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HD Hyundai Marine Solution achieves South Korea’s largest IPO in more than two years

Initial price on the first day of HD Hyundai Marine Solutions’ listing was KRW 119,900, 43.8% higher than the public offering price of KRW 83,400.

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HD Hyundai Marine Solution achieves South Korea’s largest IPO in more than two years

HD Hyundai Marine Solution, the maintenance and repair unit of shipbuilding conglomerate HD Hyundai Group, on Wednesday (8 May) announced its successful stock market debut on the Korea Exchange (KRX), achieving South Korea’s largest initial public offering (IPO) in more than two years.  

The company held a stock market listing ceremony at the Seoul office of the KRX with attendance of HD Hyundai Vice Chairman Chung Ki-sun, HD Hyundai Marine Solution CEO Lee Ki-do ng, Korea Exchange Chairman Jeong Eun-bo, and KB Securities CEO Kim Seong-hyeon.

The firm’s stock opened at KRW 119,900, 43.8% higher than the public offering price of KRW 83,400 and reportedly hit KRW 166,100 before closing at KRW 163,900.

During its public offering for general investors from 25 to 26 April, the company achieved a record competition ratio of 255.8:1, attracting about KRW 25 trillion in subscription deposits, setting the highest record for this year’s IPO market.

HD Hyundai Marine Solution was launched as an independent corporation in 2016 to respond to the increasing demand for ship aftermarket (AM), providing total solutions covering the entire life cycle of ships, including eco-friendly ship modification, ship digital control and platform and bunkering.

The firm said it will be utilising the funds raised through the listing to build and upgrade a logistics centre, secure domestic and overseas port warehouses, acquire a ship management company, build a cloud management system, build a repair shipyard network, and plan to accelerate the transition to a digital solution-based platform company.

Related: HD Hyundai Global Services changes name to HD Hyundai Marine Solution

 

Photo credit: Korea Exchange
Published: 10 May 2024

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Newbuilding

Tsuneishi delivers world’s first methanol dual-fuel Ultramax bulker to NYK

“Green Future” was delivered at Tsuneishi factory on 13 May and will be chartered by NYK Bulk & Projects Carriers, an NYK Group company, from Kambara Kisen.

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Tsuneishi delivers world’s first methanol dual-fuel Ultramax bulker to NYK

Tsuneishi Shipbuilding on Wednesday (14 May) said it has delivered the world’s first methanol dual-fuel Ultramax bulk carrier, Green Future

The 65,700 dwt vessel was delivered at its factory on 13 May and will be chartered by NYK Bulk & Projects Carriers, an NYK Group company, from Kambara Kisen.

Tsuneishi Shipbuilding said the vessel maintains the high cargo capacity and fuel efficiency characteristic of the TESS66 Aeroline design series, while enabling more sustainable operations through the use of methanol as a fuel.

The methanol fuel tank has been positioned to maximise safety and facilitate smooth cargo handling while maintaining loading efficiency. It is also equipped with a fuel-efficient main engine and Tsuneishi’s proprietary Aeroline technology to reduce wind resistance, delivering superior fuel performance.

Mr Okumura Sachio, Representative Director, President & Executive Officer of Tsuneishi Shipbuilding, said: “This delivery marks just the beginning. We will continue constructing methanol dual-fuelled vessels at our overseas facilities and remain steadfast in our pursuit of technological innovation to contribute to a more sustainable maritime industry and global environment.”

NYK said the vessel is the first bulk carrier in the NYK Group to be equipped with a dual-fuel engine that uses methanol and fuel oil.

Vessel Particulars

LOA: 199.99 m
Breadth: 32.25 m
Depth: 19.15 m
Deadweight: approx. 65,700 metric tonnes
Capacity: approx. 81,500 m3
Draft: 13.8 m

 

Photo credit: Tsuneishi Shipbuilding
Published: 15 May, 2025

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Events

Green Shiptech China Congress to explore alternative bunker fuels and ship technologies

LNG, methanol and ammonia as well as fuel cell integration will be among key issues discussed at the annual conference which will be held on 25 to 26 September in Shanghai.

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1000×600 GSCC2025 Logo

Ridge China on Wednesday (14 May) announced it will be hosting the 14th Green Shiptech China Congress (GSCC), an annual conference which will be held on 25 to 26 September in Shanghai. 

