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MOL Charters Two More VLEC Newbuilds to SCG Chemicals
MOL Energia, a subsidiary of Mitsui O.S.K. Lines (MOL), has signed long-term charter contracts with SCG Chemicals, a wholly owned subsidiary of the Siam Cement Group (SCG), for two very large ethane carriers (VLECs), to be built in South Korea.The charter for two more VLECs comes in addition to three vessels already contracted by SCG Chemicals in January 2025.Of the approximately 90 dedicated liquefied ethane carriers currently in service or on order worldwideā¦
Is Nuclear Power Maritimeās Best Hope to hit āNet Zeroā?
In the ever-evolving quest for cleaner, more efficient energy sources in maritime vessel operations, nuclear power has re-emerged as a topic of serious discussion, as shipowners eye the International Maritime Organization push to ānet zeroā on or around 2050. Admittedly, there is no āsilver bulletā solution for the entirety of maritime premised on the wide variety of routes and ship types, but nuclear holds promise in several large-ship, oceangoing sectors.
South Korea Tops China in January Shipbuilding Orders
South Korea beat China in global shipbuilding orders in January, according to Clarkson Research Services data.South Korean yards received orders for 900,000 CGT for 13 ships, 62% of the global total. This included 12 LNG dual-fuel container ships ordered from HD Korea Shipbuilding & Offshore Engineering and one from Samsung Heavy Industries.Chinese yards received orders for 270,000 CGTs for 21 vesselsā¦
Amogy Expands Operations to South Korea
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.Koreaās status as an early adopter in ammonia and hydrogen fuel technologiesā¦
SHI taps GTT for Tank Design of a new LNG Vessel
GTT received an order from Korean shipyard Samsung Heavy Industries for the tank design of a new LNG carrier. The vessel will feature a total capacity of 180,000-cu.m.
Approval Granted for Blue Ammonia FPSO
MODEC and Toyo Engineering have jointly obtained an Approval in Principle (AiP) from ABS for a Blue Ammonia FPSO that will produce ammonia from the gas supplied by a traditional FPSO located nearby.Blue ammonia is produced from hydrocarbons where the CO2 emitted during production is sequestrated.The Blue Ammonia FPSO will use gas which has conventionally been reinjected as feedstock.The FPSO will beā¦
GTT to Design Tanks for Three New VLECs
French engineering firm GTT has booked an order from Samsung Heavy Industries for the tank design of three new very large ethane carriers (VLECs), bound to become the worldās largest VLECs.The three ethane carriers will each feature a total capacity of 100,000 m3 and will be fitted with GTTās Mark III membrane containment system.The VLECs will be able to trade various types of liquefied gases such as Ethaneā¦
MOL Picks Up Long-Term Charter for Three VLECs with Thai Firm
Mitsui O.S.K. Lines (MOL) has signed a long-term charter contract for three newbuilding very large ethane carriers (VLECs) with SCG Chemicals, a wholly owned subsidiary of Thailand's Siam Cement Group (SCG).The 100,000 m3 VLECs, spanning 230 meters in lengths and with breadths of 36.6 meters, will be built at Samsung Heavy Industries, and are scheduled for delivery in 2027.The vessels will be equipped with dual-fuel ethane propulsion enginesā¦
Amogy Raises $56 Million for Ammonia Power Solutions
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 & Securitiesā¦
MOL and JERA Ink Charter for LNG Carrier Newbuild
Mitsui O.S.K. Lines (MOL) has signed a long-term charter contract for a newbuilding LNG carrier with a vessel operation management company funded by JERA.This is the eighth contract for LNG carrier signed with JERA. The vessel will be built at the Geoje Shipyard of Samsung Heavy Industries, and is scheduled for delivery in 2026.It will be 290 meters long, with a breadth of 45.8 meters. It will feature a membrane tank of 174ā¦
Bureau Veritas, SHI Partner Up for Floating Storage and CCS Solutions
