South Korean shipbuilder Samsung Heavy Industries (SHI) has inked a contract with compatriot natural gas company Korea Gas Corporation (KOGAS) for the construction of two small-scale liquefied natural gas (LNG) carriers. Under the terms of the USD 100 million contract, the ships are expected to be delivered in May and December 2019. The 7,500 cbm vessels, to be equipped with KC-1 cargo containment system, will transport LNG from Tongyeong, Gyeongsangnam-do, to Jeju Island, according to the ...

South Korea is launching a KRW 11 trillion (USD 9.5 billion) worth fund for state-run banks intended for the country’s ailing shipbuilding and shipping industries, the government announced on Wednesday. The banks being targeted by the fund are Korea Development Bank (KDB) and the Export-Import Bank of Korea (KEXIM), which are hit the most by unprofitable loans, especially as they are forced to push their maturity now that the country’s major shipbuilding and shipping companies embark on ...

  California-based shipbuilder General Dynamics NASSCO has delivered the 50,000 dwt Liberty, the third and final ECO Class tanker ordered by SEA-Vista LLC. The LNG-conversion-ready product carrier, which has a 330,000 barrel cargo capacity, is part of an eight-ship Eco class tanker program being built for SEA-Vista, a partnership between SEACOR Holdings Inc. and Avista Capital Partners. The construction deal was signed between the parties in 2013 when NASSCO entered into an agreem...

Copenhagen-headquartered shipping and logistics company DFDS has held a naming and launching ceremony for the first of its two RoRo freight vessels currently under construction at Flensburger Schiffbau-Gesellschaft in Flensburg. The 210-metre vessel, named Gardenia Seaways, was launched on 17 February, DFDS said. Gardenia Seaways will now be completed alongside the quay in Flensburg where the superstructure will be added. The superstructure has arrived on a barge from Poland and wi...