South Korea’s Ministry of Oceans and Fisheries began the “Vessel Speed Reduction Program” in December 2019, in efforts to reduce fine dust from ships and protect the marine environment. The Korean Program will provide even greater incentives in order to induce more ships to participate in the program, which is important considering the seriousness of fine dust levels in ports.
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.
According to the “Advanced Manufacturing Shipbuilding Application” report published by KETmaritime, a rapid growth was seen in shipbuilding’s patent application. The study analyzes the recent use and future potential of ‘new-age’ technology, involving 3D-scanning, 3D-printing, robotics, virtual and augmented reality.
SKTI informed that it will increase its offshore oil blending business by four times, reaching from the current 23,000 barrels a day, to 90,000 barrels next year. The company charters a large oil tanker and adds semi-finished products to produce LSFO. What is more, SKTI also plans to retrofit scrubbers on 19 ships.
Samsung Heavy Industries has been ordered to shut down operations on its main plant in Geoje, South Gyeongsang Province, following a series of deadly accidents caused by safety lapses. The Ministry of Employment and Labour announced that a 58-year-old laborer was killed when construction materials ― 1.5 tons of H-beam steel ― from a crane fell on him at a Samsung Heavy shipyard in Geoje.
According to Korea Development Bank and Korea Trade-Investment Promotion Agency, ships that run on LNG are expected to account for six out of ten new vessel orders in six years due to toughened environmental standards. 60.3% of the global ship orders are expected to be for LNG-fueled vessels by 2025.
The Russian trawler ‘Zaliv Ogli’ caught fire while it was docked at Busan, Korea on February 28. The vessel was undergoing repairing operations when it got on fire. The fire spread at an unprecedented rate around the superstructure, engulfing stern compartments and then the bridge.
The US President, Donald Trump, stated that its between him and Xi Jinping’s responsibility to strike a tariff deal. As he seems to be personal for this matter, it reflects his desire for a pact and might mean that Beijing won’t have to make big concessions, according to Reuters. Yet, his statement puts White House negotiators in a tough spot.
According to local media reports, the Chinese authorities stopped a gas leak from a South Korean liquefied petroleum gas tanker, at Dongying Anchorage, Shandong Province, China, Bohai sea on January 14. The leak occurred after the ship didn’t manage to shut down the valve for one of its cargo tanks. The master notified authorities and asked for anchorage, to fix the valve.
Daewoo Shipbuilding & Marine Engineering (DSME) was fined 10.8 billion won ($9.59 million) by the Fair Trade Commission for abusing its power against its contractors between 2013 and 2016. The FTC also stated it will file a charge against the shipbuilder with the prosecution, saying DSME’s practice was an abuse of its power as the ordering body.
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