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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 $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 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.


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


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)


World’s Greenest Containership Comes under Malta Flag

MV Barzan. Pic by United Arab Shipping Company (UASC)

 MV Barzan, a vessel recognized as the world's most environmentally friendly ultra-large container vessel, has been registered on the Malta flag.   MV Barzan is one of 17 (11 x 15,000 TEU and 6 x 18,800 TEU) advanced used containerships built by Hyundai Heavy Industries for United Arab


Trelleborg Provides Floatover Tech to Project in West Africa

Photo: Trelleborg

Trelleborg’s engineered products operation has completed its supply of floatover equipment for Phase 3 of the DSO Escravos Gas Project; the operation’s first floatover in West Africa.   Contracted by Hyundai Heavy Industries (HHI)


Hyundai Heavy Delivers 2,000th Ship

Photo: Ocean BlackLion, 2,000th Ship HHI Delivered

 Hyundai Heavy Industries (HHI) has become the world's first shipbuilder to deliver its 2,000th ship. The world's largest shipbuilding company delivered a drillship, "Ocean BlackLion," to U.S. oil drilling firm Diamond Offshore at the Ulsan shipyard Friday.  


HHI Launches Korea’s Second Minelayer

Korea’s Second Minelayer, MLS-II Nampo (Photo: HHI)

Shipbuilder Hyundai Heavy Industries (HHI) launched the second minelayer, MLS-II Nampo, for the Korean Navy.   In attendance at the MLS-II launching ceremony were Baek Seung-joo, Vice Minister of National Defense of Republic of Korea; Kwon Oh-gap


Seaspan Takes Delivery of New Containership

Image: Seaspan Corporation

 Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co., Ltd., is Seaspan's second 14000 TEU SAVER design containership and third delivery in 2015.  


ABB Improves Efficiency of World’s Largest Ships

MSC Oscar (Photo courtesy of ABB)

ABB Turbocharging helps improve engine performance on record- breaking containerships   ABB has designed turbochargers powering the largest ships in the world. First came the China Shipping Container Lines (CSCL) Globe with capacity of 19,100 TEU completing its maiden voyage in February 2015


UASC Umm Qasr Named ‘Green Ship of the Year’

UASC Umm Qasr (Photo: Hyundai Samho Heavy Industries)

The 9,000 TEU containership UASC Umm Qasr was designated “Green Ship of the Year” by the Maritime & Port Authority of Singapore.   Built by Hyundai Samho Heavy Industries (HSHI), a shipbuilding affiliate of Hyundai Heavy Industries (HHI), the containership


MacGregor Delivers Major Winch for Korean Heavy Lift Barge

MacGregor 90 tonne electric main hoisting winch

Following an order announced in October 2013, MacGregor, part of Cargotec delivered and commissioned 45 variable frequency drive (VFD) winches and a full control system for the recently completed heavy-lift crane barge Hyundai HLV-10000, one of the largest heavy lift vessels in the world.


UASC Names Ultra-large LNG-ready Containership

M.V Barzan (Image courtesy of USAC)

United Arab Shipping Company (UASC) named container vessel M.V. Barzan at Hyundai Samho Heavy Industries (HSHI), Mokpo South Korea today. The ship, the largest in UASC’s fleet to date, is part of the industry’s first LNG-ready ultra-large container vessel fleet.  


Hyundai to Build LNG Regasifying Ship for Gazprom

Lena River gas carrier. Photo: Gazprom

 South Korea's Hyundai Heavy Industries has won the Gazprom Flot tender for the construction of the Kaliningrad floating LNG terminal, Gazprom said.   It will build a floating liquefied natural gas terminal in the western Russian city of Kaliningrad for $295 million.  


Daewoo Bags Big Maersk ULCS Order

Image: Daewoo Shipbuilding & Marine Engineering

 AP Moller-Maersk has returned to South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering for its latest series of ultra-large container ships (ULCS), reports The Korea Economic Daily.   The total contract to build 11 ultra-large containerships is worth US$1.7 billion


HHI to Industrialize GTT’s Mark V Technology

GTT (Gaztransport & Technigaz) has signed a cooperation agreement with the South Korean Shipbuilder Hyundai Heavy Industries (HHI) for the industrialization of GTT’s new Mark V technology.   A similar partnership was signed a few weeks ago between GTT and Samsung Heavy Industries


Korean Shipyards Bullish on Mega Vessels

20,000 teu vessel Pic by MOL

 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


Indian Prime Minister Visits HHI

Indian Prime Minister Narendra Modi at HHI (Photo: HHI)

Indian prime minister Narendra Modi visited Korean shipbuilder Hyundai Heavy Industries (HHI), seeking increased partnership between the India’s shipbuilding industry and HHI.   HHI is reportedly the only Korean company the prime minister visits during his two-day stay in the country


Marlink VSAT to Connect MV Brazen

MV Brazen (Photo: UASC)

The world’s first 18,800 TEU LNG-ready ultra-large containership, M.V. Barzan, was recently named at a ceremony in South Korea. MV Barzan is one of 17 (11 x 15,000 TEU and 6 x 18,800 TEU) advanced new containerships built by Hyundai Heavy Industries for United Arab Shipping Company (UASC)






 
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