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Total : 86

Maritime Cluster Networking in Korea (Mac-Net) Hosted Seminar on Digital Platform for Vessels

On November 23rd, Mac-Net hosted ‘Digital Platform of Vessels and Smart Ship 2030’. While more than 200 professionals from the related industries, academia, government departments participated in this seminar, presentations and open discussions were held under the topic of ‘The Present Situation and Future Challenges of the Fourth Industrial Revolution.’ Indeed, it was an incredibly significant seminar that provided those present with an opportunity to renew the organic partnership betwee...

2017-12-14
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Hyundai Merchant Marine Opens New Route of Korea-China-Russia in Collaboration With Sinokor Merchant Marine

In collaboration with Sinokor Merchant Marine, Hyundai Merchant Marine decided to commence with a new container liner service that will link major ports of Korea-China-Russia from late December of this year. The new service will be operated two times a week and each schedule will have different routes, which commence from Central China and Southern China. Hyundai Merchant Marine is now able to provide services that are greatly improved than that of the existing routes by adding domestic port...

2017-12-14
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Daewoo Shipbuilding & Marine Engineering Has Developed the World’s Best LNG Cargo Hold For Themselves

Daewoo Shipbuilding & Marine Engineering has successfully developed the world's best LNG cargo hold with optimum levels of performance. The product is SOLIDUS, the cargo hold system with the lowest naturally veporized LNG ratio compared to the ratio of the existing LNG cargo holds, and by gaining the General Approval for the LNG carriers and LNG cargo from Lloyd’s of London, its technology achieved prestigious recognition. With this achievement, Daewoo Shipbuilding & Marine Engineering are n...

2017-12-14
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Korean Shipbuilding Industry Reclaims the World's Top Position in New Contracts in Five Years

The Korean shipbuilding industry, which once ruled the global shipbuilding industry for decades, has reclaimed the world’s top position in terms of new contracts for the first time in five years. The industry explains that it is the result of the domestic shipbuilders’ desperate efforts to win global competition for new contracts. Most notably, the so-called ‘Big Three’ of the Korean shipbuilding industry including Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding...

2017-08-28
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Both Port Calls and Freight Volumes Increased in Busan Port After One Year of Preemptive Response to the Panama Canal Expansion

Photo Source: Getty Images Bank The expanded Panama Canal opened in June 2016. For one year, cargo traffic between Busan and major ports on the US east coast increased by 7.6% with the transshipment volume jumping by 11.1%. Most notably, the number of services using the Busan Port as a transshipment hub between Asia and the US east coast increased by 13 during the period to a total of 42. The achievement can be generally attributable to the efforts by the Busan Port Authority to...

2017-08-28
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14 Korean Container Shipping Companies form ‘Korea Shipping Partnership’

Photo Source: Korea Shipowner’s Association Korean shipping companies voluntarily formed a partnership to promote the future development and boost the external credibility of the Korean shipping industry. Launched on August 8, 2017, the Korea Shipping Partnership (KSP) is the first consortium of all 14 Korean container shipping companies. They have agreed to establish a cooperative relationship to jointly promote the following: ▲ Expand freight exchange ▲ Rationalize sea routes, ▲ J...

2017-08-28
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Rising Demand for Korean Shipbuilding and Plant Services That Have Reasonable Pricing and Excellent Performance

Photo Source: OGA 2017 Eight shipbuilding and offshore plant businesses based in Busan participated in ‘Oil and Gas Asia (OGA) 2017’ held in Kuala Lumpur, Malaysia from July 11 to 13, and made remarkable achievements including negotiations for a contract worth USD 5.629 million and discussions about the establishment of a joint venture. At the exhibition, an official of a Malaysian state-run company said, “We have used products made by other countries as an alternative to ...

2017-08-28
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Samsung Heavy wins KRW 2.8 tn FLNG order

Samsung Heavy wins KRW 2.8 tn FLNG order-FLNG contract awarded from Italy's ENI-Consortium with Technip-JGC, 2.8 tn for Samsung portionSamsung Heavy Industries Co., Ltd.("SHI") concluded a 2.8 trillion Korean Won contract to build a giant offshore production unit.SHI revealed on 2nd a contract award to build a FLNG(Floating LNG production facility) for Italian oil major ENI's Coral development in Mozambique.The gigantic FLNG boasts length of 439m, width of 65m, depth of 38.5m, and weighs 210,...

2017-08-03
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Korean Register authorized as verification body for EU MRV

Korean Register (KR) - an IACS member classification society - has announced that it is now authorized by Germany’s National Accreditation Body (DAkks) to act as a verification body for EU MRV (Monitoring, Reporting, Verification). EU MRV refers to regulation (EU) 2015/757 and covers the monitoring, reporting and verification of carbon dioxide (CO2) emissions from ships above 5,000 gross tonnage that are calling at any EU or EEA (Norway/Iceland) port. The regulation requires shipping co...

2017-08-03
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A 'love call' from UK Lloyd's Register for new marine equipment technology

- LNG Engineering Organization agrees on joint development of small-scale LNG carriers with Lloyd's Register, the world's top classification society. Small and middle sized marine equipment enterprises made a joint technology agreement about LNG carriers with Lloyd's Register, the world's top classification society based in the United Kingdom. At Gastech 2017 held on April 5th in Tokyo, Japan, LNG Engineering Organization entered into an agreement for joint development of the ...

