The Changing Waves of the Shipping Industry

The Changing Waves of the Shipping Industry

Sea transport is relatively eco-friendly as it only accounts for 3 to 4 percent of total global gas emissions. However, most ships are fueled by low-grade bunker fuel, or heavy fuel oil (HFO), that contains 3,500 times more sulfur than diesel for cars, making the shipping industry the biggest emitter of sulfur dioxide (S02). At current emission levels, the shipping industry will account for 17 percent of total global emissions by 2050. Compared to more common methods of transportation, the shipbuilding industry still lags behind in technology for a sustainable future. Why is the Shipbuilding Industry Behind in Technology? The advent of container ships dates back to 1956. About a decade later in the 1970s, there was a boom in...

Megatrends Shaping the Future of the Steel Industry

Asian Steel Watch: Megatrends Shaping the Future of the Steel Industry

The latest issue of POSCO Research Institute’s Asian Steel Watch highlights megatrends that will shape the future of the steel industry. These megatrends, which originate from the four largest steel consuming industries – construction, automotive, shipbuilding and energy – will play a crucial role in steel demand, steel products and steel production process. Megatrends in the Largest Steel-Consuming Industries The steel industry has been propelled by four drivers of the steel-consuming industries: urbanization, motorization, globalization and industrialization. These drivers will influence product/investment demand and steel intensity, which refers to steel demand divided by construction investment, in respective industries. These drivers, a.k.a. megatrends, which are divided into ongoing trends and emerging trends, are those that can be observed over at least...

A Breath of Fresh Air: G20 Leaders Strive to End Air Pollution

A Breath of Fresh Air: G20 Leaders Strive to End Air Pollution

At the 2017 G20 Summit in Hamburg, Germany on July 7th and 8th, a hot topic for world leaders and protesters alike was the unilateral withdrawal of the U.S. from the Paris Climate Accord. The rest of the 19 countries reaffirmed their commitment to the Paris Climate Accord during the Summit as the consensus is that climate change is happening and governments and corporations have to cooperate to reverse the damages done to the environment, or at least slow it down. More specifically, air pollution caused quite a scare in recent years with the emergence of particulate matter (PM), also known as micro dust. A new type of PM is fine enough to enter the lungs, bloodstream and eventually the...

Ask An Expert How POSCO GIGA STEEL Frames the G4 Rexton

Ask an Expert: How POSCO GIGA STEEL Frames the G4 Rexton

Ssangyong Motors debuted their G4 Rexton SUV on March 30th of this year, at the 2017 Seoul Motor Show. The new SUV received five stars for collision safety from the Korean New Car Assessment Program (KNCAP) and is generating plenty of attention. A notable feature of the G4 is its quad frame body on chassis made of POSCO GIGA STEEL. These days, most SUVs opt for a monocoque frame because it requires less materials, and thus is lighter. However, Ssangyong chose to stick with their signature frame body to enhance safety and driving performance. In order to achieve high strength without adding extra weight, they applied POSCO GIGA STEEL to 81.7 percent of their frame. The Steel Wire spoke to...

Why POSCO's 1H17 Performance is Worthy of Applause

Why POSCO’s 1H17 Performance is Worthy of Applause

This year, POSCO has plenty to celebrate. Last month in June, POSCO was named the World’s Most Competitive Steelmaker for the 7th year in a row by World Steel Dynamics, a global steel information service provider. It received the highest points for five categories: technology innovation, cost reduction, labor proficiency, restructuring and investment environment. Also, according to World Steel Figures 2017, POSCO is the 5th largest steel producer in the world. POSCO continues to contribute to the growing steel industry by producing large amounts of high-quality steel for its partners, and has its sights on non-steel businesses as well. The continued efforts to stay ahead of global trends, provide solutions to partners as well as to produce the highest quality...

GM Korea & POSCO A Partnership for Innovation

GM Korea & POSCO: A Partnership for Innovation

POSCO works closely with its partners to provide customized solutions for their products. One of POSCO’s biggest partners is GM Korea, and their auto-steel partnership goes back 15 years. On May 30th, as part of POSCO’s Solution Marketing 2.0 initiative, GM Korea representatives visited POSCO’s Global R&D Center in Incheon to take part in various programs. This event follows the successful launch of the 2017 All New Chevrolet Cruze made with POSCO GIGA STEEL. GM Korea’s representatives were invited to take part in a fatigue test, a high-speed crash test as well as to tour of the labs and discuss Chevy’s All New Cruze. The 2017 All New Chevrolet Cruze GM Korea released its 2017 All New Chevy Cruze earlier...

High Manganese Steel for Limitless Innovations

Five High Manganese Steels for Limitless Innovations

POSCO’s five types of High Manganese Steel (HMS) are innovative solutions to various industries’ material and technological limitations. HMS is a mixture of iron and high levels of Manganese. In precise ratios, the steel alloy will have properties such as wear-resistance, high formability and non-magnetism. These developments are significant for the applicable industries because Manganese is lower in material and production costs than other types of alloying elements with similar properties. This means manufacturers can cut back on the cost of production without compromising the quality of steel. Here’s a close look at the 5 types of HMS and how each can lead to innovations in its respective industry. High Mn Steel for Slurry Pipes (PosM_XD) POSCO’s HMS for slurry...

Will Artificial Intelligence Lead to Breakthroughs in the Steel Industry

Will Artificial Intelligence Lead to Breakthroughs in the Steel Industry?

POSCO has been named the world’s most competitive steelmaker for eight years in a row. With the focus to provide advanced steel solutions as well as maximize its non-steel sectors, POSCO has become a leader in innovating manufacturing processes. Since the beginning of last year, POSCO has been expanding its investments in smart factories by incorporating advanced artificial intelligence (AI) and IoT technologies into its manufacturing processes. With the emergence of the 4th industrial revolution as a hot topic of the world economy, AI is expected to drive manufacturing innovation by providing breakthroughs in smart factories. In his recent POSCO Issue Report, Kim Ho-In, a senior researcher at POSRI, examined what innovations AI can bring to the upgrowth of smart...

Sustainability Report on the Steel Industry Shows Shortcomings & Strengths

Sustainability Report on the Steel Industry Highlights Gaps and Strengths

The steel industry currently contributes around 6-7% of global greenhouse gas (GHG) emissions, considered by many to be one of the main causes of global warming. While many governments and businesses around the world remain committed making the appropriate changes to their production lines to see no more than a 2 degrees Celsius increase, the steel industry is lagging behind other industries in developing methods to meet these goals. In its October 2016 “Nerve of Steel” report, the Carbon Disclosure Project, or CDP, found that steel companies had quite a ways to go in order to meet targets set by the Paris Agreement – the industry as a whole would need to reduce emissions by 70% by 2050. While their...

Ask an Expert How Steel is Constantly Evolving

Ask an Expert: How Steel is Constantly Evolving

Park Jong-jae, a motorsport columnist, explores how POSCO GIGA STEEL provides an ideal solution to today’s evolving automotive industry in part three of his POSCO GIGA STEEL series. Compared to the world’s very first cars, today’s cars are faster, stronger, safer and have more sophisticated designs. As alternative materials like aluminum are increasingly being used for car parts that were originally made of steel, some even refer to this trend as a “material war.” “Material War” in the Auto Industry Recently, various substitutes for steel have entered the picture and are being applied in commercial vehicles. The most commonly used materials are aluminum and CFRP (Carbon Fiber Reinforced Plastic). Beginning in the 1930’s, aluminum was primarily used as a lightweighting...

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