Tag: South Korea

In 2017, the US exported 905,000 barrels per day of propane, with the largest volumes going to supply petrochemical feedstock demand in Asian countries. Four of the top five countries receiving US propane exports are in Asia: Japan, China, South Korea, and Singapore. These countries imported 452,000 b/d of US propane in 2017.

Despite an overall improvement in the global shipbuilding industry, the bandages in international competition are getting tougher, with China attracting more and more orders in niche markets with prices below material costs, noted Germany's Shipbuilding Association, VSM.

After lying on its side at the southwestern port of Mokpo for almost a year, the wreck of the Sewol ferry, involved in South Korea's worst ever maritime disaster, is set to be placed in an upright position this week, as an additional effort for the missing victims to be found.

South Korean shipbuilder Hyundai Heavy Industries Co., informed that it has won a US$407 million order, to build four container ships for the European firm Zodiac Group Monaco by July 2020. The order comes as HHI, which is the world's largest shipbuilder by sales, is shedding its efforts to combat dwindling orders.

In line with Korean government’s ‘5 Year Plan for Rebuilding Korean Shipping’ initiative, Korea’s national flagship carrier Hyundai Merchant Marine announced plans to order twenty eco-friendly and highly efficient mega container ships, which are considered to deploy in the Asia-North Europe and US East coast trades.

India signed an MoU with the Republic of Korea on mutual recognition of certificates of competency of seafarers, paving the way for the two governments to mutually recognize the certificates of maritime education and training, competency, endorsements and medical fitness of seafarers issued by each other. 

As part of its continuing effort to combat dwindling orders, South Korea's largest shipbuilder HHI revealed plans to carry out a voluntary retirement program. The shipbuilder said it has offered to provide up to 20 months' salary to those who apply for the program by April 29. 

The fast speed passenger ship Pink Dolphin grounded on a small island’s coastal rocks on Mar 25 in southwest Korea, while it was heading to Mokpo with 163 passengers, including 5 crewmembers on board. South Korean coast guard  rescued all 163 people from the ferry. However, six people sustained minor injuries and were hospitalized.

South Korea and Denmark have announced expansion of their cooperation seeking to enhance global marine navigation systems and develop technologies for automated ships, according to South Korean Ministry of Oceans and Fisheries.

While shipments of automobiles showed the highest growth at 14.4%, followed by soft coal with 11.6% and machinery up 8.3%, the cargo traffic of sand and steel dropped by 35.9% and 12.8%, respectively, according to data provided by the country's Ministry of Oceans and Fisheries.