Top Shipbuilder Expands Asia Footprint with Subic Bay Shipyard Deal
(Bloomberg) — South Korea’s HD Hyundai Heavy Industries Co. Ltd. will set up operations in a former US naval base in the Philippines, an investment that may usher in the...
by John Konrad (gCaptain) On August 17, China shipbuilders marked another milestone in maritime technological advancements with the launch of the “Eco Maestro”, the world’s second dual-fuel methanol containership. This not only underscores China’s commitment to eco-friendly alternatives but also its ability to rapidly integrate cutting-edge technologies into new vessels.
This news follows closely on the heels of Maersk receiving the world’s first methanol-powered containership from Hyundai in July. For the past two decades, Korean shipyards, including giants like Hyundai and Samsung, have been the primary destinations for shipowners seeking technological advancements. However, in recent years, China has demonstrated its prowess in quickly following the South Korean yards with intricate newbuilds.
Built by Sumec’s Yangzhou New Dayang Shipbuilding, a leading Chinese shipbuilder, the ship will serve X-Press Feeders, a Singaporean company, and operate in Northern Europe by Q2 2024.The ship utilizes the latest MAN dual-fuel engine, which is built to run on green methanol. The ship is fitted with energy-efficient mechanisms like shaft generators and adjustable propellers, reaffirming China’s ability to build out designs that integrate a complex array of technology into one working system.
In just a span from December 2021 to June 2023, China’s advanced shipbuilding capabilities were further highlighted as orders expanded. Eastway, an affiliate of X-Press Feeders, expanded its fleet with an additional order of six more advanced, methanol-operating, ice-class ships, reinforcing the trust global players have in China’s ability to deliver state-of-the-art ships swiftly.
China’s emphasis on quickly integrating new cutting-edge maritime technology, as evident from this launch, along with its highly competitive, government-subsidized cost structure, positions it as the likely frontrunner in producing the next-generation, environmentally-friendly ships, of the future.
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