Hyundai Heavy Industries Co. last week posted a more-than-fivefold increase in second-quarter net profit amid higher ship prices and lower steel costs. Hyundai Heavy reported net profit of $200m in the three months ended June 30. Hyundai Heavy received $5.01 billion worth of new shipbuilding and offshore structure orders in the January-June period. Its backlog orders totaled 236 vessels valued at $19.8 billion at the end of June, which will occupy its dockyards for next three years, the Houston Chronicle reported. (Source: Houston Chronicle)
South Korea's Hyundai Heavy Industries, the largest shipbuilder in the world, reported a first-quarter loss on Friday after it was hit by losses at sister firm Hyundai Petrochemical. But Hyundai Heavy said it would chalk up large profits by the end of the year, as a flood of backlogged orders would keep the yard busy for the next two and a half years. Hyundai Heavy said it incurred a 81.9 billion won ($62.92 million) net loss during the January-March period, compared to a net profit of 42
Hyundai Heavy Industries Co. won a $300 million order for five container ships from Japanese ship operator Kawasaki Kisen (K-Line). Hyundai Heavy officials said the container ships will be 5,600 teu each. They are to be delivered in the second half of 2001.
Hyundai Heavy Foreign Ship Orders At $440M South Korea's Hyundai Heavy Industries Co. won $440 million in foreign shipbuilding orders for 11 vessels so far this month. The details are as follows: -Taiwan's Yangming Marine Transport Corp. ordered two 5,500 teu container carriers -A Greek shipping firm ordered two 172,000 dwt bulk carriers -An Indian shipping firm ordered one 75,000 dwt bulk carrier -South Africa's Safbulk ordered four 172,000 dwt bulk carriers
Hyundai Heavy Industries Co. won $400 million in orders from Greece to build five containerships and four bulk carriers. Hyundai Heavy said the 5,500 TEU containerships will be delivered to Greece's Costamare Shipping Co. between late 2000 and the first half of 2001. The bulk carriers, all 75,000-gt class, are scheduled for delivery to Arcadia Shipmanagement Co. of Greece by the end of 2001. Hyundai Heavy said with the orders from Greece its shipbuilding orders this year rose to $2
Hyundai Heavy Industries Co., Ltd. disclosed that it had signed a Memorandum of Understanding with Baoshan Iron & Steel Co., Ltd. to import wide and heavy plates for shipbuilding. Hyundai Heavy Industries plans to import 180,000 tons of steel plates from Baosteel yearly. Both declined to disclose the price of the deal to keep trade secret. Hyundai Heavy Industries said that the price was lower than that offered by Japanese steelmarkers and a South Korean report said that South Korea would
South Korea's Hyundai Heavy Industries has reportedly signed a memorandum of understanding with Overseas Shipholding Group Inc. to build two 308,000-ton VLCCs. A Hyundai official said the ship prices were confidential. The ships will be 335 meters long, 31 meters deep and 58 meters wide, and will be delivered between August 2001 and January 2002, Hyundai officials said.
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
Hyundai Heavy Industries Co., reportedly won a $843m deal to build six container ships, according to a report on www.kois.go.kr. According to the report, Hyundai will deliver the vessels by May 2011. This year, Hyundai Heavy plans to deliver 134 ships, and expects to win $27.4b worth of orders. (www.kois.go.kr)
Hyundai Heavy Industries, the world’s largest shipbuilder, won a $600 million order to build two 155,000 m3 LNG carriers, including an option for another same class vessel, from Greece-based Dynagas Ltd. These membrane-type LNG carriers are due for delivery in the second half of 2013. They will feature the Dual Fuel Diesel Engine System which allows the ship to run on oil fuel or natural gas. Due to tightening global regulations on carbon emissions
Hyundai Heavy Industries (HHI), world’s largest shipbuilder, signed memorandum of understanding (MoU) with Hindustan Shipyard Limited (HSL) to build submarines for India as part of a 40-year program to strengthen the nation’s naval forces.
ABS has awarded approval in principle (AIP) for Hyundai Heavy Industries' next-generation HD12000 heavy duty, wide beam drillship design. The drillship, which can accommodate a 20,000-psi blowout preventer system, has been designed in full compliance with the ABS Guide for the
Malaysia’s MISC Bhd and parent Petroliam Nasional Bhd (Petronas) have agreed to build new liquefied natural gas (LNG) carriers worth US$1.1 billion and charter them to another unit owned by the national oil and gas company for up to 20 years.
Hyundai Heavy Industries to add 10,000 ton heavy lift vessel to its offshore facility-building infrastructure legion Shipbuilder and offshore facilities contractor Hyundai Heavy Industries Co., Ltd. (HHI) informs that its shipbuilding affiliate, Hyundai Samho Heavy Industries
Becker Marine Systems delivers rudder for the largest container ship in the world At 19,000 TEU, the largest container ship in the world is now picking up speed – with a high-performance rudder from the Hamburg-based company.
Hyundai Heavy Industries (HHI) announced today that its management and labor union concluded the negotiation on the wage and collective bargaining agreement for the year 2014. According to the tentative agreement, HHI employees would receive a basic pay of 37,000 won
Can pain in the China's ship building industry the gain for South Korea? Will 2015 save Korea's major shipbuilders which had a pretty tough time in 2014? Korea's major shipbuilders had a pretty tough time in 2014. Out of the country's three major players
Hyundai Heavy Industries opens 2015 with the simultaneous naming ceremony of two 10,000 TEU containerships Hyundai Heavy Industries (HHI), hailed the New Year by naming two 10,000 TEU containerships for a Greek shipping line, Oceanbulk Maritime SA.
Kwon Oh-gap, president and chief executive officer of Hyundai Heavy Industries (HHI), issued a New Year’s address, highlighting the company’s challenges and goals for 2015. As cited by HHI’s president, among the companies top challenges are “persisting global
Dorian LPG Ltd. reported that on January 2nd it took delivery of the ECO VLGC "Corvette" from Hyundai Heavy Industries. "Corvette", Dorian's third newbuilding delivery, will initially trade in the spot market and is the first of 15 deliveries that the Company expects in
The world’s largest container ship CSCL Globe arrives on her first visit to Europe at the Port of Felixstowe today - with hundreds of people expected at viewing points to witness the occasion. The world’s largest container ship arrives on her first visit to Europe to
Wärtsilä reports that its first X62 two-stroke engine has successfully passed its design validation, type approval tests and necessary sea trials, and is therefore ready for full market availability. The Wärtsilä X62 is the latest in Wärtsilä's X-Generation of
Hyundai Heavy Industries Co., Ltd. (HHI) has built and delivered the world’s largest containership, the first of five 19,000 TEU containerships ordered from China Shipping Container Lines (CSCL) in May 2013. The first containership in the series was named CSCL Globe, and it measures 1312
The 208,000 DWT Bulk Carrier Linda Oldendorff built at Hyundai Heavy Industries Co., Ltd. (HHI) was delivered to Oldendorff in Germany on September 30, 2014. It is the first in a series of six. The vessel has flush deck with forecastle, bulbous bow, transom stern
To improve efficiency Korea’s Hyundai Heavy Industries (HHI) announced its intention to merge its plant division into the offshore business. The world's biggest shipbuilder said that they will take place after current projects are completed.