SEOUL, July 1 (Reuters) - North and South Korea reopened a maritime communication channel on Sunday, with vessels from the two countries making radio contact for the first time in a decade, South Korea's Defence Ministry said in a statement. A North Korean patrol boat responded immediately when the South Korean Navy contacted it via an international radio channel at 9 a.m. … [Read more...]
HMM to Spread 20-Vessel Megaship Order Among South Korea’s Top Shipbuilders
South Korea's biggest shipping line Hyundai Merchant Marine has opted to split its twenty-vessel megaship order among South Korea's top three shipbuilders as it seeks to accelerate its strategy of achieving 1 million TEU capacity. HMM confirmed in April its intention to place orders for the 20 eco-friendly newbuilds, comprising of twelve vessels of 23,000 TEU capacity … [Read more...]
South Korea to Offer ‘Industry Crisis’ Funding to Hard-Hit Shipbuilding Regions
SEOUL, May 29 (Reuters) - South Korean Finance Minister Kim Dong-yeon said on Tuesday the government will designate five key shipbuilding centres on the country's south coast as "industry crisis" zones eligible for economic support. The areas include Dong-gu in the city of Ulsan, Geoje-si of Kyong-nam province and Jinhae-gu of Changwon, as well as Tongyeong and Mokpo in the … [Read more...]
Car Carrier Catches Fire at Port of Incheon, South Korea -Incident Video
A Panama-flagged car carrier caught fire Monday while docked at the Port of Incheon in South Korea. Officials said the fire broke out at about 9:40 a.m. local time in the cargo area of the vehicle carrier, which was loaded with about 2,000 vehicles bound for Libya at the time. The ship has been confirmed as the 52,000-ton, 200-meter-long Auto Banner. The fire is … [Read more...]
Yonhap: South Korea Unveils Plan to Order 200 Vessels by 2020
South Korea's government will help the nation's shipping companies place orders for about 200 ships over the next three years to help the country's ailing shipping and shipbuilding industry, South Korea's Ministry of Oceans and Fisheries announced this week, as reported by Yonhap. The plan is part of a mid-term restructuring plan unveiled for South Korea's shipping and … [Read more...]