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Hyundai Heavy

Hyundai Heavy Industries Says Profit Up

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)


Hyundai Heavy Reports 1Q Loss

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 Gets $300M Order

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

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 Wins Bulker, Containership $400M Deal

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, Baoshan Sign MoU

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


Hyundai Heavy To Build Two VLCCs

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 Place in Top 10 for June Orders

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 Wins $843m Order

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 $600M Order for LNG Carriers

* Photo: Abdelkader, LNG Carrier Hyundai Heavy built and selected as one of the world’s best ships in 2010.

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 Develops HiCASS

HHI’s engineers are testing the Hyundai Intelligent Collision Avoidance Support System

Hyundai Heavy Industries Co., Ltd. (HHI) announced today that it developed Hyundai Intelligent Collision Avoidance Support System (HiCASS) for the first time in Korea to ensure safe and optimum navigation of the vessels. The system searches the optimum sea routes and prevents collisions by


Wilhelmsen Secures Inert Gas System Orders

Breakthrough order in Japanese shipbuilding market sees largest ever capacity Maritime Protection IG units delivered for leading domestic owners. Wilhelmsen Technical Solutions (WTS) has secured multiple orders to supply its Maritime Protection Dry Inert Gas Generator (DIGG) systems for


Dorian LPG MoU with HNA Logistics

Dorian LPG  Strategic Relationship with HNA Logistics

  Dorian LPG Ltd. a leading owner and manager of modern VLGC's (very large gas carriers), today announced that it has entered into a Memorandum of Understanding ("MOU"), with HNA Logistics Group Co., Ltd.  to explore opportunities in the liquefied petroleum gas logistics market


LNG Carriers GasLog Financial Results Q2 2014

Image courtesy of GasLog

GasLog Ltd. and its subsidiaries, an international owner, operator and manager of liquefied natural gas carriers, has reported its financial results for the quarter ended June 30, 2014, excerpted as follows: Highlights Completion of the initial public offering (“IPO”) of


ABS to Class Innovative Moss-type LNG Carriers

Patrick Janssens (Photo: ABS)

To be built in Ulsan, Korea, the ships will feature energy efficient reheated steam turbine engines. ABS, a provider of classification and technical services to the maritime industry, has been awarded a contract for the classification of two innovative 'Moss-type' LNG carriers to be built in


Global Ocean Trade Shipbuilding Orders

File image

Another relatively quiet week with no reports of new shipbuilding orders in either the dry bulk and tankship markets, remarks Clarkson Hellas in its latest S&P Weekly Bulletiln. Gas carriers Odfjell Gas Carriers declared their options for four 22


UASC Signs Credit Facility for Two Containership Newbuildings

Principals at signing ceremony: Image UASC

United Arab Shipping Company S.A.G. (UASC) informs it has concluded a bilateral facility worth USD 190 million with Burgan Bank’s Corporate Banking Group to finance the acquisition of two 14,000 TEU vessels from among UASC's new building order of 17 vessels comprised of eleven 14


South Korean Shipyard to Build Two More LPG Carriers

Gas Carrier Foredeck: File photo

Leading South Korean shipbuilder Hyundai Mipo Dockyard Co., has won a US$102-million order from a Singaporean company to build two LPG carriers, according to Yonhap News Agency. Hyundai Mipo, a subsidiary of Hyundai Heavy Industries Co., said it will start building the vessels from March 2016


DNV GL Leads New LNG Carrier Concept Project

DNV GL announced the initiation of a new joint industry project (JIP) to define the state-of-the-art next-generation LNG carrier. According to DNV GL, the aim is to develop a new LNG carrier that has a significantly improved environmental footprint and is more energy efficient and better suited


MacGregor Wins $50m Cargo Handling Order from HHI

MacGregor believes it is time to think differently, overturning the long-held assumption that cargo profile, cargo handling and cargo securing are considered only at the end of the main ship design process

Cargotec's MacGregor secures $50 million of orders for further high efficiency cargo handling solutions from Hyundai Heavy Industries (HHI) MacGregor, part of Cargotec, said it has received further orders, worth around $50 million, for optimized cargo handling systems from Hyundai Heavy


Hamburg Süd Christens New Containership

Hamburg Süd today christened its new containership Cap San Raphael in the presence of 700 guests at the Burchardkai Terminal in the Port of Hamburg. The ship’s Sponsor is Ingeborg Schäuble, former Chair of the German Welthungerhilfe and wife of the German Finance Minister, Dr


Durastic Supplies North Sea Oil Platform in Korea

John Gallagher

Marine flooring manufacturer Durastic has supplied a range of its specialist products to Hyundai Heavy Industries in South Korea to help build a major new North Sea oil platform for BP. Durastic, which has sites in Liverpool, Jarrow and Southampton, U.K


HHI to Build Two LNGCs for GasLog

Gaztransport & Technigaz (GTT) announced the notification of two Liquefied Natural Gas Carriers (LNGCs) which will be built by the Korean shipbuilder Hyundai Heavy Industries (HHI).  GasLog, a Monaco-based shipping company, has ordered two large-scale LNGCs from the shipbuilder


Hyundai Heavy Industries Wins $1.94 Bln Order in UAE

Umm Shaif Offshore Oil Production Facilities HHI Awarded from ADMA-OPCO in 2006

  Hyundai Heavy Industries Co., Ltd. (HHI), the world’s biggest shipbuilder and a leading offshore facilities contractor, announced today that it received a Letter of Award (LOA) for a USD 1.94 billion order for the second package of the Nasr Full Field Development Project to build the


Kongsberg Tech Chosen for 13 Newbuild Projects

KM_Full_PIcture_July14.jpg

Kongsberg Maritime’s Full Picture solution has been selected by Chinese and Korean shipbuilders for 13 advanced newbuild offshore vessels with a total value of 330 MNOK. Dalian Shipbuilding Industry Offshore Co. (DSIC), CIMC Raffles (CIMC)






 
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