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Hyundai floats aegis destroyer
[General]
S. Korea's Hyundai Heavy Industries launched the Korean Navy's third aegis destroyer of 7,600-ton class named 'Ryuseongryong' at its Ulsan shipyard today. The unit is 166 meters in length, 21 meters in breadth and 49 meters in height with passeng...
2011-03-24 12:22:58
Korean roll out 'Smart Ships'
[General]
The Korean Government's efforts for shipbuilding industry information technology (IT) convergence have finally beared the first fruit. Korea's Ministry of Knowledge Economy (MKE) announced today 'Ship Area Network (SAN)' jointly developed by Elec...
2011-03-24 12:05:32
Shipbuilding industry in Red
[Equipment]
There are warning sings ahead for the profitability of Korean shipyards since newbuilding prices continuously fall while steel plates are expected to increase dramatically. According to the Clarkson Research Service and shipbuilding industry sour...
2011-03-24 11:27:57
Hyundai to meet expected Q1 results
[Finance]
Seoul-based Hanhwa Securities cast a prospect on the Q1 results of Hyundai Heavy Industries (pictured) today. Jung Dong-ik, analyst of the securtieis company, said, "The Q1 sales of the yard would be KRW 6.3647trn ($5.7bn) increasing by 19.9% y-...
2011-03-24 11:00:13
Hyundai Mipo falls short
[Finance]
Seoul-based Hanhwa Securities revealed today Hyundai Mipo Dockyard would fall short of expectation in terms of Q1 results. Jung Dong-ik, researcher of the securities company, said, "Hyundai Mipo's Q1 sales would be KRW 958.9bn ($854m) and operat...
2011-03-24 10:19:04
Sungdong signs 157K Shuttle Tankers
[Shipbuilding]
S. Korea's Sungdong Shipbuilding & Marine Engineering announced today it has won two shuttle tankers of 157,000 DWT, six boxships of 4,700 TEU including two options and one kamsarmax bulker of 82,000 DWT from European shipowners, all of them coming i...
2011-03-24 09:55:25
LNG carrier design for ice operations
[Equipment]
Class society ABS has been collaborating with South Korea’s Hyundai Heavy Industries (HHI) to evaluate the basic design and containment system parameters for an LNG carrier operating in an Arctic environment. Specifically the carrier would oper...
2011-03-24 08:13:34
LNG carrier order boom looms
[Offshore]
Renewed concerns about nuclear power could spur new orders for LNG carrier newbuildings. “Demand for LNG is going to grow as a source of alternative energy, which could lead to a shortage of vessels,” said Mirae Asset Securities analyst Lee S...
2011-03-24 08:10:09
Cargotec wins EUR 20m orders
[Equipment]
Cargotec has confirmed new orders worth more than EUR 20 million to deliver fully electric driven MacGregor cargo handling cranes, together with hatch cover design and key components. The equipment will be delivered for eight general cargo vessels to...
2011-03-24 08:04:03
"Time for Floating LNG": ABS
[Offshore]
ABS Vice President of Global Gas William J. Sember (pictured) says the classification society is in advanced stages of design review for a number of Floating LNG (FLNG) concepts, as this technology moves ever closer to reality Speaking at the Gas...
2011-03-24 07:14:39
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