South Korea's largest shipping firm Hyundai Merchant Marine (HMM) is likely to part ways with the 2M Alliance which will expire in April 2020 and join a new ocean alliance said a local media report.
The world’s largest LNG bunker supply vessel has started its voyage from the HMD shipyard in South Korea to its primary area of operation in Northwest Europe, on 17 October.
The South Korean government is underwriting a feasibility study for a port expansion project at Slavyanka, a tiny Russian port 25 miles southwest of Vladivostok.
South Korea's state-run Korea Ocean Business Corp. (KOBC) has announced $122 million in guarantees for local shipping companies to build LNG-fueled ships and to purchase other vessels.
The South Korean government is planning to build smart shipyards equipped with artificial intelligence technology in a move expected to boost the cost competitiveness of the nation's small to mid-size shipbuilders.
