Hanwha Ocean, a South Korean shipbuilder, is investing $1.3 billion in safety enhancements at its shipyard operations over the next three years. This decision comes after criticism from the government and unions for lax safety protocols. The investment will include a smart system using AI, body cameras for workers, and replacing outdated equipment.
Japan’s MOL introduces innovative Wind Challenger design for LNG carriers, collaborating with Hanwha Ocean. The plan includes two 160-foot rigid sails on a 938-foot vessel, aiming to reduce fuel consumption and achieve decarbonization goals. ClassNK grants approval for the design, with plans for 25 vessels by 2030 and 80 by 2035.
The market for very large ammonia carriers (VLAC) is rapidly growing, with South Korea’s major shipbuilders taking the lead. Analysts project rapid growth as ammonia power technologies become commercially available, with ammonia anticipated to become a leading alternative fuel. Shipowners are preparing for the market by ordering large vessels, with South Korean shipbuilders leading the way.
