Hanjin Heavy Industries Construction Co News

Israeli shipping company ZIM Integrated Shipping Services (NYSE: ZIM) on Wednesday announced a new charter transaction with a group of investors initiated by MPC Capital AG, according to which ZIM will charter a total of up to six 5,500 TEU wide beam newbuild vessels for a period of seven years and total charter hire consideration of approximately up to $600 million.The vessels will be constructed at Korean-based shipyard, HJ Shipbuilding & Construction (formerly known as Hanjin Heavy Industries & Construction Co.) and are scheduled to be delivered between May 2023 and February 2024.

Philippine creditors are close to selling a strategically located but debt-laden shipyard north of the capital Manila, government officials said on Tuesday, with a North American company cited as being an investor in the deal.Hanjin Philippines, a unit of South Korea's Hanjin Heavy Industries & Construction Co Ltd, in 2019 defaulted on $1.3 billion in loans, of which $900 million is owed to South Korean banks and the rest to five Philippine lenders.Talks with investors were almost complete…

South Korean shipbuilder Hanjin Heavy Industries & Construction Co will build a new research vessel for Korea Institute of Geoscience and Mineral Resources (KIGAM).The ULSTEIN SX134 design vessel will be 92 meters long and 21 meters wide and fulfil the general demands of the seismic and oceanographic research industry for operations of seismic streamer cables, seismic bottom nodes, seismic high-resolution seafloor mapping, seafloor survey and sediment sampling.The vessel has been designed to include a variety of installed equipment…

Australian shipbuilder Austal Ltd and U.S. private equity firm are considering a joint bid for a strategically located but debt-laden Philippine shipyard, the facility's trustee said on Wednesday.Hanjin Philippines, a unit of South Korea's Hanjin Heavy Industries & Construction Co Ltd, in January defaulted on $1.3 billion in loans, of which $900 million is owed to South Korean banks and the rest to five Philippine lenders.Austal and Cerberus are interested in the distressed shipyard…

South Korea’s Hanjin Heavy Industries & Construction Co. Ltd. (HHIC) has partnered with Yuchengco group-led construction firm EEI Corp in Philippines.In a stock exchange announcement, EEI said that it formed a partnership with HHIC for upcoming construction projects. No other details were provided by both companies regarding the deal.The two companies have previously teamed up for local projects such as the Berth 6 Manila International Container Project.According to a report in Inquirer, the strategic alliance is seen to make use of HHIC’s special intellectual property in underground infrastructure, railway and airport construction projects.

All offers from potential buyers of a strategically located but debt-laden Philippine shipyard will be welcome, the trade minister said on Thursday, ruling out barring Chinese firms over national security fears.Trade Secretary Ramon Lopez said the government would not, and could not, block interested buyers of distressed shipbuilder Hanjin Philippines, which defaulted on $1.3 billion in loans, of which $900 million is owed to South Korean banks and the rest to five Philippine lenders.Hanjin, a unit of South Korea's Hanjin Heavy Industries & Construction Co Ltd, until recently employed 20,000 workers at its yard in Subic Bay, which until 1992 was home to a U.S.

The troubled South Korean shipbuilder Hanjin Heavy Industries & Construction Co said that it has reached an agreement with Philippine banks on debt-rescheduling for its Philippine affiliate HHIC-Phil, Southeast Asia’s largest shipyard by area size.Philippine creditors agreed to acquire shares of Hanjin Heavy, HHIC-Phil Inc., which operates the yard in Subic Bay, in return for solving surely obligations. This means the scheme includes a debt-for-equity swap with Philippine lenders, it added.Hanjin said the deal would be submitted to a Philippine court by the end of this month. HHIC-Phil, a debt-stricken shipyard in Subic, has applied for a rehabilitation program.Nikkei quoted HHIC saying that Rizal Commercial Banking Corporation…

Maritime Reporter & Engineering News, published since 1939, annually prints details on the world’s “Great Ships of the Year.” Here we rank from those selected in the December 2017 edition the top 10 ships of the year, according to the editors. Builder: Shanghai Zhenhua Heavy Industries Co. Builder: Hanjin Heavy Industries & Construction Co. USS Gerald R. Ford: first-of-class aircraft carrier for the U.S. Owner: U.S. Christoph de Margerie: the world’s first icebreaking LNG carrier. Builder: Daewoo Shipbuilding & Marine Engineering Co.

