Hyundai Heavy Industries Holdings said on Monday it had appealed to an EU court to fight the European Commission's January decision to block its takeover bid for rival shipbuilder Daewoo Shipbuilding & Marine Engineering.The suit, made to the European Union's General Court, was filed on March 23, a Hyundai spokesperson said.
Oil prices spiked to their highest levels since 2008 on Monday as the United States and European allies weighed a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled supply fears.In the first few minutes of trade Brent crude reached $139.13 and U.S. West Texas Intermediate (WTI) hit $130.
A first of its kind cleaner burning methanol-fueled towboat is set to hit the water in 2023 as the maritime industry continues to develop and implement new technologies for cleaner vessel operations.The Hydrogen One is being developed by owner Maritime Partners in cooperation with naval architecture firm Elliott Bay Design Group and hardware suppliers e1 Marine and ABB.
Singapore-listed offshore services provider Marco Polo Marine has completed the acquisition of the offshore renewables service firm PKR Offshore.Marco Polo bought the Taiwan-based company through its 49% owned joint venture company, Oceanic Crown Offshore Marine Services Ltd, through the completion of its previously announced share purchase agreement with Kerry and POSH.
Singapore-based offshore shipping, shipbuilding, and ship maintenance company Marco Polo Marine has partnered up with green tech ship design company Seatech Solutions International to co-develop two new specialized offshore wind service, operation, and maintenance vessel and the commissioning Service Operation Vessel (CSOV), for the global offshore wind farm market.
PSA Marine Peru, a wholly owned subsidiary of PSA Marine (Pte) Ltd,. contracted Cheoy Lee Shipyards in Hong Kong for equipping one newly built tug with Schottel RudderPropellers featuring the patented SYDRIVE-M technology. SYDRIVE-M is designed to ensure lower maintenance costs and less fuel consumption, enabling PSA Marine Peru to offer emission-reduced towing services in Peruvian ports.
SHI reports that it has successfully developed an 'Onboard Carbon Capture' system which can be applicable to LNG fueled vessels with PANASIA, an eco-friendly and energy system expert, and received Approval in Principle from KR, Korean classification society, for the first time in Korea.
Hyundai Heavy Industries' shares closed 86% above their initial public offering (IPO) price on their trading debut in South Korea on Friday.The shipbuilder, one of the largest in the world, raised $935 million from its IPO, with much of the proceeds set to fund investments in new technology.
South Korean shipbuilder Hyundai Heavy Industries has raised $935 million after pricing its IPO at the top of its indicative range, with much of the proceeds set to fund investments in new technology.It offered 18 million new shares or 20% of shares outstanding in a range of 52,000-60,000 won per share.It is expected to list on the KOSPI on Sept. 16.
Corvus Energy announced it has been selected by ABB Marine & Ports to supply the energy storage system for Crowley Maritime Corporation's all-electric tug eWolf—the first of its kind in the U.S.Crowley, which announced its plans to build and operate the innovative harbor tug in July, has tapped Master Boat Builders, Inc.
A Project Partnership Agreement (PPA) between the U.S. Army Corps of Engineers (USACE) and the Port of Houston Authority (Port Houston) was formally presented for the Houston Ship Channel's billion-dollar widening and deepening program, Project 11.The PPA is the official document committing Port Houston to the responsibilities of the project as the local non-federal sponsor.
Unable to get a slot on a container vessel, Lee Sang-hoon is considering using fishing trawlers docked for repair in the South Korean port of Busan to meet surging export orders for the car engine oil he sells to Russia."China is the black hole in this shipping crisis, all the carriers are headed there," said Lee, owner of Dongkwang International Co. in Busan which makes about 20 billion won ($17.