In Korea, HD Hyundai Heavy Industries, the shipbuilding affiliate of HD Hyundai, announced a strategic agreement with TerraPower on March 12 to expand manufacturing capacity of advanced nuclear plants. The signing was attended by senior officials including TerraPower founder Bill Gates, and HD Hyundai Executive Vice Chairman. Kisun Chung. TerraPower’s Natrium plant integrates a sodium-cooled […]
In Korea, Korea Advanced Institute of Science and Technology researchers developed a catalyst that significantly boosts ammonia synthesis at lower temperatures and pressures, potentially cutting energy use and emissions from a century-old industrial process, the university announced on March 11. Led by Professor Min-Ki Choi, the team designed a system combining ruthenium (Ru) and barium […]
In Korea, Korea Ocean Business Corporation secured official certification from global accreditation body DNV for its newly established Sustainable Finance Framework, aiming to issue approximately $300 million in blue bonds by mid-2025 to fund eco-friendly maritime projects, the organization announced on March 4. Designed in compliance with internationally recognized principles, KOBC’s framework sets financing standards […]
In Korea, Today Newspaper reports the US Trade Representative has proposed port fees of $1 million per Chinese-operated ship and $1.5 million for other owners using Chinese-built vessels, a move that could push global ship orders toward South Korea, industry analysts said on March 5. China dominates global shipbuilding, securing 70% of orders in 2023, […]
In Texas, Utility, the off-gas-to-value company pioneering its proprietary eXERO gas production technology optimized to decarbonize hard-to-abate industries, has signed a commercial agreement with GH EnA of Korea for multiple projects to create clean, affordable, carbon-negative hydrogen using biogas with Utility’s groundbreaking H2Gen reactor. The commercial agreement signed by both companies covers projects deploying H2Gen […]
In Korea, the Korea Times reported that HD Hyundai Oilbank’s biofuel business is achieving important milestones to meet increasingly complex market demands. The refiner said it completed Korea’s first biodiesel plant utilizing supercritical fluid technology in April, with commercial operations now underway. The facility aims to produce 130,000 tons of biodiesel annually, according to the […]
In Finland, HD Korea Shipbuilding & Offshore Engineering subsidiary HD Hydrogen spent €72 million for a majority stake in Convion, a specialist in fuel cell technology based in Espoo, Finland. Announced on August 26, 2024, the deal underscores HD Hyundai’s strategic dive into the burgeoning hydrogen fuel cell market. HD Korea Shipbuilding & Offshore Engineering […]
In Korea, Business Korea reports the shipbuilding industry is experiencing a significant shift, with a rising preference for liquified natural gas (LNG) dual-fuel container ships over methanol-powered vessels. According to Clarkson Research, the first half of this year saw orders for 40 LNG dual-fuel container ships, double the 20 methanol dual-fuel ships ordered. This is […]
In the UK, Innovation News Network reported that scientists at the Korea Institute of Science and Technology (KIST) have developed a revolutionary MXene that may advance green hydrogen production. The report noted that the team has developed the oxidatively stable molybdenum-based MXene as an electrocatalyst support for anion exchange membrane water electrolyzers. Due to its […]
In Korea, Hanwha Systems and Hanwha Ocean have announced the acquisition of Philly Shipyard from Aker ASA, marking a significant expansion in their global defense and shipbuilding operations. The $100 million investment secures a leading U.S. shipbuilder that has produced around half of the large commercial ships under the Jones Act since 2000. Philly Shipyard, […]
