According to a June 18 report from Reuters, the United States is monitoring a North Korean ship for weapons and has deployed anti-missile assets to the Pacific in case Pyongyang launches more missiles, U.S. officials said. The U.S. Navy is monitoring a vessel called Kang Nam at sea under new U.N. sanctions that bar North Korea from exporting weapons, including missile parts and nuclear materials, they said. (Source: Reuters)
Ninety North Korean vessels were granted certificates to enter Japanese ports in the eight months since a new law that bans entry of any ship without insurance took effect, according to a Daily Yomiuri report. The law on liability for oil pollution damage, which came into force on March 1, requires vessels of 100 tons or larger to be insured before docking in Japan. It had been viewed as a de facto economic sanction
According to the Washington Post, Pirates captured a South Korean-flagged fishing vessel off the coast of Somalia on Tuesday and efforts by a U.S. Navy ship and a Dutch vessel to intervene were abandoned when members of the South Korean crew were threatened with guns and the ship slipped into Somali territorial waters, the Navy said. It was the latest in a series of incidents off the coast of Somalia. On March 18, two U.S
Combined orders received by South Korean shipbuilders totaled 12.72 million gt for 227 ships in 1999, up 127.2 percent from a year earlier, according to the Korea Shipbuilders' Association said. New orders received in December alone totaled 3.71 million GT for 66 ships, the association said in a statement. Ships completed in 1999 amounted to 9.48 million gt for 163 ships, up from 7.28 million gt for 143 ships a year earlier, it said
European Union (EU) and South Korean officials meet next week to try to settle a row over alleged subsidies to Korean shipyards and avert an EU threat to take the dispute to the World Trade Organization. Negotiators meet in Brussels on Monday and Tuesday. It could be the last chance for an amicable solution of the row over the EU's allegations that Seoul pays its shipbuilders illegal subsidies, subsidies which it says threaten the existence of European competitors
South Korea’s major shipping companies benefited in 1999 from freight rate hikes and lower foreign debt service costs resulting from the won’s surge against the dollar, analysts said. However, they said, expectations of rising shipping capacity following more deliveries of new ships would weigh down the growth of revenues for shipping firms this year. Container shipping rates rose about six percent on average last year, which is in line with the country’s recovering exports, one analyst said
A South Korean ship manufacturer is mulling a project to develop a large-scale shipyard in the coastal central province of Khanh Hoa that should be able to build giant vessels of up to 400,000 DWT, a local official said. A source from the provincial Service of Planning and Investment said South Korea’s STX Shipbuilding Co., a member of STX Group, has proposed to develop a shipyard costing $500m at Van Phong Bay. The proposal has received preliminary support from the provincial
Alfa Laval, a heat transfer, centrifugal separation and fluid handling, has received two orders of record size for Alfa Laval PureBallast systems from two leading ship yards in Korea. The systems will be installed on board 14 vessels built for A.P Møller – Maersk. The total order value is about 80 MSEK and the delivery is scheduled for 2011 and 2012. “These are groundbreaking orders in many ways,” said Lars Renström, President and CEO of the Alfa Laval Group
Tanker owners, as reflected in global market share, prefer to order from Korean shipyards according to a recent analysis According to a Gibson market report, quoted by KOMEC-Korea, as many as half of China's shipbuilders are likely to go out of business over the next two to three years. Korean yards have taken 55% of all new tanker orders placed so far this year. As demand for Eco ships or more specialised tonnage takes off, it is Korean yards which are likely to benefit the most.
According to a report from The Korea Times, a South Korean fishing boat was hijacked by Somali pirates Oct. 9 in waters off Lamu, Kenya, which was considered a relatively safe maritime area, the Ministry of Foreign Affairs and Trade said. Two South Koreans identified only by their surname Kim — one, the 54-year-old owner of the ship and the other, the 67-year-old captain — were on board the 241-ton trawler Keummi 305. Also on board were two Chinese and 39 Kenyans.
