S&P Global to Buy IHS Markit for $44 Billion in 2020’s Biggest Merger
By Noor Zainab Hussain (Reuters) – Data giant S&P Global Inc has agreed to buy IHS Markit Ltd in a deal worth $44 billion that will be 2020’s biggest merger,...
In their second news release of the day, South Korean shipbuilder and engine manufacturer, Hyundai Heavy Industries, announced it has started exporting the eco-friendly gas engine Hyundai HiMSEN H35/40GV after completing test runs on June 18.
The new gas engine runs on liquefied natural gas rather than heavy crude oil and has a maximum power output of 13,000 bhp. The HiMSEN H35/40GV can be used to generate power for onshore power plants, commercial ships, and offshore facilities including drillships.
The new engine emits 20% less carbon dioxide than diesel engines, reduces NOx emissions by 97% to reach world’s lowest level of 50 ppm, and improves engine performance by 47%.
The Ulsan, South Korea-based company will export the engine to an onshore gas-powered power plant in the Middle East after final paint and packing work.
Mr. Kim Jeong-hwan, COO of Hyundai Heavy’s Engine & Machinery Division comments:
“Due to high oil prices and strengthening regulations on emissions, the demand for gas engines is increasing. We expect these high-output gas engines to help Hyundai Heavy expand our product lines, diversify target markets, and boost sales.”
With a 35% share of the diesel engine market, Hyundai Heavy looks to be in the Top 3 for gas engines with a 15% market share by 2013.
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