Maritime News Roundup: Shipbuilding, Wreck Removals and Subsea Security
A few choice 'news of note' from other leading new sources around the globe - January 6, 2025.
- 2025 Target: $18.5B in Shipbuilding Orders
According to Business Korea, HD Korea Shipbuilding & Offshore Engineering set its shipbuilding target for 2025 at $18.5B, a mammoth jump from last year's $13.5B target. Of the $18.5B, $9.7 is targeted to HD Hyundai Heavy Industries; $3.8B for HD Hyundai Mipo; and $4.5B for HD Hyundai Samho.
- In the Navy [Business]
In related but separate news from the South Korean shipbuidling sector, also reported by Business Korea, Hanwha Ocean and HD Hyundai Heavy Industries are taking significant steps to enter the U.S. Navy ship repair fraternity. Read the Full Story Here. It is not secret that the U.S. Navy is in need of shipbuilding capacity, and in turn it has sought to forge relationships globally, in both shipbuilding, ship maintenance and repair. Hanwha Ocean made history last year as the first Korean company to win a maintenance project for a U.S. Navy ship, winning the contract for a 40,000-ton logistics support ship.
- Chinese Vessel Suspected in Another Subsea Cable Drag
Bloomberg News is reporting that Taiwan suspects that a subsea cable damaged late last week on its NE coast was the result of a Chinese-owned cargo vessel inflicting sabotage. Reported on various mainstream news outlets including the Financial Times, this reports follows today's news out of Finland's Elisa that subsea cables damaged on Christmas Day in the Baltic Sea appear to have been "Torn Apart" by external force. Read the full story on Bloomberg News
- Guyana Moves to Clear Wrecks
With its nascent offshore energy business still taking shape, Bloomberg News reported that Guyana is moving to clear wreckage from its waterways to clear the path for ships and boats serving the sector. Bloomberg's reports notes that more than 14 wrecks have been cleared since 2023, citing a recent press conference with Guyana Maritime Administration Director Stephen Thomas. ExxonMobil, in particular, has been a major player in the development of Guyana's offshore oil fields.