGC on the water. Ulrik...
December 13th, 20191Daewoo Shipbuilding & Marine Engineering (DSME) is celebrating its first offshore plant order since 2014. The Korean yard has won a $200m order from Chevron to build a semi-submersible offshore platform capable of producing 75,000 barrels of crude per day in the Gulf of Mexico. In the five years since DSME last won an offshore...
December 12th, 20191South Korean dry bulk owner Joong Ang Shipping appears to be heading for an exit of the panamax sector. Brokers are circulating the company’s only two panamaxes, the 2011-built Daewoo pair Sunny Young and Wise Young. Joong Ang is said to be inviting offers for the pair, which are valued around the $8.5m-$8.7m mark according to...
