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February 1, 2019

Deals this week: Samsung Heavy Industries, Corvus Energy, Ecoslops

Samsung Heavy Industries (SHI) has received a KRW419bn ($375m) contract from Celsius Tankers for the construction of two liquefied natural gas (LNG) carriers.

Samsung Heavy Industries (SHI) has received a KRW419bn ($375m) contract from Celsius Tankers for the construction of two liquefied natural gas (LNG) carriers.

The LNG carriers will have a carrying capacity of 180,000m³ each and will be incorporated with SHI’s eco-friendly and smart ship technologies such as Saver Air, and INTELLIgent and Lifecycle-MANged (Intelliman) Ship.

Saver Air is an energy-saving device, which reduces the friction between seawater, while Intelliman is a smart ship solution used by carriers to comply with the emission regulations.

Corvus Energy has been awarded a contract by Norwegian Electric Systems (NES) for delivering lithium ion battery-based energy storage systems (ESS).

The ESS will be installed on-board five new electric ferries to be operated by Norway’s Fjord1.

The air-cooled Corvus Orca Energy ESS will supply electric power to the propulsion system developed by NES.

Ecoslops and Suez Canal Economic Zone (SCZone) have signed an agreement to set up a maritime oil waste treatment facility at Port Saïd in Egypt.

The new facility will collect, receive and treat maritime oil waste at the port. Both the parties will complete technical studies and formulate a financial plan for the MARPOL Port Reception Facility in Port Saïd.

“Hyundai Merchant Marine (HMM) has agreed to acquire a 50% share in PSA Hyundai Pusan New-Port Terminal (PHPNT) Pier 4 in Busan.”

The project involves the deployment of a collection vessel along with the construction of a reception and treatment facility on a 2ha site in the new port area.

Scheduled for implementation in the fourth quarter of this year, the project received financial assistance from the Government of France.

Hyundai Merchant Marine (HMM) has agreed to acquire a 50% share in PSA Hyundai Pusan New-Port Terminal (PHPNT) Pier 4 in Busan.

The 50% stake currently held by Waska in PHPNT will be taken over by Yuanta-HPNT, a joint venture of HMM and PSA.

HMM and PSA will invest KRW221.2bn ($198m) in PHPNT, of which KRW177bn ($158m) will be sourced by HMM and its Korea Ocean Business. PSA will invest KRW44.2bn ($40m).

The deal will establish HMM and PSA International as joint owners of PHPNT, with each holding a 50% stake in PHPNT.

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