Hyundai Mipo Dockyard Co News

MacGregor, part of Cargotec, said Wednesday it had received a significant order to supply comprehensive packages of RoRo equipment for two PCTC vessels to be built by Hyundai Mipo Dockyard Co. Ltd in South Korea.The vessels are scheduled to be delivered to the owner between the second quarter of 2026 and the third quarter of 2026. MacGregor’s scope of supply encompasses the design, supply, and installation support of complete hardware for both vessels, including a quarter ramp…

Container ship operator Euroseas said Tuesday it had agreed to buy  M/V Seaspan Manila and M/V Seaspan Melbourne intermediate size container vessels with a capacity of 4,250 TEU each, built in 2007 and 2005, respectively.The vessels are being acquired for a combined price of $37 million. Euroseas will also assume the existing charter arrangements of the vessels. Both acquisitions will be initially financed with the company’s own funds.Aristides Pittas, Chairman and CEO of Euroseas said:"We are pleased to announce the acquisition of M/V Seaspan Manila and M/V Seaspan Melbourne, two intermediate containerships built in 2007 and 2005, respectively, along with their existing approximately two years and three quarters long charters.

Shipowner Euroseas announced on Monday it has signed a contract for the construction of three 1,800 TEU feeder containerships from Hyundai Mipo Dockyard Co. in South Korea.The vessels are scheduled to be delivered during the first half of 2024, including one in the first and two in the second quarter of the year.Euroseas said it expects to finance the approximately $102 million total consideration for the construction of the three vessels with a combination of debt and equity.Aristides Pittas, chairman and CEO of Euroseas, said, "We are pleased to announce the ordering of three modern LNG-ready eco-design containerships of 1,800 teu capacity each in one of the best quality shipbuilders in the world…

Greek shipowner Euroseas announced on Tuesday it has signed a contract for the construction of two additional 2,800 TEU containerships from at Hyundai Mipo Dockyard Co. in South Korea.The Eco design fuel efficient newbuilds are scheduled to be delivered during the fourth quarter of 2023 and first quarter of 2024, respectively. They will be sister ships to a pair of vessels ordered by Euroseas in June 2021.The total consideration for the two latest newbuilds is approximately $85 million, and Euroseas said it will be finance the deal through a combination of debt and equity.Aristides Pittas, Euroseas chairman and CEO, said, "The current contracts…

A team of maritime industry partners has set out to develop new liquefied CO2 carrier designs as carbon capture and storage (CCS) projects advance globally in support of net negative ambitions.“CCS has the potential to make a significant contribution to global emissions reduction strategies and safe and efficient transport of liquefied carbon is going to be key to realizing these goals," said Patrick Janssens, vice president for global gas at ABS, which has embarked on a joint development project (JDP) alongside Hyundai Mipo Dockyard Co., Ltd.

The Grimaldi Group said it signed an order contract worth more than $500 million for the construction of six new ro/ro multipurpose vessels at Hyundai Mipo Dockyard Co. Ltd (Ulsan) in South Korea.With a length of 250 meters, a beam of 38 meters and a deadweight of 45,684 tonnes, the six newbuilds  are expected to be delivered for Grimaldi's Neapolitan Group between the first months of 2023 and the end of 2024. The vessels will replace older 25-year-old-plus tonnage and will be deployed between North Europe and West Africa…

Saudi Arabian ship owner Bahri said it has taken delivery of the new Kamsarmax bulk carrier Sara, built by Hyundai Vietnam Shipbuilding (HVS), a subsidiary of Hyundai Mipo Dockyard Co. Ltd. (HMD).The 81,000 dwt vessel is the first in a series of four ordered by Bahri Dry Bulk from South Korea’s HMD in August 2017. The three remaining vessels are all scheduled to be delivered this year.The new ship will transport basic grains, such as wheat, barley, corn and other dry-bulk cargoes, for import into Saudi Arabia.The 229-meter newbuild increases the Bahri’s fleet of dry-bulk carriers to six ships.

Global ship repair and maintenance services market is expected to grow from USD 18.89 Billion in 2018 to USD 39.93 Billion by 2026 at a CAGR of 7.04% during the forecast period from 2019-2026.According to report published by Fior Markets, the key contributing factors for the market growth are increase in the demand for new ships and activities, shortening of supply chains in ship repair and maintenance services, increased seaborne trade against the backdrop of recent economic boom, increase in the production of vessels.The bulk carriers section is anticipated to remain leading in the global ship repair and maintenance services market with USD 4.12 billion.

