Princess Anne visited HD Hyundai Heavy Industries in Ulsan for UK-Korea shipbuilding talks and reviewed its cooperation with Rolls-Royce and Beaufort.
Kongsberg Maritime has agreed to acquire Sweden’s Berg Propulsion, adding propulsion systems, around 4,000 installed vessels and broader coverage of commercial and naval markets.
Iskra Shipyard, 3. Maj Shipyard and Fincantieri have continued talks in Croatia on possible naval shipbuilding and maritime cooperation following their recent Memorandum of Understanding.
HD Korea Shipbuilding & Offshore Engineering secured three VLACs worth 545.6 billion won, raising annual orders to 142 vessels and 70.3% of its target.
Foreign nationals accounted for 9.3% of HD Hyundai Heavy Industries’ workforce in 2025, led by Vietnamese employees, as the shipbuilder expanded overseas hiring amid labor shortages.
South Korea’s three largest shipbuilders are forecast to post 9.04 trillion won in annual operating profit, with LNG carriers and higher shipyard productivity supporting further gains.
Union Maritime has been linked to two VLGC/VLAC newbuildings at HD Hyundai Heavy Industries, with delivery expected in 2029 and a reported value of about $234 million.
LS Marine Solution has started construction of a cable-laying vessel with a 13,000 t cable capacity at Tersan Shipyard, with delivery scheduled for the first half of 2028.
ADNOC Logistics & Services has ordered four 175,000 m³ LNG carriers from Jiangnan Shipyard for $900 million, with all four vessels scheduled for delivery in 2029.