2017-08-03
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HMD signed 1 LNG bunkering vessel to build

Hyundai Mipo Dockyard(HMD) has successfully won two LNG bunkering vessels (including option for one vessel)with German owner. Recently, it announced that it has won one 7500㎥-class LNG bunkering vessel with Bernard Schulte. The ship, which is 117 meters long, 20 meters wide and 10.3 meters tall, will be delivered in the second half of the year to deliver LNG to LNG tankers. HMD expected to expect additional contracts for the next few weeks. ...

2016-12-12
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Dongnam Marine Crane won the top $ 100 million worth of exports this year.

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Dongnam Marine Crane (DMC) announced on 7th December that it received a $ 100 million worth of exports at the 53rd trading day of the 53rd trading day in COEX, Gangnam-gu, Seoul. The Korea International Trade Association (KITA) annually selects the top exporting business by selecting a company that has contributed to the expansion of foreign trade and increased export growth. Last year, the company recorded $ 10 million in exports of $ 10 million in exports, $ 10 million in 2009, a...

2016-12-12
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2016 Mac-Net Conference held

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The industry, schools, research institutes and government organizations have gathered to foster sustainable development and co-existence among the nation's maritime industries. On June 16, Mac-Net held a joint meeting with KSOE and KOMEA at Grand Hotel in Busan. There were Mac-Net Conference, KOMEA forum and celebrating the eve of the 30th anniversary of KSOE. About 170 civic groups, including shipbuilding, shipping and machinery, gathered together to join forces and gather wisdom to ov...

2016-12-12
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KR hosts Technical Expert Committee 2016

KR held a Technical Expert Committee on 18th October at KR’s Headquarters in Busan. Within the society, classification technology is categorized into six sectors which are: ship safety, hull, offshore structures, special purpose ships, electricity and metal. At the seminar, representatives from each area took part in a review to examine whether KR’s current classification rules needed amending or whether new ones should be established. This year’s meeting was ...

2016-12-12
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KR ranked in no. 1 in the KOSHIPA evaluation of classification technical services 2016

KR was ranked in no. 1 in the KOSHIPA (Korea Shipbuilders’ Association) evaluation of classification technical services among world’s leading classification societies. The assessment is undertaken annually and compares and evaluates the technical services provided by the members of the International Association of Classification Societies (IACS. KR was ranked as no. 1 in 2011 and 2013 and secured 2nd place in 2012. KR will continuously endeavor to deliver top qual...

2016-12-12
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Hyundai Heavy Industries and National Grid SA of Saudi Arabia Sign MOU for Comprehensive Cooperation for Heavy Electric Equipment Business.

Hyundai Heavy Industries and National Grid SA of Saudi Arabia Sign MOU for Comprehensive Cooperation for Heavy Electric Equipment Business. Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and a leading electro electric equipment manufacturer announced today it signed an MOU with National Grid SA for a comprehensive cooperation for heavy electro electric equipment business. Under the MOU, HHI and National Grid SA will join forces to work for the standardization ...

2016-10-25
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Busan Port’s Cargo Volume Turns Upbeat in July by 5.5% YoY

BPA announced on 19 September that the downturn of container cargo volume at Busan Port started to turn around in July. According to the data released by BPA on the 22nd, Busan Port handled 1.697 million TEU, a 5.5% increase YoY(1.609 Mil.) in July. It has been four months since the cargo volume at Busan Port increased in February(1.8% increase). The cargo volume decrease is as follows; January(-1.6%), March(-2.9%), April(-5.2%), May(-1.0) and remained the same level in ...

2016-10-04
Admin
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Techcross Contracts 2 Tankers to Install their BWMSs

Techcross announced on 8 September that Turkish ship owner chose Techcross’ ECS (Electro-CleenTM System) for their two 158K Suezmax COTs (Crude Oil Tanker). The ballast pump capacity of these two vessels, built in Hyundai Samho Heavy Industries Co., Ltd., are 2000㎥/h x 2sets and 250㎥/h x 1set. Through this contract, it is expected that Ex-ECS 2000B x 2 sets and ECS 300B x 1set will be delivered by the end of February, 2017. These vessels have similar design with a 158K Tanker of Gree...

2016-10-04
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DSME solved the liquidity crisis by receiving early payment of shipbuilding cost

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Daewoo Shipbuilding & Marine Engineering (DSME) announced on 19 September that it received the shipbuilding payment earlier and make efforts to normalization of the business. DSME said that it would receive its shipbuilding payment worth KRW 600 billion in advance from 4 shipowners. Also, DSME is delivering a large container ship 20 days earlier than the contract, which was originally expected to deliver 30th Sep. As the result of delivery, it received payment worth USD 95 million. &nb...

2016-10-04
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Hyundai Heavy Industries Receives 2nd AIP for SkyBenchTM, Innovative Design Concept for Maximizing Cargo Loading Capacity

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Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, announced on 9 September that it received the second approval in principle (AIP) from DNV GL for SkyBenchTM, an innovative design for maximizing cargo loading capacity of large containerships at the SMM exhibition in Hamburg, Germany. The classification society verifies the strength and structural analysis including the overall finite element analysis conforming to S11A rule, a partial ship analysis, an overall hatch corn...

2016-10-04
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DSME to deliver the 10th drillship

[Photo by Daewoo Shipbuilding & Marine Engineering] Daewoo shipbuilding & Marine Engineering announced on 23 Aug. that it delivered a drillship to the world’s largest offshore drillship company, Transocean successfully. The building contract for the drillship was signed in 2013 to amount to USD 600M. The specification of the drillship is allegedly DSME-1200 that was developed by DSME itself and it is the biggest one among the drillships built by DSME. It has 238m in leng...

