South Korea's HD Hyundai Heavy Industries is in talks with multiple companies about buying a U.S. shipyard, a senior company executive said, seeking to tap into President Donald Trump's push to revive America's ailing shipbuilding industry.The world's largest shipbuilder based on orders is targeting 3 trillion won ($2.2 billion) in annual revenue by 2035 from building warships for the U.S.
South Korea's HD Hyundai Heavy Industries, the world's biggest shipbuilder, said on Wednesday that it plans to merge with its affiliate HD Hyundai Mipo as it targets a bigger slice of the U.S. shipbuilding market.With the merger, the company said it aims to lead U.S.-Korea shipbuilding cooperation projects touted during a recent summit between the leaders of the countries that Seoul has dubbed
The United States expanded sanctions against Iran's petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said.The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran's economy with the aim of denying the government funds to support its nuclear and missile programs.
A landmark moment in Gulf Coast industry was celebrated today with the christening of Creole King, a state-of-the-art barge-mounted stevedoring crane, at the Port of Iberia.Operated by Cooper Consolidated and assembled by E-Crane’s Gulf Coast Service team, the Creole King represents a technological and environmental leap forward for midstream cargo operations.
American Cruise Lines christened American Patriot in Newport, Rhode Island last week—celebrating the holiday and simultaneously marking the countdown to the country’s 250th birthday on July 4, 2026. American Patriot is the first ship in the company’s new Patriot Class—a fleet of new 130-passenger ships designed for exclusively cruising the U.S.A.
CK Hutchison on Thursday reported an 11% drop in underlying profit for 2024, as one of Hong Kong's most powerful conglomerates becomes increasingly embroiled in a political row over the sale of its ports business to a BlackRock-led consortium.The telecoms-to-retail conglomerate, owned by billionaire Li Ka-shing, said this month it had agreed to sell most of its global ports business
Port of Savannah received four new electric ship-to-shore cranes on January 25, 2025, bringing Ocean Terminal’s fleet to eight Super Post Panamax cranes, all designed by Finland-based Konecranes.Once all cranes are commissioned and berth construction is completed, the eight ship-to-shore cranes at Ocean Terminal will have the capability to service two vessels simultaneously.
Traders diverted at least six cargoes of liquefied natural gas that were on course for Asia to Europe earlier this month, drawn by higher European prices and amid weak Asian demand, according to analysts and shipping data.The diverted cargoes could help meet additional European demand as countries seek to replace piped Russian gas after the Ukraine transit deal expired on Jan.
South Korean conglomerate Hanwha Group on Monday raised its offer for the remaining stake it does not already own in Singapore's Dyna-Mac, valuing the offshore oil and gas contractor at S$790.6 million ($605.41 million).The improved offer of S$0.67 per share represents a 35.4% premium to Dyna-Mac's last traded price on Sept. 10, before Hanwha's earlier offer of S$0.60 per share was disclosed.
Hurricane Milton closed in on Florida's Gulf Coast on Wednesday, spawning tornados and lashing the region with rain and wind hours ahead of its expected landfall near Tampa Bay, where it could deliver a life-threatening surge of seawater to communities along the waterfront.Millions of people along a stretch of more than 300 miles (483 km) of coastline were under evacuation orders
A Liberia-flagged cargo ship carrying corn from a Russian port to Turkey is trying to stop water leaking in after sustaining a crack in the Sea of Azov earlier this week, Russia's port agency said.The vessel, Pavel Grabovskiy, was loaded with 2,939 tons of corn. It was sailing to Turkey from the Russian port of Rostov when it contacted Russia's marine rescue center in Taman
Germany has refused to allow a Russian LNG shipment at the Brunsbuttel terminal in northern Germany in line with Berlin's policy not to import LNG from Russia, industry sources said on Thursday.The Financial Times reported earlier on Thursday that Germany's economy ministry BMWK had instructed the Deutsche Energy Terminal not to accept any deliveries of Russian LNG after the company informed