Latest news with #HDKSOE
Times of Oman
08-07-2025
- Business
- Times of Oman
Cochin Shipyard partners with HD Hyundai to expand footprint in India's booming shipbuilding market
Seoul: India's largest state-owned shipbuilder, Cochin Shipyard Limited (CSL), and HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the shipbuilding division of South Korea's HD Hyundai, have signed a memorandum of understanding (MoU) to jointly expand their global footprint and boost India's shipbuilding capacity, The Korea Herald reported. As per The Korea herald's report, the strategic MoU outlines long-term cooperation between the two companies in multiple areas, including ship design support, equipment supply, technical collaboration, and workforce training. Cochin Shipyard, which operates under a majority government stake and is located in Kerala, has delivered 70 ships in the past five years. It is known for building and maintaining a wide range of vessels, from merchant ships to aircraft carriers, the report added The partnership is expected to enhance CSL's global competitiveness and productivity, while also creating joint opportunities for securing vessel orders both in India and abroad, The Korea Herald reported. "This bilateral partnership is a critical move to strengthen our influence in the fast-growing Indian market and to support domestic equipment suppliers in expanding overseas," an HD KSOE official told The Korea Herald. The collaboration is in line with India's ambitious maritime policies, including the Maritime India Vision 2030 and Amrit Kaal Vision 2047. Earlier this year, India announced a 250 billion rupees (USD 2.92 billion) Maritime Development Fund aimed at boosting port infrastructure, coastal shipping, and shipbuilding. According to market research firm Ken Research, India's shipbuilding market has expanded more than 12-fold since 2022 and is projected to grow at an annual rate of over 60 per cent through 2033.
Business Standard
04-07-2025
- Business
- Business Standard
Cochin Shipyard signs MoU with HD KSOE, South Korea
HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE), South Korea has signed a Memorandum of Understanding (MOU) with Cochin Shipyard (CSL) on 04 July 2025. The MOU is intended to facilitate cooperation between the two companies in the following areas: (i) Joint exploration of newbuilding opportunities in India and abroad; (ii) Sharing of technical expertise to scale up the global standards in shipbuilding; (iii) Identification of initiatives to enhance productivity and capacity utilization; (iv) Joint efforts to upskill and strengthen workforce; and (v) Exploration of potential collaboration in other shipbuilding-related projects. KSOE is a global leader in shipbuilding and marine engineering, with proven expertise in designing and constructing commercial vessels, naval platforms, and offshore infrastructure. KSOE oversees the operations of some of the world's largest shipyards, including Hyundai Heavy Industries, Hyundai Mipo Dockyard, and Hyundai Samho Heavy Industries. This MoU, under which the two companies will pursue strategic cooperation across a range of areas, aligns with the Government of India's vision to develop the country into a global maritime hub under the 'Maritime India Vision 2030' and the 'Maritime Amrit Kaal Vision 2047'. These strategic frameworks are backed by initiatives such as the recently announced INR 250 billion Maritime Development Fund, aimed at accelerating investment in shipbuilding, port modernization, and infrastructure upgrades.
Trade Arabia
03-06-2025
- Business
- Trade Arabia
KR, HD Hyundai Mipo and HD KSOE collaborate on tank design for green ships
KR (Korean Register) has signed a memorandum of understanding (MoU) with HD Hyundai Mipo and HD Korean Shipbuilding & Offshore Engineering (HD KSOE) on applying Engineering Critical Assessment (ECA) techniques to the design of Type-C cargo tanks for liquefied gas carriers to ensure their structural safety. The agreement was signed on June 3 at Nor-Shipping 2025 in Oslo, Norway. With the maritime industry accelerating its transition toward decarbonization, demand is growing for ships powered by alternative fuels such as LNG, ammonia, and hydrogen. These fuels are typically stored and transported in high-pressure, cryogenic liquefied form, requiring advanced safety measures for onboard containment systems. Therefore, ensuring the structural integrity of cargo tanks has become a critical element in next-generation, environmentally sustainable ship design. This MoU represents a proactive response to these evolving needs. The three parties aim to improve the structural safety and design reliability of IMO Type-C independent tanks—one of the most widely adopted containment systems for low-emission vessels. Type-C tanks are commonly used on small to mid-sized gas carriers and bunkering vessels due to their structural independence and ability to store high-pressure cargo, and therefore require precise structural analysis to ensure safety. To tackle these technical challenges, the partners will apply ECA — a fracture mechanics-based structural analysis method — from the early stages of design. ECA simulates potential crack propagation in metallic structures, and assesses whether they can safely withstand real-world operating conditions. The methodology is particularly well-suited for high-pressure, low-temperature environments such as those found in liquefied gas storage. Under the agreement, HD Hyundai Mipo will conduct structural strength and fatigue assessments of the tanks, and HD KSOE will lead tank design and perform ECA-based structural evaluations. KR will review safety and compliance of the design in accordance with its classification rules and the international convention (IGC Code), with the goal of issuing an Approval in Principle (AIP). Lee Dong-jin, Executive Vice President of HD Hyundai Mipo, commented: 'Through this collaboration, we aim to secure AIP and further strengthen our competitiveness in the green ship market. We will continue to lead the industry through the development of high-value-added technologies.' Lee Dong-ju, Senior Vice President of HD KSOE, said: 'This project marks meaningful progress in ensuring both structural safety and design rationality of fuel tanks for green ships through the application of advanced structural evaluation techniques. We remain committed to advancing design and manufacturing technologies for environmentally friendly vessels.' Kim Han-se, Senior Vice President of HD KSOE SD Business Unit, stated: 'The joint development effort is expected to enhance the competitiveness of independent tanks in the high-value, eco-friendly vessel market. We are dedicated to delivering safe and efficient tank solutions tailored to the evolving demands of global shipowners, leveraging our advanced design and evaluation expertise.'