2016-09-28
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KR designated as inspection body for carriage of dangerous goods for U.S. export

KR has secured the authorization to survey the transport of dangerous goods for U. S. export. KR has been successfully designated as an Independent Inspection Agency (IIA) and Designated Approval Agency (DAA) by the U S Department of Transportation (US DOT). With this authorization, KR is allowed to inspect and certify UN standard pressure equipments, Portable Tanks and Multiple Element Gas Containers (MEGC) on behalf of the U. S. Department of Transportation for the carriag...

2016-09-27
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KR works with Vietnam Register on mutual technology cooperation

KR has presented the Vietnam Register (VR) with SeaTrust-HullScan (the software solution developed by KR to analyze and appraise a hull structures for drybulk carriers and tankers) at a formal ceremony attended by delegations from both sides, including KR’s Chairman and CEO, Dr. B. S. Park and Mr. Tran Ky hinh, General Director, VR in Hanoi, Vietnam, on 17 August, 2016. Both parties took the opportunity to confirm the positive relationship based on trust and mutual technical cooperatio...

2016-09-27
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Samkang M&T won another deal for manufacturing blocks

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Samkang M&T has agreed to provide blocks for LNG carriers built at Mitsubishi Shipyard, which is third followed by on March and May. The amount of the deal is about USD 3 Mil. and the blocks will be delivered by the end of December 2016. The accumulated contract amount with MHI reaches USD 8 Mil. A representative from Samkang M&T said, “This representative shipyard in Japan has many orders to built LNGC and LPGC so that there are many chances to cooperate w...

2016-08-26
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HHI signs LOI with a Greek ship owner

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It is said that Hyundai Heavy Industries inked a LOI with Victor Restis for building Suezmax tankers recently. However, The Greek ship owner did not decide where to build Suezmanx tankers yet. According to TradeWinds, Victor Restis from Enterprises Shipping and Trading(EST) is ready for building two Suezmax amounting to USD 110M in total. After withdrawing itself from the Suezmax market in the beginning of 2014, EST is going to return ...

2016-08-26
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SHI looks a building contract of LNGC with GAIL

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Samsung Heavy Industries (SHI) is going to win the first deal in this year. Currently, Japanese shipowners have been discussing long-term chartering business of LNGC with GAIL, Indian National Gas Corporation. After finalizing the deal, SHI will win building orders of 6+2 LNGCS. According to the related sources, the talks on chartering of 174,000 cbm class-LNGCs are almost finalized among MOL-NYK-Mitsui& Co. consortium, K Line-Mitsubishi-Foresight Gr...

2016-08-26
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Samkang M&T won three chemical tankers newbuilding order

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Samkang M&T, a listed company in Korea announced 11th Aug that it signed a newbuilding contract of three chemical tankers amounting to USD 50 Mil. with a Korean chemical shipping company, Woomin shipping. It is the first time to won a newbuilding order for Samkang M&T. Meanwhile, the listed manufacturer has built mega-blocks and tera-blocks for ships and offshore plants. The first newbuilding order is expected to help Samkang M&T expand its business scope. The ves...

2016-08-26
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Korean Register leads testing technology for BWMS

KR has significantly expanded its land-based test facilities for Ballast Water Management System (BWMS) by opening a brand new specialist facility. KR has been conducting type approval testing of BWMS since 2004, with a consortium of six different partners. KR and its partners segregate the duties, taking into account each organization’s specialist expertise. This range of expert knowledge and high quality services was recognized when KR was accepted as the first Independent...

2016-08-24
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KP&I to hold hands with Standard P&I

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KP&I to hold hands with Standard P&I The Korea P&I Club and Standard P&I agreed to cooperate to work together. Both clubs had a signing contract ceremony of collaboration MOU on 3rd Aug in Singapore. KP&I expects this partnership will help its business scope enlarged remarkably. Mr. Moon, Byung-il, the COO of KP&I said that this MOU is very meaningful for KP&I, because it means Standard P&I considers KP&I as its partner. And he also said that it is possible f...

2016-08-12
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KR authorized to make inspection of DOT cylinders for flammable and poisonous materials for export

KR authorized to make inspection of DOT cylinders for flammable and poisonous materials for export Korean Register of Shipping (KR) announced on 7th that it has been appointed as an Independent Inspection Agency (IIA) and a Designated Approval Agency (DAA) for the inspection of cylinders for flammable and poisonous materials by the U.S. Department of Transportation (U.S. DOT). This designation allows KR to make inspection and approval for UN High Pressure Con...

2016-08-12
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DSME won two VLCCs newbuilding order

DSME won two VLCCs newbuilding order Daewoo Shipbuilding & Marine Engineering announced on 1st Aug that it signed the newbuilding contract of two VLCCs with BW Group from Singapore. The signing contract ceremony was held on 29th July in Singapore, where Mr. Jung, Sung-lip, CEO of DSME and Mr. Carsten Mortensen, CEO of BW Group were attended. The 318,000 dwt VLCCs is expected to be built at Okpo shipyard and delivered in 2018. M...

2016-08-11
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KR boosts operational efficiency through containership conversion

KR has successfully completed a feasibility study for the conversion of an 8,600 teu containership into a 10,000 teu vessel for one of its customers. This new capacity specification was developed in response to a shipping company’s desire to adapt to recent shipping environment changes and to improve operational efficiency. In recent years a change in the optimal size of vessels and a deterioration in the operational efficiency of existing ships, has led to newbuilding orders or ...

2016-08-11
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Hyundai Merchant Marine signed an agreement for its business normalization plan.

