China is shaking up the global shipbuilding industry with a monumental merger between its two largest state-owned companies, China State Shipbuilding Corporation (CSSC) and China Shipbuilding Industry Corporation (CSIC). The long-anticipated consolidation, now officially confirmed by China’s State-Owned Assets Supervision and Administration Commission, is poised to create a colossal entity that will redefine the dynamics […]
In a significant move to enhance its oil production capabilities, QatarEnergy has awarded four main Engineering, Procurement, Construction, and Installation (EPCI) contracts totaling more than six billion dollars. This monumental investment is aimed at the next development phase of the offshore Al-Shaheen field, Qatar’s largest oil field, with a vision to increase production by approximately […]
American LNG company Excelerate Energy has awarded a shipbuilding contract to Hyundai Heavy Industries (HHI) for a new floating regasification and storage unit (FSRU). The vessel has to be delivered by the South Korean shipbuilding company in June 2026. According to Excelerate Energy, the FSRU will be able to store 170,000 m3 of gas. It […]
South Korean telecommunications company KT has agreed to acquire a stake of 10% in Hyundai Robotics for KRW50 billion ($41 million) as part of a move to accelerate collaboration for digital transformation based on 5G, artificial intelligence (AI) and smart factory. Hyundai Robotics was launched in May 2020 as a new subsidiary company of South […]
Qatar Petroleum has signed deals worth more than QAR70bn ($19.23bn) with three South Korean LNG shipbuilders to build liquefied natural gas carriers (LNG carriers). Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI), and Samsung Heavy Industries (SHI) are the three Korean shipyards which will reserve a major portion of their LNG ship construction […]