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Korean Shipyards Bag $1.5bln Newbuild Order from MSC
Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) - two major shipyards in South Korea - are poised to sign a deal worth $1.5 billion…
Framo to Deliver Pump Systems to GasLog
Norway's Framo AS said it has won a contract to deliver pump systems (sea water lift pumps) for a Floating Storage Regasification Unit (FSRU) for the ship owner…
Korean Shipyards Still in Rough Sea
South Korean shipyards are still struggling to cut costs through unpaid leave for their workers and shutting down dry docks idled amid a lack of orders, Yonhap reported quoting industry sources.
Capital Product Bags 3 MR Charters
Capital Product Partners, an international diversified shipping company, announced that it has secured new time charter employment for three Medium Range (MR) Product Tankers.
OOCL Germany Delivered
OOCL celebrated the christening of Hull H2173, a 21,413 TEU newbuilding constructed at the Samsung Heavy Industries shipyard on Geoje Island. Named as OOCL Germany…
Nakilat, Shell Completes First Phase of LNG Carrier Management Transition
Nakilat Shipping Qatar Limited (NSQL) a wholly owned subsidiary of Nakilat and Shell International Trading and Shipping Company Limited (Shell), have completed the…
Samsung Heavy Back in Black in Q2
Cost reductions paved the way for South Korea's Samsung Heavy Industries (SHI) to swung to the black in the second quarter of 2017, though sales income decreased in the period reported Yonhap.
Mega Ship MOL Tribute Under BSM Management
![MOL Tribute (Photo: MOL)](https://images.marinelink.com/images/maritime/w200h200c/mol-tribute-photo-mol-75998.jpg)
Bernhard Schulte Shipmanagement (BSM) has announced that the 20,146 TEU containership, MOL Tribute, came into full management of the Hong Kong Ship Management Center on July 10, 2017. Built by Samsung Heavy Industries in South Korea, MOL Tribute is 400 meters in length having a deadweight of 196,877 MT, with her sister ship, MOL Tradition, scheduled to enter Hong Kong management at the end of August.
Samsung Heavy to Cut Its Workforce
South Korea’s shipbuilder Samsung Heavy Industries (SHI) is looking to further cut its workforce, and have employees return part of their salaries in order to cut costs…
S. Korea's Top Three Shipyards Look Bullish
With a slew of contracts to be signed soon South Korean shipyards are expected to clinch a decent number of new orders during the second half of the year, Yonhap reported quoting industry sources.
Korean Shipyards Look Bullish
South Korea's major shipyards are estimated to have racked up solid profit during the second quarter of the year, aided by the increased delivery of ships, cost…
Shell's FLNG Facility Sets Sail for Australia
Royal Dutch Shell's Prelude floating liquefied natural gas (FLNG) ship has left a shipyard in South Korea for its destination offshore northwest Australia, the company said on Thursday.
Statoil, AET Expand Shuttle Tankers Contract
![The shuttle tanker Eagle Barents currently on charter for Statoil from AET. (Photo: Statoil)](https://images.marinelink.com/images/maritime/w200h200c/the-shuttle-tanker-eagle-barents-75164.jpg)
Statoil ASA and petroleum and chemical tanker owners and operator AET are extending their partnership in the North Sea shuttle tanker sector. Statoil has, awarded a long-term contract to AET, a subsidiary of Malaysian energy shipping group, MISC Berhad, to operate two specialist DP2 offshore loading shuttle tankers (OLSTs) on long-term charter. These new vessels will be in addition to the two AET DP2 ships currently on charter, in the same area, for Statoil.
Egina FPSO to Arrive in Nigeria
![The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside. (Image: NIMASA)](https://images.marinelink.com/images/maritime/w200h200c/the-director-general-of-the-74895.jpg)
On a recent visit to South Korea to inspect the Egina FPSO project, and FPSO scheduled to arrive in Nigeria in August 2017, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside said the ongoing construction of the multi-billion dollar Egina Floating Production Storage and Offloading (FPSO) project will increase the knowledge base of NIMASA as a safety administration and enhance its regulatory capacity.
GTT to Equip Samsung-built FLNG
GTT said it has received an order from Samsung Heavy Industries (SHI) to equip a new Floating Liquefied Natural Gas unit (FLNG), reportedly the second biggest in the world.
Korea’s Big 3 Yards in Path of Recovery
South Korea’s shipbuilders are expected to recover this year after suffering from a global industrywide slump, reported The Korea Economic Daily. The report said…
Samsung Heavy Industries, DNV GL Partner for LNG Carrier Design
![At the signing (L to R): Tommy Bjørnsen, Regional Manager Korea & Japan, DNV GL – Maritime, Mun-Keun Ha, Senior Executive Vice President, SHI, and Remi Eriksen, DNV GL Group President & CEO. (Photo: DNG GL)](https://images.marinelink.com/images/maritime/w200h200c/at-the-signing-l-to-74469.png)
DNV GL and Samsung Heavy Industries. Co., Ltd (SHI) signed a joint development project (JDP) agreement focused on the development of new LNG carrier designs. Mun-Keun Ha, Senior Executive Vice President of SHI, and Tommy Bjørnsen, DNV GL’s Regional Manager Maritime Korea & Japan, signed the agreement at the DNV GL Group head office in Høvik, during Nor-Shipping week. The JDP aims to develop two 30K LNG carrier designs, one with membrane type LNG tanks and one with type-C (pressurized) LNG tanks.
Framo Delivers Pumping Systems to Höegh LNG
![Höegh Grace (Photo: Framo AS)](https://images.marinelink.com/images/maritime/w200h200c/hegh-grace-photo-framo-as-74278.jpg)
Framo has signed a contract with Höegh LNG for the delivery of pumping systems to their new Floating Storage Regasification Unit (FSRU). The contract is for one unit, with option for three more units which are currently being built at Samsung Heavy Industries in Korea. FSRU is a floating processing and terminal facility used when it is not profitable, or for other reasons not practical, to develop onshore terminals.
South Korean Shipyards: Silver Lining for the Biggies
Though South Korea’s big three shipbuilders -Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries - showing signs of fiscal recovery this year…
Flex LNG signs deals to buy six new vessels
![Image: Flex LNG](https://images.marinelink.com/images/maritime/w200h200c/image-flex-lng-74238.jpg)
Oslo-listed Flex LNG has signed contracts to buy six new liquefied natural gas (LNG) vessels for its fleet by 2019, as it bets on increasing fuel demand from Britain and other countries, its chief executive told Reuters. The gas shipping company said earlier this year it was considering buying the six vessels, each with around 170,000 cubic metres of capacity, subject to securing funding for the $1.2 billion transaction.