Hanwha News

Korea's Hanwha aims to buy up to 9.9% of Australian shipbuilder Austal in an after-market offer following its failed A$1.02 billion ($646.17 million) takeover bid last year, a term sheet showed on Monday.Hanwha has offered A$4.45 each for 41.2 million Austal shares, showed the term sheet reviewed by Reuters.The deal's bookrunners, in a message seen by Reuters, told investors the books had been covered for the transaction.The Korean company does not intend to make a takeover bid for Austal "at this time", the term sheet showed.Hanwha and Austal did not immediately respond to requests for commen

This week, ABS issued type approval for IACS UR E27 cyber resilience requirements to Hanwha Systems for its cybersecurity solution SecuAider®.IACS requirements UR E26 “Cyber Resilience of Ships” and UR E27 “Cyber Resilience of On-Board Systems and Equipment” now apply to new ships, and they aim to help the industry protect itself from cyberattacks.Hybrid warfare tactics, where cyber campaigns precede or accompany physical confrontations, pose complex risks to maritime stakeholders, says Dryad Global.

Hanwha Ocean has delivered the overhauled U.S. Navy Vessel Wally Schirra, setting a new milestone in Korea’s shipbuilding industry for the first ever maintenance, repair, and overhaul (MRO) project for the U.S. Navy, completed in just six months.The MRO project, carried out at Hanwha Ocean’s Geoje Shipyard over approximately six months, involved comprehensive maintenance, including hull and engine repairs, major equipment inspections and replacements, and system upgrades.During the maintenance process…

ABS issued a Type Approval for IACS UR E27 cyber resilience requirements to Hanwha Systems for its cybersecurity solution, SecuAider®.Hanwha Systems’ SecuAider® is a software solution that offers protection to a vessel’s data and networks from advanced cyberattacks, such as ransomware and malware.The ABS E27 certification is part of the ABS Cyber Resilience Program that evaluates a range of digitally enabled systems and equipment, looking at the security controls implemented at the design…

Qatar Gas Transport Company (Nakilat) has held a steel cutting ceremony for eight of its new liquefied natural gas (LNG) carriers at Hanwha Ocean shipyard in the Republic of Korea.These vessels are part of Qatar’s historic LNG fleet expansion project, aimed at meeting the maritime transport needs of the LNG sector.In February 2024, Nakilat signed agreements with QatarEnergy to charter and operate 25 conventional-size LNG carriers, making Nakilat both the owner and operator of the vessels…

TOTE Services, LLC and Hanwha Philly Shipyard, Inc. marked a milestone in U.S. shipbuilding with the keel laying of the fifth and final vessel in the National Security Multi-Mission Vessel (NSMV) program. Commissioned by the U.S. Department of Transportation’s Maritime Administration (MARAD), the NSMV program is designed to provide top-tier training for future mariners while supporting humanitarian assistance and disaster relief efforts. The vessels are being built to replace aging training ships at five state maritime academies…

Qatar Gas Transport Co is currently the top Gulf Cooperation Council (GCC) company in monetary terms, with a live and on-order fleet value of $11.9 billion, reports Rebecca Galanopoulos of Veson Nautical.Based on VesselsValue data, the fleet consists of 36 live LNG and LPG vessels with a further 30 on order. Qatar Gas also placed the highest value newbuilding order in February 2024 with their investment in 15 large LNG vessels, scheduled to be built at Samsung and contracted for…

Taiwanese container shipping firm Evergreen Marine Corporation has ordered 11 new LNG dual-fuel container ships from South Korean and Chinese shipyards, whose combined worth is up to $3.2 billion.On February 12, Evergreen disclosed two orders for 11 container ships, each with a 24,000 TEU capacity.The company placed an order to South Korea’s Hanwha Ocean for six vessels, and to CSSC Guangzhou Shipyard International (GSI) in China for the remaining five vessels.Evergreen will pay between $265 million and $295 million per unit…

Shares in South Korean shipbuilders HD Hyundai Heavy Industries and Hanwha Ocean rose more than 15% and 16%, respectively, today, after two U.S. senators debuted a bill to allow the U.S. Navy to build naval vessels in a shipyard located in a U.S. allied country.Senators Mike Lee (R-UT) and John Curtis (R-UT) have introduced two new bills aimed at enhancing the readiness and capabilities of the United States Navy and Coast Guard. The "Ensuring Naval Readiness Act" and the "Ensuring…

Taking a well-to-wake approach to CO2 emissions means that the shipping industry will look beyond emerging engine technologies such as dual-fuel ammonia engines when considering the viability of alternative fuels.Engine manufacturers are optimizing combustion and reducing pilot fuel requirements, but any pilot diesel requirements mean the process is not 100% carbon free.This week, Hanwha Power Systems, Hanwha Ocean and Baker Hughes announced a different concept. The companies agreed to design and produce low carbon ammonia gas turbines capable of 100% ammonia combustion.

Amogy, a provider of ammonia-to-power solutions has announced the expansion of its operations into South Korea with the opening of an office in the Pangyo Techno Valley.This will Amogy close to established investors and partners, including SK Innovation, Samsung Heavy Industries, HD Hyundai, Hanwha, SV Investment, and Korea Zinc.Korea’s status as an early adopter in ammonia and hydrogen fuel technologies, along with robust national policies that support the clean tech economy, was a major driver in Amogy’s decision to establish a local presence.

