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Hyundai Corporation News

14 Feb 2023

HMM Orders Nine Methanol-fueled Containerships

From left to right: Park, Seung Yong, Senior Executive Vice President, HHI; Ka, Sam Hyun, CEO, KSOE; Cho, Seung Hwan, Minister, MOF; Kim, Kyung Bae, President&CEO, HMM; and Yoo, Sang Cheol, CEO, HJSC. (Photo: HMM)

South Korean shipping company HMM announced it has ordered nine 9,000 TEU containerships capable of running on cleaner burning methanol.The $1.12 billion newbuild contracts were signed with South Korean shipyards Hyundai Samho Heavy Industries (HSHI) and HJ Shipbuilding and Construction (HJSC), HMM said. HSHI and HJSC will build seven and two vessels, respectively, for expected delivery from 2025 to 2026.Upon delivery, the newbuilds are scheduled to be deployed on the Asia-North/Latin America trade lanes and the Asia-India routes.

21 Mar 2019

HMM Intros Scrubber Installation Fund

South Korean shipping company Hyundai Merchant Marine (HMM) announced that it has signed a memorandum of understanding (MOU) to establish a win-win fund for scrubber installation in preparation for IMO 2020 and to seek cooperation in the shipping-related industries.The total investment amount will be KRW 153.3 billion (USD 135.8 million) which consists of HMM’s investment of KRW 46 billion and the rest of the amount of KRW 107.3 billion (including Korea Ocean Business Corporation’s guaranteed loan of KRW 62.3 billion and a win-win fund of KRW 45 billion invested by five companies: Hyundai Corporation, SKTI, Hyundai Global Service, DSEC…

19 Jul 2004

Shipyard Responsible For Poor Construction

The U.S. District Court for the Southern District of New York ruled that a shipyard is responsible under products liability for poor construction. In the instant case, the shipyard - South Korea's Hyundai Corporation - contracted to enlarge a container ship by fabricating and inserting a new mid-body. Thirteen years later, the ship broke in two during a storm at sea. The break occurred at the point where the new mid-body was joined to the original after-body. Evidence indicated that many of the welds connecting the two portions were bad and that the shipyard knew of the bad welds when the ship was redelivered to the owner. The court held that insertion of a new mid-body was a sale, rather than a repair.

26 Jan 2006

Hyundai Wins $300M Contract

Hyundai Corporation won shipbuilding contracts worth $300 million through its joint shipbuilding venture in China. The company announced that an additional deal concerning nine units of 5,500-ton bunkering tankers had been signed in January 13 at the Shangri-La Hotel in Qingdao. The event, which was presided by President Mark Juhn and other related personnel, was also used as the signing ceremony for the new-building contract of 16 units of 5,600-ton chemical tankers with Greek shipping company Evalend. All in all, Hyundai Corporation has won contracts totaling $330 million to build 28 ships through its shipbuilding arm in China. (Source: www.azom.com)

25 Jan 2006

Hyundai Wins $300M Contract

Reports indicate that Hyundai Corporation has won shipbuilding contracts worth $300 million through its joint shipbuilding venture in China. The company announced that an additional deal concerning 9 units of 5,500-ton bunkering tankers had been signed in January 13 at the Shangri-La Hotel in Qingdao. The event, which was presided by President Mark Juhn and other related personnel, was also used as the signing ceremony for the new-building contract of 16 units of 5,600-ton chemical tankers with Greek shipping company Evalend. All in all, Hyundai Corporation has won contracts totaling $330 million to build 28 ships through its shipbuilding arm in China.

16 Jan 2006

Hyundai Corporation Signs Shipbuilding Contract

Hyundai Corporation has risen as a major player in the global small and middle sized vessel market as ‘Qingdao Hyundai Shipbuilding,’ a company it launched last June in Qingdao China, has won shipbuilding contracts worth $300 million within a mere month. Corporation concluded a new shipbuilding contract involving 9 units of 5,500-ton bunkering tankers with Aegean, a Greek shipping company. The contract was signed at the Shangri-La Hotel in Qingdao in the presence of President Mark Juhn, CEO of Qingdao Hyundai Shipbuilding Chung In-Mo and Eleftherious Albertis, CTO of Aegean. With another major contract under its belt, Hyundai Corporation has won a total of 28 construction orders of small and middle sized vessels totaling $330 in value…

31 Aug 2001

Tribon Signs Agreement With Hyundai

The Hyundai Corporation, the largest general trading company in Korea and independent company within the Hyundai group of companies, and Tribon Solutions recently signed a co-operation agreement whereby the Hyundai Corporation will support the marketing activities of tribon.com on the Korean market. The Hyundai Corporation is focusing on business to business trading, making strategic alliances with domestic and overseas companies following its "Hyundai Corporation Internet Business Master Plan" launched in year 2000. Hyundai Corporation intends to fully explore the possibilities of the Internet transforming itself into a "Global Network Digital Enterprise". tribon.com provides a neutral Internet service for the shipbuilding industry that centers around a database.