Hyundai Heavy Industries Co., Ltd.

South Korea and the United States havehttps://www.marinelink.com/news/hanwha-build-usflagged-lng-carrier-528214 been discussing a shipbuilding tie-up that could include investments to modernize U.S. shipyards and more help to repair the U.S. naval fleet as Seoul seeks better tariff terms, government and industry sources said.U.S. President Donald Trump, who has made revitalizing the aging U.S. shipbuilding industry a priority to keep up with China, has repeatedly raised the idea of cooperating with South Korea's cutting-edge shipbuilding industry.After investing billions of dollars in shipbuilding capacity, China is the world's biggest shipbuilder.

Shots Fired at Livestock Carrier in Red Sea Near Yemen

2 days ago

People in a wooden boat opened fire on a Comoros-flagged livestock carrier in the Red Sea near Yemen on Thursday, and the vessel was detained by the Yemeni Coast Guard, according to the United Kingdom Maritime Trade Operations (UKMTO).A maritime security official in the Yemeni government told Reuters the vessel was released after being held on suspicion, with naval forces concerned because its AIS tracking system was turned off and it was sailing north from the Horn of Africa.British security firm Ambrey said the vessel, travelling from Bosaso, Somalia, to Jeddah, Saudi Arabia, reported having received instructions to proceed to Mocha. It did not make clear who had given the instructions.

Green Hydrogen Retreat Poses Threat to Targets

2 days ago

Green hydrogen developers are cancelling projects and trimming investments around the world, raising the prospect of longer than targeted reliance on fossil fuels.The challenges facing the sector have exposed its initial ambitions as unrealistic.Hard-to-electrify industries that were seen as ideal candidates for green hydrogen, such as steelmaking and long-distance transportation, have found that transition to the low-carbon fuel looks prohibitively expensive.The gap between ambition and reality in Europe shows the extent of the reset happening within the industry, said Jun Sasamura, hydrogen manager at research company Westwood Global Energy.

Shipbuilding: Bulk Vessel Deliveries Soar

2 days ago

“We forecast that bulker deliveries will gradually increase this year and in 2026, reaching 41.2m Deadweight Tonnes (DWT) and a six-year high. Bulker newbuilding contracting was strong in 2023 and 2024, and several of the ships ordered during this period are expected to be delivered during this and next year,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Of the 59.3 million DWT expected to be delivered until the end of 2026, the panamax segment accounts for 33.9% while supramax accounts for 28.3%. Ordering for these segments rose in 2023 and 2024 as they were benefitting from comparatively higher freight rates.

Hanwha to Build US-Flagged LNG Carrier

3 days ago

Hanwha Shipping, a U.S. subsidiary of Korean shipbuilder Hanwha Ocean, on Tuesday said it ordered an LNG carrier valued at roughly $252 million from its own Pennsylvania-based unit Hanwha Philly Shipyard.Under the agreement, the ship will be built in Korea and flagged in the United States. It is slated for delivery in the first half of 2028.The deal comes as the United States works to revive domestic shipbuilding and expand its fleet of commercial and military vessels. Hanwha Systems and Hanwha Ocean bought Philly Shipyard for $100 million in December."This agreement looks to be a 'first step' in building out U.S.