South Korean shipbuilder Hyundai Heavy Industries (HHI) Group, which includes the world's largest shipyard, aims for a revenue of USD 15.9 billion in 2020.Yonhap News Agency said the combined target of Hyundai Heavy Industries Co., Hyundai Samho Heavy Industries Co. and Hyundai Mipo Dockyard Co. remains unchanged from last year’s goal.HHI said it aims to bag $8 billion worth of deals in 2020, according to the report.Hyundai Mipo Dockyard said in a regulatory filing that it aims to clinch deals worth $3.65 billion this year.In 2019, Hyundai Mipo Dockyard won orders worth $2.7 billion, achieving 76 percent of its annual order target of $3.53 billion.Hyundai Samho Heavy Industries said it aims to secure orders worth $4.25 billion this year.

TOP Ships, an international owner and operator of modern, fuel efficient ECO tanker vessels, announced that it has sold to unaffiliated third parties its two Medium Range (MR) 1 Product Tankers.According to a press note from the Greek company, the tankers are M/T Eco Fleet and the M/T Eco Revolution (each weighing 39,000 tons).The vessels are expected to be delivered to their new owners during January 2020, it said.Last month, the ship-owning company announced that it had acquired 100% of the issued and outstanding shares of Santa Catalina Inc. and Santa Monica Inc., which are Marshall Islands companies that have entered into new building contracts for two ultra-high specification scrubber-fitted 50,000 dwt MR product/chemical tankers under construction at Hyundai Mipo Dockyard Co., Ltd.

Greece-based international ship-owning company TOP Ships has acquired two ultra-high specification scrubber-fitted 50,000 dwt Medium Range (MR) product/chemical tankers under construction at Hyundai Mipo Dockyard Co., Ltd. in South Korea.The tanker owner stated in a press release that  it has acquired 100% of the issued and outstanding shares of Santa Catalina Inc. and Santa Monica Inc., which are Marshall Islands companies that have originally entered into new building contracts for the two tankers.The MR tankers are scheduled for delivery during February 2020, added the owner and operator of modern, fuel efficient "ECO" tanker vessels.TOP Ships has acquired the shares of both companies from an entity affiliated with its Chief Executive Officer…

Glenda International Shipping (GIS) signed a memorandum of agreement for the sale of MT Glenda Megan, a 47,147 dwt MR product tanker vessel, built in 2009 by Hyundai Mipo, South Korea, for a consideration of US$ 19.0 million.GIS is a joint venture company (JV) of the international marine transportation company operating in the product tanker d’Amico Tankers Ireland (a unit of d’Amico International Shipping S.A.) with the British–Swiss multinational commodity trading and mining company Glencore Group.According to a notification from d’Amico, this transaction allows Glenda International Shipping to generate around US$ 8.1 million in cash…

South Korea-based company engaged in the production and sale of ships, Hyundai Mipo Dockyard Co (HMD) has won a 163 billion-won (US$138 million) order to build two car carrier ships.According to a stock exchange announcement from the Hyundai Heavy Industries (HHI) unit, HMD will build the vessels by March 2022 for  a European shipper. It declined to identify the buyer.This is the first ro-ro order of this year for HMD.According to Yonhap, HMD posted sales of 705 billion won in the first quarter of the year, with its operating profit reaching 26.1 billion won. It secured $434 million worth of orders for 11 vessels in the first quarter.HMD primarily builds medium-sized conventional ships and specialized vessels.

Eco Tankers  has signed a memorandum of agreement for the sale of the MT High Sun, a 49,990 dwt MR product tanker vessel, built in 2014 by Hyundai MIPO, South Korea (Vinashin), for a consideration of US$ 28.7 million.Eco Tankers is a joint venture company with Venice Shipping and Logistics S.p.A., in which d’Amico International Shipping  (DIS) holds a 33% participation."This transaction will result in a profit on disposal and allows Eco Tankers to generate around US$ 12.8 million in cash, net of commissions and the reimbursement of the Vessel’s existing loan," said a press release from DIS, the international marine transportation company operating in the product.As of today…

Italy’s d’Amico International Shipping (DIS) said that its Ireland-based subsidiary d’Amico Tankers has signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of  MT High Voyager for a consideration of US$ 25.7 million.MT High Voyager is a 45,999 dwt medium-range product tanker vessel, built in 2014 by Hyundai-Mipo, South Korea.According to a press release from the global operator in bulk carriers and product/chemical tankers markets, this transaction allows d’Amico Tankers to generate at the Vessel’s delivery around US$ 9.6 million in cash, net of commissions and the reimbursement of the Vessel’s existing loan…

The international marine transportation company d’Amico International Shipping (DIS) announced that its joint venture (JV) company DM Shipping (DMS)  signed a memorandum of agreement for the sale of its product tanker vessel MT High Strength  for a consideration of USD 16.4 millionThe 46,800 dwt MR tanker is , built in 2009 by Nakai Zosen Corporation, Japan. DMS is a JV with the Mitsubishi Group, in which d’Amico Tankers (Ireland) holds a 51% participation.MT High Strength will continue its current time-charter out contract with d’Amico Tankers until October 2019, said the product tanker market operator.This transaction allows DM Shipping to generate around US$ 12.3 million in cash…

