Hydrogen is touted as an inevitable green fuel of the future. Tell that to the people who'll have to ship it across the globe at hyper-cold temperatures close to those in outer space.Yet that is exactly what designers are attempting to do.In the biggest technological challenge for merchant shipping in decades
South Korean shipbuilder Hyundai Heavy Industries Co Ltd said on Tuesday that it plans an initial public offering (IPO) to raise funds toward a 1 trillion won ($905 million) investment over five years into green technology.Hyundai Heavy will issue a stake of about 20% in new shares within the year, the shipbuilder said in a statement.
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.
South Korean shipbuilder Hyundai Heavy Industries Co Ltd applied for preliminary approval for an initial public offering, Korea Exchange said on Thursday.The company, currently wholly owned by Korea Shipbuilding & Offshore Engineering, was separated from Korea Shipbuilding in 2019.Hyundai Heavy reported a 2020 operating profit of 32.5 billion won on revenue of 8.
The United States stands ready to facilitate maritime border talks between Lebanon and Israel that will have benefits for the crisis-hit Lebanese economy, a U.S. envoy said on Thursday.On a visit to Beirut, Under Secretary of State David Hale blamed Lebanese leaders for failing to end a deadlock in cabinet talks to tackle the collapse, which has crashed the currency.
Fincantieri Bay Shipbuilding has delivered a newly built self-unloading barge to VanEnkevort Tug & Barge for operation on the Great Lakes.The new barge, named Michigan Trader, measures 740 feet in length, 78 feet in beam, and 45 feet in depth. The barge has a 265-foot unloading boom and capacity for up to 37,000 long tons of cargo.
China’s imports of light cycle oil (LCO) are set to fall in coming months as authorities crack down on its illicit trading and sales in South China, dealing a blow to the $10 billion market and to refiners in top supplier South Korea.China’s imports of the cheaper but more pollutive diesel blending fuel nearly doubled to record levels in 2020
Gulf Copper and Manufacturing Corporation has appointed Jonathan Whitworth as a member to its board of directors.Whitworth, a graduate of Texas A&M University at Galveston (TAMUG), brings his extensive working history and experience back to Texas. He holds an MBA in Finance with a focus on marine business and currently serves as vice chairman of the TAMUG Board of Visitors.