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Hyundai Merchant Marine announced on 21st July that it signed an agreement with its creditors to proceed with its business normalization plan. According to this agreement, one of HMM’s creditor banks, the Korea Development Bank became the largest shareholder of HMM following a debt-for-equity swap. As a result, HMM this month issued 280 million new shares at $8.23 each. The share were given to shareholders, creditors, bondholders and shipowners in a debt-to-equi...

2016-08-04
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BPA held the 1st Maritime Port Administration Council 2016

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BPA announced that it held ‘The 1st Maritime Port Administration Council 2016’ to Enhance Competitiveness of Busan Port with Various Ideas and Solutions. Busan Port Authority(BPA, President WOO Ye-jong) co-hosted the first Maritime Port Administration Council 2016 with Busan Regional Office of Oceans and Fisheries and Busan Metropolitan City on the 12th. Busan Regional Office of Oceans and Fisheries discussed seven agendas including △ facility relocation for Haeundae...

2016-08-04
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Dr. Park, chairman of Mac-Net delivers key note speech at conference on OMAE 2016

On 21 June, Dr. B. S. Park, Chairman and CEO of KR and Mac-Net delivered a keynote speech entitled “Green Wave Challenges or Opportunities for the maritime industry” at the International Conference on Ocean, Offshore and Arctic Engineering 2016 (OMAE 2016) Dr. Park said that recent environmental regulations affecting the maritime industry could provide good opportunities for shipbuilders, shipping companies and manufacturers. OMAE is a prominent international conference in th...

2016-08-04
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Mr. Ko Bong-chan, elected as Chairman of Environment Panel of IACS

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Mr. Ko Bong-chan, principal surveyor of KR has been elected as chairman of the Environment Panel at the 73th International Association of Classification Societies (IACS) council which was held in Washington, U.S. on 23 June. His election was attributed to his active participation in decision making and his technical contribution regarding the prevention of marine pollution. In 2013, Mr. Oh Joo-won (Head of Plan Approval Dept. at the time of 2013) was elected as chairman of Machin...

2016-08-04
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Final approval application submitted for ECS-HYCHEM System of Techcross

To achieve IMO final approval for ECS-HYCHEMTM, one of the TECHCROSS’ new systems, Techcross submitted all the relevant documents to IMO GESAMP last May. ECS-HYCHEMTM System is designed to treat ballast water using filtration and a chemical disinfectant called NaDCC. The system is expected to attract the owners who have existing vessels with limited space to accommodate BWTS as it has an advantage thanks to its compact size. Besides, ECS-HYCHLORTM System, another new system with indire...

2016-07-28
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2011

Hyundai Heavy Industries Wins Logistics Support Vessel Order for New Zealand's Maritime Sustainment Capability Project

Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, announced today it won an order to build a 23,000 ton class logistics support vessel for New Zealand Defence Force’s Maritime Sustainment Capability (MSC) project. HHI was selected as a preferred bidder in December 2015. HHI will deliver the logistics support vessel to New Zealand by the end of 2019. Under the MSC project, the Royal New Zealand Navy (RNZN) plans to replace its replenishment tanker HMNZS Endeavour to main...

2016-07-28
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Hyundai Heavy Industries Wins $101.6 Million Order to Supply Two Vacuum Vessel Sectors for ITER

Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and a leading industrial plant EPC contractor, today announced that it won $101.6 million worth of order to supply two vacuum vessel sectors (No.7, 8) for ITER (International Thermonuclear Experimental Reactor). This is an additional order to the one HHI received from the international body in 2010 to build two vacuum vessel sectors (No.1 and 6) and 35 ports out of 53. HHI is scheduled to deliver the two vacuum sectors mea...

2016-07-28
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Part of Busan North Port container terminal will be reconfigured to a cruise terminal.

Part of Busan North Port container terminal will be reconfigured to a cruise terminal. BPA stated on the 12th at the that Gamman Container Terminal or the New Gamman Container Terminal will be reconfigured to a cruise terminal after integrating the North Port Container operators. MOF and BPA plan to complete the integration of 4 container terminal operators by August, which have suffered decreases in cargo volume since the opening of Busan New Port, including Jaseongdae, New Gam...

2016-07-28
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SHI won an order to build two offshore platforms from Norway-based Statoil

SHI won an order to build two offshore platforms from Norway-based Statoil Contract covers 46,000 tons of oil production facilities, including the process platform and riser platform SHI announced on the 30th June that it had signed a deal with Statoil worth about USD 1.17 trillion to build two offshore platforms. Under the deal, SHI will provide the two offshore platforms to be deployed at the oil field Johan Sverdrup located 140km off Stavanger, a port city in ...

2016-07-28
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Hyundai Heavy Industries Delivers the World’s Largest Semi-Submersible Drilling Rig for Diamond Offshore

Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and a leading offshore facilities manufacturer, today announced it delivered Ocean Greatwhite, the world’s largest semi-submersible drilling rig, to Diamond Offshore, a Houston-based drilling contractor on July 15. The delivery installment worth 460 billion won ($395 million) HHI received from the client will help improve HHI’s cash flow. Ocean Greatwhite, measuring 123 m in length and 78 m in width, is capable of operat...

2016-07-21
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Hyundai Merchant Marine finally joins 2M

Last month Hyundai Merchant Marine (HMM) announced that it has commenced a discussion for joining the 2M VSA formed by Maersk Line and Mediterranean Shipping Co.(MSC). A spokesperson from HMM said, “The 2M carriers and HMM are ideal partners as we can work together in order to create a great synergy for the alliance by supplementing each company’s operation.” And finally, since today Korea's Hyundai Merchant Marine (HMM) has succeeded in joining the wo...