The marine transportation company operating in the product tanker market d’Amico International Shipping (DIS) has secured a first in the Japanese market, signing an operating lease transaction for one of its LR1 newbuildings.d’Amico Tankers D.A.C. (Ireland), the subsidiary of DIS, has signed a memorandum of agreement and bareboat charter contract for its newbuilding LR1 vessel, said a release.Under the deal, the company agreed a sale and leaseback of the 75,000 dwt MT Cielo di Houston, currently under construction at South Korea’s Hyundai Mipo Dockyard.The vessel, which is expected to join the fleet in January 2019, was sold for a consideration of USD 38.6 million…

International marine transportation company operating in the product tanker market d’Amico International Shipping S.A. (DIS) said that  its operating subsidiary d’Amico Tankers D.A.C. (Ireland) signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Trader.The 49,990 dwt medium-range (MR) product tanker vessel is built in 2015 by Hyundai-Mipo, South Korea was sold for a consideration of US$ 27.0 million.This transaction allows d’Amico Tankers to generate at the Vessel’s delivery around US$ 8.6 million in cash, net of commissions and the reimbursement of the Vessel’s existing loan, contributing to the liquidity required to complete DIS’ fleet renewal program and allowing the Company to benefit from the anticipated market recovery.In addition…

d’Amico International Shipping, an international marine transportation company operating in the product tanker market, announced that its operating subsidiary d’Amico Tankers (Ireland) signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Loyalty, a 49,990 dwt medium-range product tanker vessel, built in 2015 by Hyundai-Mipo, South Korea for a consideration of US$ 28.5 million.Thistransaction allows d’Amico Tankersto generate at the Vessel’s delivery around US$ 13.3 million in cash, net of commissions and the reimbursement of the Vessel’s existing loan, contributing to the liquidity required to complete DIS’ fleet renewal program and allowing the Company to benefit from the anticipated market recovery.In addition…

Luxembourg-based d’Amico International Shipping announced that its operating subsidiary d’Amico Tankers signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of the MT High Trust for a consideration of US$ 29.5 million. The marine transportation company operating in the product tanker market said that High Trust is a 49,990 dwt medium-range product tanker vessel, built in 2016 by Hyundai-Mipo, South Korea. Thistransaction allows d’Amico Tankersto generate at the vessel’s delivery around US$ 11.9 million in cash, net of commissions and the reimbursement of the Vessel’s existing loan, contributing to the liquidity required to complete DIS’ fleet renewal program and allowing the Company to benefit from the anticipated market recovery.

d’Amico International Shipping nnounced that its operating subsidiary d’Amico Tankers (Ireland)  signed a memorandum of agreement for the sale of the MT Cielo di Milano, a 40,081 dwt handy product tanker vessel, built in 2003 by Shina Shipbuilding, South Korea for a consideration of US$ 8.025 million. This transaction allows d’Amico Tankers to generate around US$ 2.4 million in cash, net of commissions and reimbursement of the Vessel’s existing loan, contributing to the liquidity of the international marine transportation company operating in the product tanker market. As of today, DIS’ fleet comprises 57.5 double-hulled product tankers (MR, Handysize and LR1) with an average age of about 7.1 years (of which 26 owned vessels, 27.5 chartered-in vessels and 4 bareboat chartered).

TOP Ships Inc. an international owner and operator of modern, fuel efficient "ECO" tanker vessels currently focusing on the transportation of petroleum products, has announced that it entered into a sale and leaseback agreement and a 5 year time charter with Cargill International SA (“Cargill Ocean Transportation”) on June 29, 2018, a leading vessel operator and freight-trading business in the bulk shipping sector, for its newbuilding vessel Hull No 8242 currently under construction at Hyundai Mipo Dockyard Co., South Korea. Consummation of the deal is expected to take place on the vessel’s delivery date currently planned for January 2019. Following the sale, the company will bareboat charter back the vessel and immediately put it on a 5 year time charter with Cargill Ocean Transportation.

d’Amico International Shipping said that  M/T High Challenge, an ‘Eco’ new-building MR product tanker built by Hyundai Mipo Dockyard – South Korea at their Hyundai Vinashin Shipyard  – Vietnam, was delivered to the Group last year. d’Amico Tankers  also agreed with Hyundai Mipo Dockyard Co. Ltd. – South Korea – to postpone the delivery of its first newbuilding LR1 from April 2017 to October 2017. This agreement follows a specific request of an oil major and a key customer of the Group, which will take the vessel on a 18 month TC contract upon her delivery from Hyundai Vinashin Shipyard Co. Ltd. – Vietnam. At the same time, the estimated delivery dates of the remaining 5 LR1s under construction at Hyundai Vinashin Shipyard Co. Ltd.