According to data provided by the Ministry of Trade, Industry and Energy, Korea’s shipbuilding industry has achieved the best results in eight years since 2013(18.45 million CGT), winning 17.44 million CGT worth of orders in 2021. This success is attributed to increased demand for eco-friendly ships due to IMO’s restriction on exhaust gases entering full swing, For eco-friendly ships whose domestic orders are continuously on the increase, Korea has accomplished the world’s NO.1 position by winning 10.88 million CGT orders that account for 64% of global orders, totaling 17.09 million CGT. In particular, medium-sized shipbuilders’ drive for more active and creative sales and increases in order numbers were noticeable in 2021, in addition to the resurrection of three large shipbuilders. One of them, K Shipbuilding is leading the resurrection of medium-sized shipbuilders by winning 333,000CGT in orders, a 275% increase from the previous year.

System and equipment specialist DongHwa Entec signed an MOUwith K Shipbuilding for 8,000 Teu class LNG Fueled container ship development on Jan. 20 to strengthen competitiveness of medium size vessels in eco-friendly shipping. The two companies share the consensus that a mutual cooperation system and win-win corporate culture will lead the future of the marine shipbuilding industry through research and technology collaboration in the marine shipbuilding sector. Through this MOU, K Shipbuilding will push forward with ship-class AIP acquisition for 8,000Teu class container ships, while DongHwa Entec will be responsible for engineering and actual application of LNG fuel gas supply systems.

We wish K Shipbuildinga successful leap forward into eco-friendly shipbuilding. This partnership is expected to exemplify a successful win-win model between a medium-sized shipbuilding company and an equipment specialist.