2016-07-21
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Hanjin, Hapag-Lloyd, “K”Line, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and Yang Ming to create a new partnership “THE Alliance”

Hanjin, Hapag-Lloyd, “K”Line, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and Yang Ming have agreed to create a new alliance covering all East-West trade lanes namely, Asia-Europe/ Mediterranean, Asia-North America West Coast, Asia-North America East Coast, Transatlantic and Asia-Middle East / Persian Gulf / Red Sea. A binding agreement has been concluded by all partners and “THE Alliance” is scheduled to begin operation in April 2017 subject to approval of all relevant regulatory authori...

2016-07-21
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KR ranked 5th on Paris MOU PSC performance list

The Paris Memorandum of Understanding (MOU) ranked DNV GL as the best-performing recognised organisation in 2015 in terms of its port-state-control (PSC) performance for the second year running. And KR was ranked shipping's fifth best performing recognised organisation(RO) last year. The Paris MOU hinted that the performance of recognised organisations in shipping is improving. According to the annual report of Paris MOU 2015, “Compared to last year’s performance lev...

2016-07-14
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HHI to supply LCD robots worth $40m

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Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and a leading industrial robot manufacturer, today announced it won $40 million worth of order to supply 309 units of LCD handling robots for Vibrant Display Technology (VDT), a Chinese affiliate of Chunghwa Picture Tubes (CPT), a Taiwan-based LCD panel provider. The 6th generation LCD handling robots capable of handling LCD panels measuring 1,850 mm by 1,500 mm will be supplied to the LCD panel fact...

2016-07-14
Admin
2016

Korean Government promised to support development of shipbuilding industries

Park Geun-Hye, Korean President held a meeting with business leaders and government officials to discuss how to shore up trade and investment. During the meeting, Park stressed voluntary restructuring of non-core sectors to three oversupply industries including steel, petrochemistry and shipbuilding through “one shot” business reinvigoration law which will be effective from August 13. The government promised to pushfully support development of core technologies for ...

2016-07-14
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2001

INTELLIAN selected as '‘WORLD CLASS 300’ company by Korean Government

Intellian’s appointment to Korea’s prestigious ‘World Class 300’ list of the country’s most promising technology companies is a distinguished achievement and confirms its commanding lead in the mobile satellite communications terminal sector. Intellian, the global leader in maritime satellite communication antenna systems is now a fully-fledged member of the exclusive “club” comprising a group of Korean corporates recognized as the best and brightest in creative innovation, outst...

2016-07-14
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Hyundai Mipo Dockyard delivered 900th ship

HMD reached a milestone when they delivered their 900th ship, which was completed 18 years after its first FPSO delivery in 1997. HMD held a delivery ceremony for the ship, named Mari Jone, a 50,000 DWT product carrier for Swedish company Marinvest on April 28. Mari Jone features the dual-fuel engine, which uses bunker C oil and methanol as fuel. HMD was first established in 1975 for ship repair but started building ships in the mid-1990s. They delivered their 500th ship in 201...

2016-07-14
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1998

Asia’s Largest Cruise Ship ‘Ovation of the Seas’ to Call at Busan Port

Busan Port Authority(BPA, President WOO Ye-jong) stated that Asia’s largest cruise ship, Ovation of the Seas, with 4,600 passengers and 1,600 crew will call at Busan Port for the first time on June 30th. Ovation of the Seas is a cruise ship operating for the world’s second largest cruise liner, Royal Caribbean International (RCI). It is the largest cruise ship in Asia(168,000t) equipped with 2,000 cabins and was built in April this year. Royal Caribbean International dep...

2016-07-14
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KR delivered bespoke technical seminars for clients

KR has delivered a range of bespoke practical client seminars which have focused on each customer’s vessel types. The seminars are one of a range of innovations introduced by the class society to help differentiate KR from its competitors by adding value to its clients’ business. At the request of shipyards and ship design companies in China, KR’s Dry Cargo Ship Team held a technical seminar on the technology of an Open Hatch Type Woodchip Carrier. The attendees discussed th...

2016-07-14
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KR opens its training center in Ningbo, China.

KR has opened a ‘KR China Training Center’ and held an official opening ceremony on 20 May 2016. The training center has been established to reinforce the regional survey competence by enhancing the surveyors’ capability for on-site survey implementation and for achieving survey skills. KR will provide its valued clients with improved survey services thereby increasing the safety of its classed ships and comprehensively meeting its customers’ needs. ...

2016-07-14
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WMU-KMI MoU and Seminar on IMO Member State Audit Scheme

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On 16 June, a Memorandum of Understanding (MoU) was signed between the President of WMU, Dr. Cleopatra Doumbia-Henry, and Dr. Sung-Gwi Kim, President of the Korean Maritime Institute (KMI). In the framework of this MoU, WMU and KMI will cooperate on research, share information, and organize joint seminars on mutually agreed maritime themes. The signing of the MoU was followed by the hosting of a WMU-KMI seminar on the IMO Member State Audit Scheme (IMSAS): Current Practices and F...

2016-07-07
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Hyundai Heavy Industries Brings Connectivity to Ships and Logistics

In the Era of the Internet of ThingsThe general idea of the increasingly familiar term IoT (Internet of Things) refers to the wireless network of physical things ? objects, devices, buildings ? consisting of installed sensors, electronics, software, and network connectivity enabling these ‘things’ to collect and exchange data. The industry trend started from consumer products such as home appliances and automatic light bulbs, and now the business-to-business world is also moving aggressivel...

