Hanjin Heavy Industries Co. reportedly won $160 million in contracts from Germany to build four container vessels.
Danaos Corporation (NYSE: DAC) announced that it has entered into an agreement with Hanjin Heavy Industries & Construction Co. Ltd. to cancel three 6,500 TEU newbuilding containerships, initially expected to be delivered in the first half of 2012. The agreement has been reached with the consent of Yang Ming Line who was the charterer of these vessels. Danaos is building another six large containerships with Hanjin Heavy Industries and Construction Co. Ltd
According to a report from the Korea Times, Hanjin Heavy Industries and Construction (HHIC) imposed a lockout at its main shipbuilding yard and factories Feb. 14, in reaction to a strike against a layoff plan by its union that started on Dec. 20. The company plans to make 190 employees redundant today as it previously announced. (Source: Korea Times)
STX Pan Ocean has ordered an LNG carrier from Korean shipbuilder Hanjin Heavy Industries and Construction. The vessel will be built at a cost of $215 million. Delivery is expected before 2010. STX Pan Ocean recently reported a 71 percent jump in full-year earnings to $279.8 million on a 20 percent increase in sales to $2.7 billion. Source: ChannelNewAsia
According to a report from The Chosun Ilbo, the labor union of Hanjin Heavy Industries and Construction's shipbuilding unit agreed on June 27 to end a strike that has lasted for over six months. The company will not rehire laid-off workers, but will compensate them if they voluntarily retire. Both sides also agreed to drop the legal cases against each other. Source: The Chosun Ilbo
Virginia Beach, Va. - Huntington Ingalls Industries announced that its subsidiary, AMSEC, has signed an agreement with Hanjin Heavy Industries and Construction Philippines Inc., a subsidiary of HHIC Holdings Co. Ltd., to work together in providing maintenance, repair and logistics services to the U.S. Navy and other customers in the western Pacific region. The agreement with HHIC-PHIL allows AMSEC to benefit from Hanjin's state-of-the art shipyard at Subic Bay, Philippines
Hanjin Heavy Industries is trying hard to retain its leadership by reviving the shipyard in Subic Bay, the Philippines. Since running at full capacity in 2009, the Subic Shipyard has won orders continuously, surpassing $5 billion dollars in sales in 5 years HHIC-Phil’s Subic Shipyard is the largest shipyard in the Philippines with 300 ha in total area, which opened in Subic Bay in 2009. In just five years
Korean shipbuilders occupied seven out of the top 10 positions in the world last month in terms of orders. Hyundai Heavy Industries was the world’s largest shipyard in terms of order backlog as of late June with 11.74 million compensated gross tons (CGT), British shipbuilding market researcher Clarkson reported. Samsung Heavy Industries came second with an order backlog of 8.27 million CGTs, followed by Daewoo Shipbuilding & Marine Engineering (DSME) with 7
Danaos Corporation secured 18 year bareboat charters for each of two 6,500 TEU containerships. These vessels are part of the recently placed order with Hanjin Heavy Industries & Construction Co., Ltd. and are expected to be delivered to Danaos in 2009 and 2010. Danaos Corporation also announced that it delivered the bulk carrier Achilleas to Shanghai Time Shipping Co. Ltd. according to schedule. The delivery of this drybulk vessel to their new owners brought proceeds of $25
Hanjin Heavy Industries & Construction's Philippine Shipyard wins contract to build mid-size container ships for European owners Despite the current global economic slowdown, Hanjin Heavy Industries & Construction (HHIC)-Phil's Subic Shipyard has won a bid to build mid-size container ships for the first time this year. The shipbuilder recently announced that it has signed a USD 450 million contract to build ten 5
Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), which operates the world's fourth shipbuilding facility in Subic Freeport Zone, unveiled the first-ever Philippine-made Liquefied Petroleum Gas (LPG) carrier. The ship was ordered by Belgian shipping company Exmar
South Korea's leading shipping line Hanjin Shipping has returned to the black in the first half with a profit of KRW127.2bn ($109.87m), erasing the loss of KRW424.2bn in the year-ago period. Net profit came to 104.26 billion won (US$89
Sohar Port and Freezone has added South Korea’s container line Hanjin Shipping to its list of global shipping lines offering direct links to this Omani deepsea port. Hanjin started its container service to Sohar from Far East
Hanjin Group opened its creative economy innovation center in Incheon on Wednesday, hoping to develop the city into a distribution hub of Northeast Asia utilizing advanced shipping technologies. As part of the center, Hanjin created a fund worth 159 billion won ($138 million)
The first in a series of 'mega-class' container vessels being built for French Ship owner CMA CGM will be powered by the Wärtsilä X92, low-speed, 2-stroke engine. The vessel is to be built by Hanjin Heavy Industries & Construction (HHIC) in Subic Bay, Philippines
Caterpillar Marine has announced Cat power solutions have been selected to power 16 new build Patrol Boats for the Republic of Korea Navy (ROKN). Each Patrol Boat will be equipped with two Cat C32 main propulsion diesel engines and two Cat C9 ship service diesel generators
As the construction of ultra large container ships gained momentum, Korean shipyards are sweeping up the market, according to a report appeared in Business Korea. Total orders of 21 container ships exceeding 20,000 TEU in capacity were placed globally from the end of last year to
South Korea's leading shipping line Hanjin Shipping Co has swung to the black in the first quarter from a year earlier thanks to lower fuel costs and better streamlined shipping routes. Net profit came to 22.91 billion won (US$21 million) in the January-March period
Suez Canal Authority said it controlled a blaze in a British container ship passing the waterway Friday, leaving no human losses. An ultra-large container ship owned by Hanjin Shipping caught fire while underway just south of the Suez Canal on 1 May.
Greek ship-owner Costamare and US-based hedge fund York Capital Management are considering extending the life of their investment joint venture that has already spent more than $1 billion on new and secondhand container ships.
HANJIN Heavy Industries & Construction (HHIC)-Phil’s Subic Shipyard hit the jackpot bids. On April 20, the company said that it signed a deal to build six 11,000-TEU containerships for European and Asian shipping companies.
China's shipping and ports giant China Cosco Holdings is planning to order at least 10 Triple-E megaships capable of moving 19,000 containers apiece as the shipping and port giant seeks to dominate major ocean trade routes, The Wall Street Journal reported, citing unnamed sources.
South Korean shipbuilder Hanjin Heavy Industries confirmed newbuild orders Monday for three ultra-large container ships from CMA CGM. Plans for the 20,600 TEU ships were first revealed by CMA CGM last month, but the details of the order had not yet been finalized.
CMA CGM, the world's third-largest container shipper, announced on Monday plans to order three giant vessels and said higher volumes and profit last year showed its focus on economies of scale was bearing fruit. Like market leader Maersk Line
South Korean shipping company Hanjin Shipping will be terminating its service with the city, said Port of Portland officials. But the port’s largest container carrier will continue to use rail and truck transportation. Hanjin Shipping notified the port and customers it will