Tag: Korea

South Korean ferry sank, more than 100 confirmed dead

DMA hosts meeting of Danish-Korean Green Growth Alliance which focuses on green shipping and offshore

UN Security Council Sanctions re Korea

New drilling rig and drillships from KONGSBERG in China and Korea

Korean shipyard launches new LNG tanker for Russian shipper

ABS officially opens the Korea Energy Technology Center

EU oil sanctions kick in on Sunday A South Korean ship classification society faces pressure from a U.S. lobby group to stop verifying safety and environmental standards for Iran's biggest shipping companies as tightening U.S. and European sanctions restrict its oil exports.Without verification from such bodies, ships are unable to call at international ports.U.S. group United Against Nuclear Iran (UANI), in a letter sent this week to the Korean Register of Shipping (KR), urged the society to stop providing classification and certification services to the Islamic Republic of Iran Shipping Lines (IRISL), its front companies and the National Iranian Tanker Company (NITC)."KR's irresponsible decision to provide certification services at a time when responsible businesses are leaving Iran undermines the efforts of the international community to isolate the Iranian regime," Mark Wallace, UANI's chief executive and a former U.S. ambassador wrote in the letter dated June 25.A targeted campaign by UANI, which includes former U.S. ambassadors on its board and is funded by private donations, had led Germany's Germanischer Lloyd and France's Bureau Veritas to drop their classification cover for Iranian shipping firms."It is not simply a question of KR violating relevant sanctions provisions, but of following a responsible course of ...

Eurozone fiscal crisis may damage Korean export-oriented industries Eurozone fiscal crisis may damage Korea's export-oriented industries, shipbuilding, automobile & information technology.In particular, the nation's shipbuilding companies' exports to the European Union are equivalent to 19.7 percent of their total production, according to a report of the Hyundai Research Institute, says 'The Korean Herald'.Exports account for about 85 percent of the total sales for the shipbuilding sector.Hyundai Heavy Industries, the world's largest shipbuilder, saw its shipbuilding orders remain unchanged at $1.5 billion (1.7 trillion won) between January and April, having plunged by 70 percent over the same period last year.In addition, major shipbuilders, including Hyundai Heavy Industries, are suffering from declining profitability as they strive to win production orders at lower bidding prices.U.S.-based Moody's Investors Service recently issued a negative projection about the global shipbuilding industry.In an economic assessment gathering hosted by the Federation of Korean Industries, experts predicted the persistent eurozone fiscal woes are exerting a negative influence on the country. They added that slower than expected growth in China and the United States is weighing down growth that was originally expected to pick up pace in the second half.Source: The Korea Herald

Dispute over the East Sea name continues The Japanese call it the Sea of Japan. To Koreans, it is known as Dong-hae, or the East Sea.To the Japanese government, the Sea of Japan should be known as such internationally, a position the government of South Korea calls "colonialist."Seoul wants the Sea of Japan to be mentioned concurrently with the East Sea on international charts.The dispute over the name, simmering between the two neighbors for more than a decade, has once again gone to the International Hydrographic Organization, the global body based in Monaco set up to "support safety of navigation and the protection of the marine environment."The name issue was taken up at the 18th International Hydrographic Conference held in Monte Carlo last month, and the outcome has led to divergent interpretations in Japan and South Korea.Japanese government officials said the IHO decided April 26 to continue using the term Sea of Japan in reference to the body of water between Japan and the Korean Peninsula.That position was also reflected in South Korean media.Quoting officials, South Korea's Yonhap news agency said April 26 in a combined dispatch from Monte Carlo and Seoul that the IHO decided "not to revise a ...

DNV has signed a MOU with Korea Gas Corporation for LNG sector On 12 April 2012, DNV and Korea Gas Corporation (KOGAS) agreed to cooperate on research and development in the LNG sector. Based on the signed MOU, DNV and KOGAS will co-organise conferences and cooperate on R&D projects throughout the entire LNG value chain, from upstream to downstream, including gas reservoir exploration, natural gas production, liquefaction, transportation, storage, regasification and supply."DNV has maintained a good relationship with KOGAS, providing several SHE risk management services that include EHSQ evaluation and safety culture assessment. We're happy to expand our cooperation to the research area and further our long-term partnership with KOGAS. Based on our expertise in the LNG industry, we anticipate helping KOGAS to acquire innovative technology and strengthen its position in the global market," says Mr Jon Rysst, Regional Manager for DNV Korea and Japan.Mr. Jon Rysst (left), the Regional Manager for DNV Korea & Japan and Mr. Yang, Young Myung (right), Head of R&D Division of KOGAS signed a MOU to cooperate on R&D in LNG sector.As the sole LNG provider in Korea, KOGAS is continuously expanding its investment in foreign resource development projects and acquisitions of non-conventional gas, ...