Tag: South Korea

President Yoon Suk Yeol attended the opening ceremony of Korea's first automated terminal on April 5, at Busan New Port, marking a significant step in South Korea's shipping and logistics sector.

On February 17, a collision occurred between a cargo vessel and an LNG carrier approximately six kilometers southwest of Yeoseo Island in Wando County, South Jeolla Province, South Korea.

A cargo ship with 11 crew members aboard sank off the southern island of Jeju, but all individuals were safely rescued, announced the Coast Guard on 16th February 2024.

NYK and JERA Co., Inc. signed a long-term charter contract for a new liquefied natural gas (LNG) carrier to be built in South Korea by Hyundai Samho Heavy Industries.

PT Pertamina International Shipping (PIS) strengthens its fleet by adding two Very Large Gas Carriers (VLGC), giant gas tanker ships optimized for transporting LPG commodities domestically and internationally.

DNV has been selected to class ship owner Purus’ newbuilding order of two Very Large Ethane Carriers (VLEC). The vessels have been contracted at HD Hyundai Heavy Industries (HHI) in South Korea and scheduled for delivery in 2026-2027.

The third ro-ro multipurpose unit belonging to the innovative "G5" class was delivered to the Grimaldi Group at the Hyundai Mipo Dockyard Co. Ltd shipyard in Ulsan (South Korea).

CYTUR has successfully completed the Smart Ship Cybersecurity Demonstration Project in 2023 with funding from the Ministry of Science and ICT and the KISA (Korea Internet & Security Agency).

A new report by the Institute for Energy Economics and Financial Analysis (IEEFA) finds that South Korea is rapidly developing liquefied natural gas (LNG) import and storage terminals, presenting a high risk of overinvestment and overcapacity. 

For the first time in Korea, simultaneous operations (SIMOPs) of ship-to-ship LNG bunkering were successfully conducted for a coal-carrying bulk carrier at the POSCO raw material dock, one of the loading docks at Gwanyang port.