Bureau Veritas Marine & Offshore (BV) and Samsung Heavy Industries (SHI) have partnered up to develop Floating CO2 Storage Units (FCSU) and Carbon Capture and Storage (CCS) projects in the Republic of Korea in an effort to cut greenhouse gas emissions.The collaboration will center on validating and certifying cutting-edge CCS technologies that are cost-effective and sustainable.By blending BV's certification expertise with SHI's innovative technologyā¦
SHI Delivers New NYK LNG Vessel
NYK Line has taken delivery of the Samsung Heavy Industries (SHI)-built liquefied natural gas (LNG) carrier, named Quest Kirishima.The LNG carrier was completed and delivered at the SHI Geoje Shipyard on December 2, 2024.The vessel, Quest Kirishima, will be deployed under a time-charter contract with Q United Energy Supply & Trading, a wholly owned subsidiary of Kyushu Electric Power.Quest Kirishimaās membrane-type cargo tanks have a 174ā¦
GAIL Pens Long-Term Charter with āKā Line for LNG Ship
GAIL (India) has signed a long-term time charter contract with Kawasaki Kisen Kaisha (āKā Line) for a newbuild liquefied natural gas (LNG) ship.The LNG ship will be a modern two-stroke vessel having a tank capacity of 1,74,000 cubic metres and will be built by Samsung Heavy Industries.The contract was signed through GAILās ship-owning company established in Singapore.This is the first long-term timeā¦
LR and SHI Join Forces for Green Ammonia FPSO System
Lloydās Register (LR) has signed a memorandum of understanding (MoU) with Samsung Heavy Industries (SHI) for the joint development of a floating production, storage, and offloading (FPSO) system for green ammonia. The FPSO process has been widely used in the oil and gas industries, but its application for ammonia is relatively new. The unit will use renewable energyāÆto provide power for electrolysisāÆof seawater to produceāÆgreenāÆhydrogenā¦
ADNOC L&S Inks $4.4B Deals for 23 New Supertankers
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)ā¦
QatarEnergy Inaugurates Four New LNG Vessels in Korea
QatarEnergy has inaugurated four new conventional-size LNG vessels built in Samsung Heavy Industries and Hanwha Ocean shipyards in the Republic of Korea as part of its historic fleet expansion program.The four new vessels - Idāasah, Nuaijah, Umm Swayyah, and Lebrethah - are part of 128 total vessels ordered from Korean and Chinese shipyards as part of the largest shipbuilding program in the historyā¦
Shipbuilding Shares Soar After Trump, Yoon Call
South Korean President Yoon Suk Yeol spoke with Donald Trump on Thursday and congratulated him on winning the U.S. presidency on the "Make America Great Again" slogan as officials in Seoul worked to prepare for "significant" economic changes.Yoon and Trump held a 12-minute phone call and discussed the close security and economic ties of their two countries across all areas, a senior South Korean officialā¦
ClassNK Greenlights SHIās Autonomous Navigation Assistance System
ClassNK has issued an Approval in Principle (AiP) for Autonomous Navigation Assistance System āSASā developed by Samsung Heavy Industries (SHI).Samsung Autonomous Navigation Assistance System (SAS) is partially Autonomous Navigation System (ANS) including the functions of situational awareness through sensor fusion and electronic navigational chart information, collision and grounding risk assessmentā¦
Samsung Heavy Industriesā FCSU Design Earns Approval from Bureau Veritas
South Korean shipbuilder Samsung Heavy Industries (SHI) has been awarded an approval in principle (AIP) for its Floating CO2 Storage Unit (FCSU) design from classification society Bureau Veritas (BV).The AIP certificate was presented to Haeki Jang, Chief Technical Officer of SHI, by Matthieu De Tugny, President of Bureau Veritas Marine & Offshore, during a ceremony at Gastech 2024.The floating CO2 storage unit features a free-form pressure tank designā¦
ABS OKs SHI's Liquefied Hydrogen Carrier Vessel Design
ABS issued general design approval (GDA) to Samsung Heavy Industries Co., LTD. (SHI) for its detailed design of a liquefied hydrogen carrier, a 20,000 cbm vessel with Type C tanks.āHydrogen is a key enabler of the clean energy economy. In decarbonizing different industry sectors, hydrogen plays critical roles as a fuel, feedstock, energy storage and load balancing. As the demand for hydrogen growsā¦