2016-07-07
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Hyundai Heavy Industries Produces 1,500th ACONIS for Ships

Hyundai Heavy Industries (HHI), a leading electro electric equipment manufacturer, announced on May 2, it achieved an accumulated production of 1,500 ship sets of ACONIS (Automation Communication & Navigation Information Solution). ACONIS refers to an integrated ship automation system that HHI developed in 1993 for the first time among Korean companies. The system can remotely measure pressure and temperatures of major machinery and the level of fuel and ballast water in ships, an...

2016-07-07
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'Seatrade Cruise Asia 2016' to be Held in Busan

The largest cruise exhibition in Asia will take place in Busan. Busan Metropolitan City stated on the 3rd that “Seatrade Cruise Asia 2016” will be co-hosted by Busan Port Authority(BPA) and Korea Tourism Organization from 12 to 14 May at the Busan Port International Passenger Terminal in Busan. Major shipping lines and tour agencies from 27 countries including Cruise Line International Association(CLIA), Costa Cruise, Royal Caribbean and Holland Americ...

2016-07-07
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1954

3 Foreign Cruise Lines Entered Busan Port Simultaneously

For the first time this year, three foreign cruise liners entered Busan Port. Busan Port Authority stated that Costa Serena (114,000 ton), Italian cruise line, entered Busan Gamman Pier on the 2nd with 3,700 Chinese tourists. In addition, M.V, Soleal (19,000 ton), French cruise line, and Diamond Princess (1.155 million ton), British cruise line also called at Busan. Soleal entered at Busan Port International Passenger Terminal with 220 tourists and Princess called at Youngdo In...

2016-07-07
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Korean Register to deliver statutory services in India

KR has announced that it has signed an agreement with the Directorate General of Shipping (DGS) to deliver services on behalf of the Indian flag administration, carrying out vessel surveys and issuing certificates according to international conventions. KR is now able to conduct relevant surveys and audits and to issue certificates to Indian flagged ships for SOLAS, MARPOL, ITC, ICLL, and MLC. India's maritime industry has strong potential for growth because of its geogra...

2016-07-07
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Korean Register to deliver plant certification, engineering services and ship surveys in Iran

KR has signed a Memorandum of Agreement to establish a joint venture company with the Iranian Classification Society (ICS). The agreement is to deliver plant facility certification and engineering services. The company will be called the ‘Iran-Korea Technology Assurance Company’, with 50-50 capital investment from KR and ICS. It will be fully operational in 2017. The agreement is to deliver plant facility certification and engineering services. This is a growing market,...

2016-07-07
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25th Annual General Meeting of the Asian Shipowners' Association

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The 25th Annunal General Meeting (AGM) of the Asian Shipowners' Association (ASA) was held in Shanghai on 19th May 2016. More than 170 delegates from 15 Asian countries attended the AGM. On behalf of the Korean ocean-going shipping industry, Mr Youn-Jae LEE, Chairman of the Korea Shipowner' Association and Mr Young-Moo KIM, Executive Vice Chairman attended the AGM and exchanged views on the international maritime issues. During the meeting, it was announced that ASF will ...

2016-07-07
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Hyundai Heavy Industries Returns to Profits in 10 Quarters

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Hyundai Heavy Industries (HHI) issued a public disclosure of its 1Q 2016 consolidated earnings today. According to a regulatory filing, HHI racked up 10.2728 trillion Korean won (hereafter the “won”) in sales, a 7.8 % decline from the previous quarter while operating income swung to a profit of 325.2 billion won, putting an end to a nine-quarter losing streak. An HHI officer said, “For 1Q 2016, we have returned to the black mainly due to the following reasons; the phase-out ...

2016-04-29
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1976

The 2nd Korea Maritime Safety EXPO has held

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The 2nd Korea Maritime Safety EXPO has held at BEXCO in Busan from the 26th to the 29th of April, 2016. Due to many tragic maritime accidents in 2014 such as Sewol Ferry and 501 Fishing Vessel, People’s needs on reinforcement of maritime safety have been greatly increased. In order to meet these needs and reduce their anxiety, Ministry of Oceans and Fisheries and Busan Metropolitan City will host Korea Maritime Safety Expo. By holding Korea Maritim...

2016-04-29
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BPA Releases App for Cruise Tourists

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Busan Port Authority(BPA, President WOO Ye-jong) held a final briefing session on the 31st to introduce its own app ‘Dolbu’ which was created to provide tour information for cruise tourists. Dolbu App will provide vessels’ port entry q-and departure information, gift purchase information, q-and various tour information regarding tourist attractions, famous restaurants, shopping areas, q-and medical treatment. The app will be available in 4 languages; Korean, Chinese, Japanes...

2016-04-29
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MS Artania Cruise to Enter Busan Port

MS Artania Cruise to Enter Busan Port Busan Port Authority(BPA, President WOO Ye-jong) said on the 18th that a 44 thousand ton European cruise vessel, MS Artania(registered in Bermuda), is scheduled to enter Busan International Passenger Terminal with 980 passengers on the 20th. MS Artania will depart Vladivostok, Russia on the 17th and enter Busan Port on the 20th. The passengers will leave on the same day after touring Jagalchi, Mt. Yongdu Park, Boemeo Temple, and Gyeongju. M...

2016-04-29
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BPA Holds 2nd Conference to Enhance Competitiveness of Busan Port

BPA Holds 2nd Conference to Enhance Competitiveness of Busan Port KMI Researcher KIM Gun-seop Delivers Presentation Busan Port Authority(BPA, President WOO Ye-jong) held the '2nd Conference to Enhance Competitiveness of Busan Port' on the 4th at Busan Port International Passenger Terminal. At the conference, researcher KIM Gun-seop at Korea Maritime Institute(KMI) gave a presentation on 'Development Perspective of Busan Port & role of BPA.' Contact: Planning & Cordinatng team,...