Time of India
14-05-2025
- Business
- Time of India
Government set to float 20,000 crore scheme to boost shipbuilding
Representative image NEW DELHI: In a push to promote domestic shipbuilding and meet the growing demand, government is set to provide support of over Rs 20,000 crore for rollout of the second phase of Shipbuilding Financial Assistance Policy and developing four greenfield shipbuilding and repair hubs in the next six years. For shipbuilding and repair hubs, four land parcels of 2,000-3,000 acres each, have been identified in Odisha (Kendrapara near Paradip Port), AP (Dugarajapatnam), Gujarat (Kandla) and TN (Tuticorin) for developing the greenfield shipbuilding and repair hubs, TOI has learnt. The thrust on shipbuilding comes amid a requirement of around 112 ships (estimated cost Rs 85,700 crore) for carrying crude, petroleum products, LPG, LNG, black oil, bitumen and other products in the next five years. Domestic shipyards are capable of producing only 28 such ships. "So, considering the domestic demand, it's the right time to roll out the scheme for developing new shipbuilding hubs. There is also a direction to the petroleum and natural gas ministry to put out tender for 10 medium range tankers in May itself," said a source. Andhra Pradesh govt has held discussions with Imabari Shipbuilding Co, Japan's largest shipbuilder, and two South Korean majors - HD KSOE and Hanwha Ocean - for the project proposed at Durgarajapatnam. At present, India has only eight large, seven medium and 28 small shipyards. "There is a huge potential to create capacity to meet domestic demand and also to become a major global player in the next few years," an official said. Officials said a proposal of creating a Rs 25,000 crore Maritime Development Fund would be placed before the Cabinet for approval. The fund will provide financial assistance to the shipping sector through equity and debt securities. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Korea Herald
13-02-2025
- Business
- Korea Herald
HD Hyundai unveils first nuclear-powered vessel prototype
HD Korea Shipbuilding & Offshore Engineering, the shipbuilding arm of HD Hyundai, has unveiled its prototype for a container carrier powered by a small modular reactor. The prototype was revealed Wednesday at the New Nuclear for Maritime Summit in Houston, where a diverse group of stakeholders, including business leaders, experts and naval figures, gathered to discuss the future of offshore nuclear technology. The new vessel is based on the company's basic design of a 15,000 twenty-foot equivalent unit class vessel powered by SMR. This design previously received approval in principle from the American Bureau of Shipping, validating that the vessel's critical components meet essential standards. "Nuclear-powered vessels can be a game-changer in the current shipbuilding market, where carbon neutrality is emerging," said Patrick Ryan, chief technology officer of ABS. The shipbuilding giant's new prototype represents a significant step toward achieving a carbon-neutral vessel, incorporating safety design concepts and real operational equipment into the basic design. According to the design, a double-tank system with stainless steel and light water will prevent radiation from escaping. While working on strengthening safety designs at its research center in Yongin, Gyeonggi Province, HD KSOE stated that it is on track to complete its marine nuclear business model by 2030. "HD KSOE is strengthening cooperation not only with major classification societies but also with international regulatory bodies to establish the necessary international regulations for the commercialization of nuclear-powered vessels," said Park Sang-min, head of the shipbuilder's carbon-neutral energy research division.