Rebels deny losing control of North Korean-flagged tanker; Government says tanker being taken to western port. Oil blockade has slashed vital government revenues. By Ulf Laessing and Ghaith Shennib Libya on Monday stopped a North Korean-flagged tanker that had loaded oil from a rebel-held
The Danish Export Association’s Diploma, and His Royal Highness Prince Henrik’s Medal of Honor, was awarded to VIKING Life-Saving Equipment’s Korean representative, J.W. Lee, for close to thirty years’ of successful business partnership.
A North Korean-flagged tanker has finished loading crude at the Libyan rebel-controlled port of Es Sider but has not yet left the terminal, Libyan oil officials said on Monday. Libya's government has threatened to bomb the Morning Glory should the tanker try sailing off with crude from the
Reuters - South Korea's STX Offshore & Shipbuilding Co Ltd said on Monday it won a 413.8-billion won ($387.63 million) order to build eight tankers from from Navig8 Product Tankers Inc. The South Korean shipbuilder said in a statement the contract includes an option for four more tankers
MacGregor, part of Cargotec, saidi it won an order for two subsea cranes from South Korean shipyard Hyundai Heavy Industries Co Ltd. The active heave-compensated cranes will have an SWL of 100 and 25 metric tons, respectively. They will be fitted on board a new 160-meter heavy construction vessel
Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) has won two orders worth a total of US$640-million to build eight very large gas carriers (VLGCs) for two unidentified Asia-based firms reports Reuters. The South Korean shipbuilder said in a statement both firms had ordered four gas
The Panama Canal Authority (ACP) informs that representatives of the ship 'Chong Chon Gang' have paid the total amount of the fine for US$693,333.10 set due to the violation of the Regulations for Navigation in Canal Waters and consequently the ACP has authorized the release of the ship.
Dockwise, a wholly-owned subsidiary of Royal Boskalis Westminster N.V. (Boskalis) inform it has been awarded a contract by Statoil Petroleum AS for the transportation of two very large new jack-up drilling rigs from Korean shipbuilders to the North Sea
Port Officials and Global Auto Processing Services (GAPS) executed a fifth modification of its 2007 contract extending their agreement for an additional five years through January 31, 2019. The Port welcomed GAPS for the first time in March 2007.
Today in U.S. Naval History - January 23 1960 - Bathyscaph Trieste descends to deepest part of the ocean, Marianas Trench 1968 - USS Pueblo seized by North Korean forces in Sea of Japan For more information about naval history, visit the Naval History and Heritage Command website at
Drewry’s weekly container insight report shows exits from the transatlantic and Asia-Black Sea trades demonstrate how Hanjin is prioritizing financial repair over global coverage. Drewry said cash-strapped Hanjin Shipping has recently announced to its customers that it will be leaving two
The Korean Register of Shipping (KR) and the Danish Maritime Authority (DMA) signed an agreement on December 20, 2013 enabling the Korean classification society to survey and certify Danish ships. This brings the total number of countries where KR is authorized to carry out ship survey and
Daewoo Shipbuilding & Marine Engineering (DSME) has clinched a 322.6 billion won (US$305.8 million) deal to build a frigate that will help it exceed its 2013 order target of $13 billion, reports Yonhap News Agency. Citing DSME, Yonhap informs that the contract with the Defense Acquisition
Another active week in the newbuilding market is reported in the latest Clarkson Hellas S&P Weekly Bulletin, as follows: Dry Bulk Carriers Starting with the larger sizes Hyundai Merchant Marine (HMM) are understood by Clarkson Hellas to have placed an order for two firm 210
Rolls-Royce has been awarded a strategic contract to supply Abu Dhabi Marine Operating Company (ADMA-OPCO) with power generation equipment and related services to help boost oil and gas processing at the Satah Al- Razboot (SARB) offshore project in the United Arab Emirates (UAE).