2016-04-29
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Bespoke Technical Seminars for Clients

KR has delivered a range of bespoke practical client seminars which have focused on each customers’ vessel types. The seminars are one of a range of innovations introduced by the class society to help differentiate KR from its competitors by adding value to its clients’ businesTechnical services on EEDI model test and seminar At the request of an oil/chemical tanker owner, KR’s Ningbo office has provided technical assistance for a model test. The oil/chemical tanke...

2016-04-29
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KR is Authorized by Turkish Government

KR signed an agreement giving it authorization to carry out International Ship and Port Facility Security (ISPS) Code related surveys on behalf of the Turkish administration, on 8th March 2016. Following its full authorization to deliver statutory services on behalf of the Turkish government, KR is now working to secure authorization to implement audits on specific conventions such as ISPS and Maritime Labor Convention (MLC). With this authorization, KR can now perform ISPS rel...

2016-04-29
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KR Classed Iranian Ship Calls at Korea for the First Time Since Sanctions Lifted

Islamic Republic of Iran Shipping Lines (IRISL) has made its first ship call to Korea. Its cargo ship, ABBA which entered Masan port on 28 March, is classed with Korean Register. ABBA is the first Iran-flagged ship to have made a ship call to Korea, since the lifting of the sanctions. To celebrate its arrival in a Korean port, KR held a welcome ceremony for the vessel. Many guests attended and celebrated the occasion including Mr. Choi Young Soon, director of Port Logistics Divis...

2016-04-29
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Nautical novelties at Korea's biggest boat show

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All things aquatic moored at BEXCO March 10 to 13. The nation's favorite boat festival sets sail for the third time this year. Busan City has partnered with the Ministry of Oceans and Fisheries to host the Busan International Boat Show at BEXCO and Suyeong Bay Yachting Center for four days between March 10 and 13. The boat show exhibits everything related to marine leisure, from the most advanced yacht engines and accessories to cutting edge nautical technology. Eager sea...

2016-03-16
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HSHI Adopts Tera Block Construction Method

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Hyundai Samho Heavy Industries (HSHI) recently announced that it adopted the "tera block construction method." Tera blocks refer to shipbuilding blocks that weigh over 6,000 tons apiece. The company claims that as bigger blocks lead to shorter assembly lines, this method can contribute to productivity gains. Of note, the tera block recently made by HSHI is by far the largest single block in the world, constituting one fourth of a 15,000 TEU containership. It weighs 10,000 tons a p...

2016-03-16
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HMM Starts A Korea-Cambodia Direct Service

Hyundai Merchant Marine (HMM) announced on 8th march that it is to launch a new Korea-Vietnam-Cambodia direct service and to enhance its market power in the intra-Asia. HMM brands the service 'CTX(China-Thailand-Express)'. The CTX service calls at Tianjin, Busan, Gwangyang, Shanghai, Hochiminh, Sihanoukville, Laem Chabang, and Manila. It turns 3 weeks using four 2,200 teu container vessels: Hyundai Bridge, Hyundai Future, Hyundai Highway, Hyundai Vladivostok. Hyundai Vladivost...

2016-03-09
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3752

DSME Starts Statoil Quality Incentive Program

DSME announced March 6 that it starts Quality incentive program with Statoil. Statoil is running a quality incentive program to improve project completeness. Statoil presented the first Quality Award for the Mariner and Gina Krog projects at Daemyung Resort on the 25th of February. Most incentive programs are focused on overall HSE performance for each project. However, this ceremony, hosted by the project owner, was dedicated to presenting a quality award specifically for D...

2016-03-07
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Hyundai Heavy Industries Joins Industry Leaders in Growing California’s Solar Industry

Hyundai Heavy Industries(HHI) announced on March 7 that it joined Industry Leaders in Growing California’s Solar Industry. Hyundai Heavy Industries (HHI) has become the newest member of the nation’s largest state solar power trade association, the California Solar Energy Industries Association (CALSEIA). “We are proud to have HHI join CALSEIA to support its mission of expanding the use of clean, solar technologies throughout the state. CALSEIA members are recognized as being...

2016-03-07
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HHI produces 10,000th HiMSEN Engine

Hyundai Heavy Industries(HHI) announced on March 3 that it produced 10,000th HiMSEN (Hi-Touch Marine and Stationary Engine) engine. HHI, the world’s largest shipbuilder and a leading marine engine manufacturer announced today it produced 10,000th HiMSEN (Hi-Touch Marine and Stationary Engine) engine installed on a 14,400 TEU containership ordered from Costamare, Greece. The HiMSEN engines are medium speed 4-stroke engines that HHI independently developed in 2001...

2016-03-04
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Green-ship Test & Certification Center (TCC) launches services for medium to small engines and equipment

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KR has established a test and certification center specifically for medium to small sized vessel engines and equipment, which is the first of its kind in Korea. KR devoted itself to the development of green-ship equipment technology by setting up its large-sized TCC in May 2015, and through the signing a series of Memorandum of Understanding (MOU) with marine equipment manufacturers to carry out technology research. The large-sized TCC was the very first of its ...

2016-03-04
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Dr.B.S.Park elected Chairman of the Association of Asian Classification Societies

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The Association of Asian Classification Societies (ACS) held its 23rd Annual Executive Committee meeting in Bali, Indonesia on 29~30 October 2015. At that meeting, the ACS members unanimously elected Dr. Park, Chairman and CEO of KR, to be the Chairman of ACS for 2016. In his acceptance speech, Dr. Park praised ACS’s solid organization and management which has been a focus since the society’s launch in 2010. Looking ahead to 2016, the society will strength...

