KEPCO announced that it signed a memorandum of understanding (MOU) on promoting technology exchanges with Danish state-owned transmission company Energinet at the auditorium of Federation of Korean Industries (FKI) Tower in Yeouido, Seoul on March 6.Energinet is currently building transmission netwo
The Korean government and three major Korean shipbuilders -- HD Korea Shipbuilding & Offshore Engineering (KSOE), Samsung Heavy Industries, and Hanwha Ocean -- will invest 9 trillion won to secure future super-wide gap technologies for the Korean shipbuilding industry.The Ministry of Trade, Industry
Hyundai E&C, along with U.S.-based Holtec International, signed a business agreement for jointly participating in the U.K. Atomic Energy Authority (UKAEA)’s SMR technology competition with U.K.-based Balfour Beatty and Mott MacDonald at the Korean Embassy in London of the United Kingdom on March 5.T
HD Hyundai Shipbuilding & Offshore Engineering (HSOE) announced on March 6 that it has founded the Nuclear Energy Maritime Organization (NEMO) with leading global nuclear energy organizations.NEMO, which has its secretariat in London of the United Kingdom, will work with the International Maritime O
Since the beginning of this year, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has achieved over 50 percent of its 2024 annual order target within just two months.HD KSOE announced on March 4 that it had signed construction contracts for two medium-sized liquefied petroleum gas (LPG) carri
Hyundai Heavy Industries Power Systems (HPS), together with HD Korea Shipbuilding & Offshore Engineering (KSOE) and CE-TEK has signed a joint development program agreement for the research and development of Onboard CCS demonstration units.The Onboard CCS demonstration unit is scheduled to undergo c
HD Hyundai Shipbuilding & Offshore Engineering, HD Hyundai Heavy Industries (HHI), Hyundai Mipo Shipbuilding, and Hyundai Samho Heavy Industries announced on Feb. 28 that they recently held a Marine Platform Technology Council meeting with Siemens Digital Industries Software at Hyundai Mipo Shipyard
HD Korea Shipbuilding & Offshore Engineering (KSOE) recently signed a contract on the construction of four 174,000-cubic-meter liquefied natural gas (LNG) carriers with an Oceania-based shipping company.The LNG carriers are valued at US$270 million per vessel, which is US$5 million more than the pre
Root Energy Inc., Korea’s leading renewable energy local acceptance solution provider as well as a certified B Corp, has successfully raised KRW 20 billion (approx. USD 15 million) crowdfunded by residents of Suwon-ri, Hallim-eup, Jeju Island. It makes the Korea’s largest offshore wind farm Jeju Hal
HD Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company of HD Hyundai, has won two orders for very large ammonia carriers (VLACs).HD KSOE said in a public disclosure on Feb. 20 that it recently signed construction contracts for two VLACs with an African-based client. The
HD Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding holding company of HD Hyundai, recently announced that it has signed a memorandum of understanding with Woodside Energy, Australia’s largest energy company; Hyundai Glovis; and Mitsui O.S.K. Lines (MOL), a Japanese global shipping c
Korean shipbuilders lagged behind Chinese shipbuilders to take second place in global ship orders in January.Global ship orders totaled 2.57 million CGT (96 ships) in January, down 26 percent year on year, according to Clarkson Research, a U.K.-based shipbuilding and shipping market research firm. O
HD Hyundai is teaming up with global small modular reactor (SMR) leaders to explore the offshore nuclear market.HD Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding intermediate holding company of HD Hyundai, recently held a technology exchange meeting to jointly develop molten salt r
SK E&S is set to bolster its collaboration with Australia in the development of liquefied natural gas (LNG) resources and the application of carbon capture and storage (CCS) technology for the production of blue hydrogen.On Feb. 2, a meeting was held at the SK Seorin Building in the Jongno district
Daewoo E&C and CCCC Tianjin Dredging China signed a business agreement for an exclusive domestic use of the offshore wind turbine installation vessel (WTIV) Gang Hang Ping 5 at the Grand Hyatt Shanghai Hotel in Pudong, Shanghai of China on Jan. 31 (local time).Prior to the signing ceremony, on Jan.
Incheon will host this year’s APAC Wind Energy Summit on 26-28 November 2024.The thriving port city in South Korea has abundant potential for offshore wind development and provides the perfect setting for local, national and international groups to come together and drive the region’s offshore wind
Korean shipbuilders have won all the orders for very large ammonia carriers (VLACs) ordered this year. The analysis suggests that Korean shipbuilders are in a strong position to win orders due to their technological prowess.A total of 15 VLACs have been ordered globally so far this year, all of whic
Representatives of foreign chambers in South Korea, including those from the United States, Europe, and Japan, have proposed plans for improvement to boost investment in South Korea.The Korea Chamber of Commerce and Industry (KCCI) held the “2024 Foreign Chamber Day: Meeting with Foreign Chambers in
The Ministry of Trade, Industry, and Energy (MOTIE) has announced plans to achieve a US$700 billion export target this year. To attain this goal, the ministry will tailor export strategies per market by dividing them into key, strategic and emerging categories such as the United States, China, the E
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Offshore fixed-cost burden is weighing on 2024 earnings momentum, but the long-term profit outlook remains favorable. LPG and ammonia carrier orders are likely to exceed targets. Rising vessel prices