HD Hyundai to supply shaft generator for Middle Eastern firm

Quick Summary:

South Korea's HD Hyundai Marine Solution Co.secured a $37 million contract to supply shaft generator systems for 17 liquefied natural gas (LNG) carriers operated by a Middle Eastern shipping company, the company announced on Sunday.

According to market research firm Business Research Insights, the shaft generator system market is projected to grow from $245.81 million in 2022 to $365.8 million by 2028, at a compound annual growth rate (CAGR) of 6.85%.

Shaft generator systems generate electricity by harnessing part of the rotational power from a ship’s main propulsion engine.

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Article Details

Category: Economy

Markets: South Korea

Topics: Hyundai Shaft Korea Generator Carriers Million Company Systems Marine Market Liquefied

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-23 @ 11:10:51 (6 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 193 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 13 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 22647105

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