More than 4,400 experts and decision makers from governments, classification societies, shipowners, shipyards, research institutes, technology/equipment suppliers and consulting companies attended the previous GSCC from 2012 to 2024. 

For 2025, over 400 industry experts, corporate decision makers and government officials will be engaged in comprehensive discussions on current issues of IMO, EU, USCG, China MSA’s policies and regulations, designs and standards for new ship models, innovative and sustainable green ship technologies at this annual conference.

Alternative bunker fuels such as LNG, methanol and ammonia as well as fuel cell integration will be part of the important issues discussed at the event. 

Speakers will be from

  • IMO
  • European Commission
  • U.S. Coast Guard
  • China MSA
  • Financial Institutions
  • Maritime Research Institutes
  • Solution & Technology Providers
  • Shipowners
  • Shipyards
  • Classification Societies

Key topics

  • Policies and Regulations Update and Interpretate by IMO, European Commission, U.S. Coast Guard and China MSA
  • Retrofitting Vessels to Achieve Decarbonization Goals
  • Energy Efficiency Continues to Be Key for Decarbonization
  • Decarbonization Through Digitalization
  • Digital Technologies As a Key Enabler for Emissions Reduction
  • Impact of a Hull Coating Upgrade on Hull Efficiency
  • LNG As Marine Fuel: Pivoting Towards Cleaner Shipping
  • Methanol As a Marine Fuel
  • Ammonia’s Credentials As a Green Fuel
  • Wind Propulsion Technology
  • Fuel Cell Integration: Upcoming Challenges and Opportunity
  • Propelling Carbon-neutral Shipping with Green Engines and Alternative Fuels
  • Next-generation Electric and Hybrid Marine Propulsion Technologies and Components
  • Latest Developments in Energy Storage Systems

Interested parties may contact:

Mr. Quin Xu
Tel: +86 21 6607 8610 -8003
Mob: +86 13564222811
Email: [email protected] 

Note: The English and Chinese version of the event website can be found here and here respectively while the event registration can be found here

 

Photo credit: Ridge China
Published: 15 May, 2025

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Bunker Fuel

TFG Marine to launch bunker fuel supply operations in Jamaica on 1 June

Firm will commence marine fuel supply operations at Port of Kingston and on north coast of Jamaica, with Scott Petroleum, a local supplier with insight into Caribbean bunker market.

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TFG Marine to launch bunker fuel supply operations in Jamaica from 1 June

Global marine fuel supply and procurement firm TFG Marine on Wednesday (14 May) said it will launch its bunkering service in Jamaica with its local partner, Scott Petroleum. 

The marine fuel supply operations will commence at the Port of Kingston as well as on the north coast of Jamaica, from 1 June.

 “The operation is being launched in partnership with Scott Petroleum, a trusted local supplier with over two decades of experience and unmatched insight into the Caribbean bunker market,” it said in a social media post. 

Very Low Sulphur Fuel Oil (VLSFO), High Sulphur Fuel Oil (HSFO) and Low Sulphur Marine Gas Oil (LSMGO) fuels will be sourced locally from the Petrojam Limited-operated Kingston refinery and will be supplied via the bunker barge operated by Scott Petroleum.

“By combining Scott Petroleum’s local insight with TFG Marine’s global expertise and commitment to innovation, this new venture aims to set a new benchmark for marine fuel supply in the region, delivering reliable, efficient and transparent bunkering services to vessels calling at this key Caribbean port,” the company said. 

Kenneth Dam, Head of Bunkering at TFG Marine, said: “We’re very happy to be setting up in Jamaica,” It’s a strategic location with strong demand and teaming up with Scott Petroleum means that we can hit the ground running with an existing reliable, well-run operation.

“We’re looking forward to bringing TFG Marine’s global expertise and fuel supply innovation to the Caribbean, and to raising the standard of service for marine fuel customers across the region.”

 Gary Scott, CEO at Scott Petroleum, said: “We are excited about our partnership with TFG Marine. The new venture will form a strong force to expand the bunker service being offered in Jamaica and will be able to capture other opportunities that exist in the region”

 Note: For inquiries regarding TFG Marine’s new vessel supply services in the region in collaboration with Scott Petroleum, contact [email protected] or [email protected]

 

Photo credit: TFG Marine
Published: 15 May, 2025

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