ShippingWatch

South Korea's biggest yards increase order target for green ships

Green transition and a growing number of rules mean that South Korea's three biggest yards now dare to increase their order target for new ships in 2021. Some expect to bag almost 50 percent more orders, reports Yonhap.

Photo: Daewoo Shipbuilding & Marine Engineering/Yonhap

More and tougher environmental rules make South Korea's biggest yards raise their targets for new ship orders, a growth expected to be driven by the green transition, reports media Yonhap.

The most ambitious of the three is Korea Shipbuilding & Offshore Engineering Co., KSOE, which expects that the yard's three units can secure orders for USD 14.9 billion in 2021, close to 50 percent more than in the past year.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Alphaliner: HMM set to go private in 2022

The South Korean state is reportedly prepared to divest container line HMM after having rescued the company from bankruptcy in 2016. According to Alphaliner, South Korea's central administration has confirmed a plan to privatize the carrier in 2022.

400 people risk being laid off at Seadrill

Once the contracts for two of Seadrill's drilling rigs expire, around 400 of the company's 1,050 employees are at risk of losing their jobs, reports media. Labor union expects the carrier to announce dismissals prior to Christmas.

X-Press Feeders orders eight methanol-powered container vessels

Singapore-based carrier X-Press Feeders has placed an order for eight new container vessels capable of sailing on both green methanol and conventional bunker oil. The ships will be delivered in 2023 and 2024. The carrier initially announced the order as being for 16 new ships but has since adjusted this number. Updated.

Further reading

Related articles

Latest news

See all jobs