Offshore drilling contractor Pacific Drilling has filed an application with the High Court in London for leave to appeal the decision issued in arbitration proceedings with Samsung Heavy Industries (SHI) regarding the construction contract of the Pacific Zonda drillship.
South Korean shipbuilder Samsung Heavy Industries Co. has won an arbitration case against Pacific Drilling VIII Ltd. (PDC) over a drill ship order cancellation in 2013. The shipbuilder is now likely to receive US$318 million in compensation over this case.
MISC Berhad, Samsung Heavy Industries (SHI), Lloyd’s Register (LR) and MAN Energy Solutions announced a collaboration to jointly launch a project (JDP) for an ammonia-fuelled tanker to support shipping’s drive towards a decarbonized future.
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.
Samsung Heavy Industries Company Limited (SHI) has agreed to pay penalties amounting to more than $75 million in order to resolve a U.S. government’s investigation into violations of the Foreign Corrupt Practices Act. The Department of Justice stated that SHI paid millions of dollars to a Brazilian intermediary knowing that some of the money would be used to bribe high-level executives at Petrobras to obtain a shipbuilding contract.
Samsung Heavy Industries (SHI) and Bloom Energy, a manufacturer of solid oxide fuel cells, announced their partnership on designing and developing a vessel that could be the first large merchant vessel powered by fuel cells that run on natural gas.
ABS and South Korean shipbuilder Samsung Heavy Industries (SHI) signed on a joint development project to collaborate on a next generation LNG carrier with advanced air lubrication and smart capabilities. The agreement was signed on 17 September.
Samsung Heavy Industries (SHI) signed a contract with the Russian Zvezda shipyard for the construction of ice-class LNG carriers for the Arctic LNG 2 project and to provide technological support in this project. SHI announced that it will establish a joint venture with Zvezda for the construction of shuttle tankers, which demonstrates its willingness to enter into the Russian market.
Samsung Heavy Industries Co., one the major shipbuilders in South Korea, informed on July 29, that it has created a lithium-ion battery power system for ships. According to the company, the battery system can be implemented to any type of ships.
South Korean shipbuilding giant Samsung Heavy Industries announced that it began the construction of an LNG system test facility as it looks to boost its market competitiveness. SHI invested in R&D (research and development) facility to strengthen its market position.