Hanwha Power Systems and Hanwha Ocean have signed a joint development and collaboration agreement with Baker Hughes to design and produce low carbon ammonia gas turbines, to contribute towards reaching the goal of completely carbon-free operation of ships.Hanwha Group plans to complete the development of liquefied natural gas carriers and container ships using the ammonia gas turbine propulsion system by 2028.The ammonia gas turbine to be developed through this collaboration will be based upon the proven…

Danish offshore wind installation firm Cadeler has signed two contracts with undisclosed clients for the utilization of its newbuild wind turbine installation vessel (WTIV), Wind Mover, starting immediately upon delivery.The vessel, currently under construction at Hanwha Ocean Shipyard in Korea, will support operations and maintenance (O&M) activities, along with potential installation work, in Europe.The contracts, which are part of a combined agreement, will cover the entire period from Wind Mover’s arrival in Europe following its delivery from the shipyard, up until the vessel's next schedu

Danish offshore wind installation firm Cadeler has taken delivery its new wind turbine installation vessel (WTIV) Wind Maker, the first of the two planned M-class vessels to join its growing fleet.Wind Maker was officially named at a naming ceremony at the Hanwha Ocean Shipyard in Korea, where the vessel was built.The ceremony, attended by Cadeler executives and key stakeholders, honored the collaborative efforts behind the making of the great vessel. The Godmother of Wind Maker is Sharon Ainslie – the wife of Seajacks’ founder…

Amogy, a provider of mature, scalable, and efficient ammonia-to-power solutions, announced that it raised $56 million in venture financing, bringing total raised since inception to more than $270 million.The round was co-led by existing investor Aramco Ventures and new investor SV Investment. Additional new investors participating in the round include Samsung Heavy Industries, BHP Ventures, Hanwha Investment & Securities, AFW Partners, Quantum Ventures Korea, Kibo Invest, and Seoul IP…

A few choice 'news of note' from other leading new sources around the globe - January 6, 2025.2025 Target: $18.5B in Shipbuilding OrdersAccording 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…

The first Russian-built ice-class liquefied natural gas (LNG) carrier has entered sea trials, LSEG data showed on Friday, as part of Russia's efforts to raise global LNG market share despite U.S. sanctions.The tanker, named Alexey Kosygin after a Soviet statesman, was built at the Zvezda shipyard and is due to join the fleet of vessels for Russia's new Arctic LNG 2 plant, which has been delayed because of the U.S. sanctions over the conflict in Ukraine.The U.S. Treasury has also placed sanctions on the new vessel…

American Bureau of Shipping (ABS) has awarded Hanwha Ocean an Approval in Principle (AIP) for its Pre-FEED standard FPSO design intended to create an asset optimized for deployment in the deep waters of West Africa.The FPSO design is 340 meters long and capable of storing approximately 2.38 million barrels of crude oil, with a daily crude oil production capacity of 190,000 barrels.Developed to accommodate topsides for crude oil and or gas production facilities, the hull is designed…

Shipbuilder Hanwha Ocean has secured an Approval in Principle (AiP) from certification body Bureau Veritas for its standard Floating Production Storage and Offloading Unit (FPSO) design, which includes the latest developments in advanced digital solutions to support more energy efficient operations.Standard FPSO design of Hanwha Ocean measures 340 meters in length and 62 meters in width, with a crude oil storage capacity of 2.38 million barrels and a production capacity of 190…

Each year, as we prepare for the largest U.S. based maritime industry conference in New Orleans, we tend to look back on the state of the industry and initiatives that were announced from the conference that took place the year before. 2023 provided us with plenty to talk about. In September of 2023, while the International Maritime Organization (IMO) and the global shipbuilding industry were fixated on “emissions” and alternative fuels, U.S. Secretary of the Navy Carlos Del Toro held the opening meeting of the Government Shipbuilders Council.

A.P. Moller - Maersk has signed agreements with three yards for a total of 20 container vessels equipped with dual-fuel LNG engines.Combined, the vessels have a capacity of 300,000 TEU.All 20 ships will be equipped with liquified gas dual-fuel propulsion systems and vary in size from 9,000 to 17,000 TEU. Two 9,000 TEU and six 17,000 TEU vessels have been ordered from Yangzijiang Shipbuilding, six 15,000 TEU vessels have been ordered from Hanwha Ocean, South Korea, and six 15,000 TEU vessels have been ordered from New Times Shipbuilding…

On November 10, Vice Admiral Angus Topshee, the 38th Commander of the Royal Canadian Navy, visited Hanwha Ocean’s Geoje shipyard and discussed Canada’s upcoming submarine acquisition project.This visit marks a significant step in the bidding process for the Canadian Patrol Submarine Project (CPSP), in which Hanwha Ocean is actively participating.During the visit, Hanwha Ocean introduced the KSS-III Batch-II submarine, a model that the proposed KSS-III CPS for CPSP is based upon.

ADNOC Logistics & Services signed contracts worth $4.4 billion to build 23 supertankers for ethane, ammonia and liquefied natural gas, the UAE's state news agency reported on Thursday.ADNOC's CEO Abdulkareem Al Masabi said the company through its AW Shipping joint venture awarded contracts worth $1.9 billion to build nine Very Large Ethane Carriers (VLECs) and four Very Large Ammonia Carriers (VLACs) with Jiangnan Shipyard in China.ADNOC L&S also signed contracts worth $2.5 billion with Korea’s Samsung Heavy Industries and Hanwha Ocean to build up to 10 LNG carriers…