2016-03-03
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Busan Port Emerges as Cruise Ship Home Port

The First Cruise Ship with Chinese Passengers Calls at Busan Port as its Home PortBusan Port Authority(BPA, President WOO Ye-jong) stated on the 8th that Busan Port became the first home port of the cruise ship, Skysea Golden Era, since the opening of the International Passenger Terminal.1,800 chinese tourists will disembark q-from Skysea Golden Era, a 72 thousq-and ton cruise ship registered in Malta, at Donghae Port Gangwon-do on the 7th q-and 700 Korean tourists will board the ship. The cruis...

2016-01-19
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2016 KSA Annual General Meeting

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Greetings from the Korea Shipowners' Association (KSA)At the KSA Annual General Meeting on 14 January 2016, Mr Youn-Jae LEE was re-elected as KSA Chairman for a three year term (2016-2019).At the meeting, the following Vice Chairman and Director were newly elected:- Vice ChairmanMr Wan Jung KIM, CEO & Chairman of "POLARIS SHIPPING"- DirectorMr Brian CHO, President of "Five Ocean Corporation"Furthermore, the following high-level managements of the KSA Secretariat were appointed:- Executive Vice C...

2016-01-15
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The World's Third Largest T/S Port, Busan Port, Breaks Own Record

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Achievement of Busan Port in 2015Busan Port is situated in Busan, Korea. Busan Port contributed greatly to the national economy by connecting Korea with a number of nations in the world when the government carried out active industrialization through export-driven policies. The port achieved new records in 2015.Last year, Busan Port processed approximately 19.45 million containers, falling 50 thousq-q-and containers short of its goal of hq-q-andling 19.5 million cargos due to the slowdown of glo...

2016-01-14
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Cargo Volume at Busan Port Increases for 10 Months Consecutively Despite the Global Economic Recession

Monthly T/S Container Cargo handling at Busan Port Hits Record of 0.868 Mil. TEU; Cargo Volume in Oct. Overtaking That of Hong Kong Port for the Third Time Following Feb and March. Busan Port Authority(BPA, President WOO Ye-jong) stated that Busan Port handled 16.255 million containers from Jan. to Oct. this year and saw a 4.8% increase YoY to 0.744 million TEU. Notably, the transshipment cargo volume at Busan Port in Oct. broke the previous record by processing 0.868 million containers after...

2015-12-20
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Passengers at Busan Port Int'l Passenger Terminal to Top 1 Million

The number of passengers on at Busan Port International Passenger Terminal, which was opened on Aug. 31st, is expected to exceed 1 million this year, according to Busan Port Authority(BPA, President WOO Ye-jong) on the 2nd.A total of 932,957 tourists, a 13.94% increase YoY, travelled through the terminal q-from January to October 2015. If it continues to grow, the number of passengers is expected to be 1.06 million by the end of this year.The number of tourists on cruise has decreased since 2013...

2015-12-15
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Korea Eximbank commits financing in PF for Mersey Gateway Bridge Building Project in UK

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The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Lee Duk-Hoon, "Korea Eximbank") announced on November 30 that the bank will provide financing to 'Mesey Gateway Bridge Building Project' in UK awarded to Samsung C&T.The Mesey Gateway Project, aimed at building a 2.13km-long cable-stayed bridge* and bridge approaches, amounts to 600 million pounds.Samsung C&T(33.3 percent share or 150 million pounds) formed a consortium for design and construction with a British construction company,...

2015-12-08
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BPA Issues Korean-English Bill for Port Facility Charges - First Port in Korea

To Provide Improved Global Service of Busan Port for Foreign Shipping CompaniesBusan Port Authority (BPA President WOO Ye-jong) became the first port in the nation to issue "Korean-English Bills for Port Facility Charges."The world's 6th largest port, Busan Port, is the port of call for 30 global shipping companies. However, foreign shipping companies that did not have branch offices in Korea use local agencies when calling at Busan Port. These agencies had to translate the port facility charge ...

2015-12-07
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BPA to Strengthen Safety Network to Prevent Traffic Accidents on Busan New Port Road

To Strengthen Traffic Safety by Installing CCTV with Innovative Technology Through Public & Private CooperationBusan Port Authority(BPA, President WOO Ye-jong) stated that low cost and high quality "Video image vehicle detector type CCTVs" will be installed in order to prevent traffic accidents on the road adjacent to Busan New Port.30,000 or more vehicles a day are currently using the road to Busan New Port, which opened in 2006, and the number of vehicles is growing. 8 deaths, 54 major acciden...

2015-11-30
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K-sure extends USD 620 million export credit to DSME for a giant drilling facility project in Africa

Korea Trade Insurance Corporation (president Kim Young-hak, www.ksure.or.kr, K-sure) extends a "huge export credit backing", taking lead to help the shipbuilding industry escape the current slump, secure growth engines in emerging markets, and support trade expansion. K-sure announced on November 29th, 2015 that it is offering USD 620 million in export credit for a giant drilling facilities building project by Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME).The project contract volume e...

2015-11-29
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Maritime Cluster Networking in Korea (Mac-Net Korea) begins

The Korean Register of Shipping (KR) made much efforts to foster cooperation and networking across the maritime industries for sustainable development and advancement. KR and 23 organizations in maritime industries entered into an agreement of Maritime Cluster Networking (Mac-Net) on November 24 at APEC House, Busan, Korea.Mac-Net consists of 24 organizations & institutions such as Busan Metropolitan City, Korean Register (KR), Korea Shipowners' Association (KSA), Korea Offshore ...

2015-11-24
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