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
Collaboration will help shipbuilding company offer built-in digital technologies to improve operational efficiency and decision making processes for ship owners Shipbuilder Hyundai Heavy Industries is collaborating with technology service provider Accenture to design a ‘connected smart ship’ that aims to enable ship owners to better manage their fleets and achieve potential operational savings through the application of digital technologies.
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 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 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 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 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 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
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.
Rig firm Fred. Olsen Energy and South Korean yard Hyundai Heavy Industries settle dispute over construction of semi-submersible rig Bollsta Dolphin. Shares in Fred. Olsen Energy up 17 percent at 0736 GMT on the news, after rising 37 percent at the opening of the Oslo bourse
In a bid to help South Korean local shipyard weather their worst-ever slump, the State-run Korea Gas Corp. (KOGAS), the world's largest LNG importer, will soon place shipbuilding and maintenance orders with them, says a report by Yonhap.
According to a report by Korea Economic Daily the number of workers who left Korea's top-three shipbuilding companies - Hyundai Heavy Industries, Samsung Heavy Industries, and Daewoo Shipbuilding & Marine Engineering - in the first half of this year is estimated at around 5,000.
Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement plan is good enough for HHI to make operating profits and secure liquidity even in the worst case scenario.
Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, has won an order to build a 23,000 ton class logistics support vessel for New Zealand Defence Force’s Maritime Sustainment Capability (MSC) project.
Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and a leading industrial plant EPC contractor,won $101.6 million worth of order to supply two vacuum vessel sectors (No.7, 8) for ITER (International Thermonuclear Experimental Reactor).
A group of South Korean companies including shipbuilders have come together to establish an association dedicated to developing liquefied natural gas (LNG) bunkering facilities and infrastructures including LNG-fueled vessels, says a report in the Pulse.
South Korean shipbuilder Hyundai Heavy Industries said on Wednesday that its affiliate aims to sell its brokerage unit Hi Investment & Securities by the end of this year. The affiliate, Hyundai Mipo Dockyard, holds an 85 percent stake in Hi Investment & Securities.
The world’s largest shipbuilder has launched an initiative with several industry partners that aims to help small and medium-sized ICT companies develop software for smart shipping, a so-called Eco System for Smart Ships. Under the Memorandum of Understanding
The Korean shipbuilding industry has plunged into a deep crisis as the big three —Daewoo, Hyundai Heavy, and Samsung Heavy—posted record combined losses in 2015, and 2016 looks no better. Added to the woes, Korean shipbuilders’ orders in the first half of this year
DNV GL welcomed the Unique Shipping Group’s new vessel Oriental Jubilee into class when it was christened in Ulsan, Korea recently. The 84,000 cu. m. LPG carrier was built by Hyundai Heavy Industries (HHI) in Ulsan and is the first vessel to be awarded the DNV GL SCRUBBER READY notation
The Nigeria Liquefied Natural Gas Limited (NLNG) will this month receive the last of the six new vessels it bought for the transportation of liquefied natural gas (LNG) to various parts of the world, says a report in The Nation.
DNV GL has initiated a joint industry project for the design of a state-of-the-art next generation LPG carrier. LPGreen aims is to develop a more energy efficient, environmentally friendly, and safer vessel for the transportation of LPG products
South Korea will pump $9.5bn (11 trillion won) into state-run policy lenders reeling from huge losses on loans made to the beleaguered shipbuilding and shipping sectors to help them deal with further corporate distress, says FT.
South Korea's government and central bank will create an 11 trillion won ($9.50 billion) fund to support two state-run banks most exposed to the country's struggling shipping and shipbuilding firms. "Our key industries like shipping and shipbuilding are being aggressively caught up