With the U.S. Navy and U.S. Coast Guard FY 2025 budget requests offering uninspiring news for traditional shipbuilders, industry observers might be forgiven for checking out and dismissing 2024 as just another dull year in the frustrating business of government shipbuilding.But with an election season underway and an increasingly disorderly sea
The world’s first large methanol-enabled container ship has been named Ane Mærsk at a ceremony in the shipyard of HD Hyundai Heavy Industries in Ulsan, South Korea.The 16,000 TEU vessel is named after Ane Mærsk Mc-Kinney Uggla, the Chair of the A.P. Moller Foundation and A.P. Moller Holding.
Realizing the full value of digital solutions far exceeds the capability of technology. The technology exists today to help offshore energy and maritime operators radically improve efficiency and cut costs in equal measure. The real trick to driving efficiencies is to take advantage of the latest technologies while at the same time negotiating the necessary culture change within individual
Qatari oil and gas company QatarEnergy has ordered 17 "ultra-modern" LNG carriers from South Korea's HD Hyundai Heavy Industries (HHI).The deal, signed at a ceremony in Seoul, is valued at 14.2 billion Qatari Riyals (currently around $3,9 billion), and marks the start of the second phase of QatarEnergy's LNG ship acquisition program
Interest in methanol as an alternative fuel has grown in the shipping industry, which seeks to achieve net-zero emissions by 2050.Below is a list of upcoming methanol bunkering-related projects by companies and ports:COMPANIES:A.P. Moller-MaerskMaersk received the world's first methanol-enabled container ship in July.
American Bureau of Shipping (ABS) has issued an approval in principle (AiP) for a 50K DWT ammonia-powered tanker design from HD Hyundai Mipo.The vessel will feature an ammonia engine designed by WinGD and manufactured by HD Hyundai Heavy Industries – Engine & Machinery Division (HHI-EMD).
Cerberus Capital Management agreed to lease part of its 350-hectare Philippine shipyard in Subic Bay to HD Korea Shipbuilding and Offshore Engineering, which plans to build a facility there to manufacture offshore wind platforms.The shipyard was run by Hanjin Philippines before it defaulted on loans worth $1.3B in 2019.
HD Hyundai Marine shares closed up 97% versus their initial public offering (IPO) price in the company's trading debut on Wednesday, after a 742 billion won ($538 million) IPO, South Korea's largest in two years.The successful listing of the ship maintenance and repair firm, backed by U.S. private equity giant KKR, paves the way for other potential offerings to come to market.
U.S. shipbuilder Philly Shipyard announced it has signed a memorandum of understanding (MOU) with the world's largest shipbuilding group, South Korea's HD Hyundai Heavy Industries (HHI), to explore a potential business relationship relating to future U.S. government shipbuilding projects as well as maintenance, repair and overhaul (MRO) projects.
Mitsui O.S.K Lines (MOL) has signed non-binding memorandum of understanding (MoU) with Woodside Energy, HD Korea Shipbuilding and Offshore Engineering (HD KSOE), and Hyundai Glovis to jointly study the development of shipping solutions to enable bulk marine transportation of liquid hydrogen.Woodside Energy, HD KSOE and Hyundai Glovis have been studying liquid hydrogen transportation since 2022.
Accelleron has signed an agreement with HD Hyundai Marine Solution (HD HMS) that simplifies access to its digital turbocharger optimization solutions for vessels built or serviced by the world’s biggest shipbuilder, HD Korea Shipbuilding & Offshore Engineering.As part of the agreement
A design for a floating offshore nuclear power barge from HD Korea Shipbuilding & Offshore Engineering (KSOE) and KEPCO Engineering and Construction Company, Inc. (KEPCO E&C) received approval in principle (AIP) from ABS.Project collaborators include ABS, HD KSOE, KEPCO E&C and the Liberian International Ship & Corporate Registry (LISCR).