ABS along with Hyundai Heavy Industries (HHI) announced that completed a landmark joint development project (JDP) upon HHI’s Integrated Smart-ship solution (ISS) system. Namely, ABS identified the smart functions of the project and published the first Product Design Assessment (PDA), concerning project’s data infra-structure.
Hyundai Heavy Industries claims that it has developed a ship operation system by retrofitting its generator-engine model with advanced information and communication technologies. More specifically, it uses artificial intelligence to reduce fuel expenses by more than 10%.
Several days ago, the European Commission has started a full-scale investigation to assess the proposed takeover of Daewoo Shipbuilding and Marine Engineering (DSME) by the Hyundai Heavy Industries Group (HHI). The investigation completed on 17 December while was carried out under the EU Merger Regulation.
Maeil Business Newspaper reports that South Korea’s big three shipbuilders will be facing a challenging year ahead of them due to the extra pressure put on the offshore plant sector, affecting its business performance. It is said that as oil refiners are reluctant to place new orders due to high volatility of oil prices, it is increasingly difficult to get offshore plant orders.
Hyundai Heavy Industries Holdings Co Ltd’s $1.8 billion merger with rival shipbuilder Daewoo is expected to face a full-scale investigation in Europe due to serious EU antitrust concerns. Reuters now reports that the European Commission will launch an investigation into the deal in the following days, after a preliminary review ends on Tuesday, December 17.
Hyundai Heavy Industries launched a simplified power system to be used by 15,000 TEU containerships, and received Approval in Principle by DNV GL. Traditionally, for conventional containerships, onboard electrical equipment is powered at a low voltage level. Yet, as containerships are becoming bigger, this means that the electricity they consume is increased.
As Yonhap reports, Hyundai Heavy Industries Group issued an application to the European Union, waiting for approval for its proposed takeover of local Daewoo Shipbuilding and Marine Engineering Co. The company informed that the submission will be reviewed by anti-trust authorities at the European Commission, expecting the results of their call in 2020.
The US Coast Guard Marine Safety Center issued the 22nd USCG Ballast Water Management System Type Approval Certificate to Hyundai Heavy Industries Co., Ltd., after a detailed review of the manufacturer’s type approval application determined the system met the requirements of 46 CFR 162.060.
The Daewoo Shipbuilding & Marine Engineering branch of the Korean Metal Workers’ Union are to conduct a demonstration in Brussels, October 1, against the union of Daewoo and Hyundai Heavy Industries group; Following, the Korean Metal Workers’ Union are to proceed to a similar action in Japan.
The US Department of Justice published a statement that Hyundai Construction Equipment Americas Inc. (HCEA) and Hyundai Heavy Industries Co. Ltd (HHI) agreed to pay a $47 million civil penalty for violating Title II of the Clean Air Act.
