POSCO obtained the first domestic certification for steel used in liquefied carbon dioxide (LCO2) medium-pressure tanks in February, accelerating its entry into the LCO2 tank steel market. LCO2 carriers will be used to safely transpo..
CIMC SOE, a subsidiary of China’s state-owned CIMC, is set to secure an order for an LNG bunkering vessel (LNGBV) from Belgian owner Somtrans. According to industry sources, the two parties are reportedly in talks to build a 20..
Daesun Shipbuilding & Engineering recently revealed its financial results for 2024, posting a revenue of KRW 322.5 billion and an operating loss of KRW 5.5 billion. Compared to 2023, revenue rose by 17.2% from KRW 275.2 billion, ..
The growth of global very large crude carrier (VLCC) fleet is expected to reach a 8% level for the next three years, but the yearly figure would be virtually about 1% as the proportion of vessels of over 20 years old is very high. A..
The orders of LNG carrier, a main product of Korean shipbuilding industry, has been shrunk this year. However, Korean shipyards have more expectations than worries as the outlook for future global LNG demand is solid due to economic gro..
South Korean shipbuilders have increased the scale of their research & development (R&D) efforts amid strengthening decarbonization initiative in the world, as well as the coming of the fourth industrial revolution led by artifi..
As the U.S. government forewarns hefty entry fees for Chinese-built ships and continues tightening regulations on Chinese newbuilds, major shipowners are shifting their general merchant ship orders from China to Korean shipyards. This m..
HD Hyundai joins hands with Anduril Industries, the US artificial intelligence (AI) defense tech firm, to develop unmanned surface vehicle (USV). The South Korean behemoth announced on April 4 that the company and Anduril signed a me..
Subsea7 announced on April 4 that the company was awarded a sizeable (between $50 million and $150 million) contract by Shell Offshore Inc. for the Sparta deepwater development in the US. The project involves the transportation and i..
Eastern Shipbuilding Group, Inc. (ESG) has officially begun construction on the U.S. Army Corps of Engineers’ (USACE) new medium class hopper dredge with a ceremonial steel-cutting event. This milestone marks the start of a histor..
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