The bunkering vessel ENGIE Zeebrugge performed in the port of Zeebrugge, Belgium, its first deliveries of liquefied natural gas (LNG) as a marine fuel to M/V Auto Eco and M/V Auto Energy, the two new gas-propelled pure car and truck carriers (PCTCs) of UECC. The LNG bunkering operations were conducted simultaneously while cargo operations for PCTCs were taking place. ENGIE Zeebrugge, which is the world’s first purpose-built LNG bunkering vessel, arrived in Zeebrugge at the beginning of April after delivery from Hanjin Heavy Industries & Construction Co.

ENGIE, Fluxys, Mitsubishi Corporation, and NYK have taken delivery of the world’s first purpose built liquefied natural gas bunkering vessel (LBV) from Hanjin Heavy Industries & Construction Co. Ltd., at the Yeongdo shipyard in Busan, Korea. She will run on LNG for her maiden voyage, after a few days of loading LNG delivered by trucks at the shipyard. Zeebrugge in Belgium will be the home port of the vessel, which has been named ENGIE Zeebrugge accordingly. From there, the 5,000 m3 LNG capacity LBV will supply LNG as a marine fuel to ships operating in Northern Europe. The two LNG-fueled pure car and truck carriers (PCTC) operated by United European Car Carriers will be its first customers.

ENGIE, Fluxys, Mitsubishi Corporation, and NYK have taken delivery of the world’s first purpose built liquefied natural gas bunkering vessel (LBV) from Hanjin Heavy Industries & Construction Co. Ltd., at the Yeongdo shipyard in Busan, Korea. She will run on LNG for her maiden voyage, after a few days of loading LNG delivered by trucks at the shipyard. Zeebrugge in Belgium will be the home port of the vessel, which has been named ENGIE Zeebrugge accordingly. From there, the 5,000 m3 LNG capacity LBV will supply LNG as a marine fuel to ships operating in Northern Europe. The two LNG-fueled pure car and truck carriers (PCTC) operated by United European Car Carriers will be its first customers.

Classification society ClassNK has issued Approval in Principle (AIP) for a 7,500 cbm LNG bunkering vessel designed by Hanjin Heavy Industries & Construction Co., Ltd. This design is the result of joint research carried out by Hanjin Heavy Industries & Construction Co., Ltd. and ClassNK to improve the efficiency of LNG bunkering vessels. The choice of LNG as ship fuel has become increasingly prevalent in the industry, and is expected to become one of a primary source of fuel in the near future.

CMA CGM, the world's third-largest container shipper, announced on Monday plans to order three giant vessels and said higher volumes and profit last year showed its focus on economies of scale was bearing fruit. Like market leader Maersk Line, the family-owned firm has been trying to ride out overcapacity and low freight rates by using larger, more efficient ships coupled with vessel-sharing alliances. CMA CGM was finalising the order of three vessels, each with a capacity for 20,600 20-foot containers, from South Korea's Hanjin Heavy Industries & Construction Co to deploy on its main Asia-North Europe route from the third quarter of 2017, Vice President Rodolphe Saade told reporters.

At the 151st Annual Meeting of the Members of ABS, and the subsequent meeting of the ABS Council, industry leaders were elected to serve on a number of bodies that contribute to the operation of the classification society as it fulfills its mission of promoting the security of life and property and preserving the natural environment. "ABS' strength as a global classification society is drawn from its membership and the many regional, national and technical committees that contribute to the process of developing practical, impartial and authoritative standards," said ABS Chairman Robert D. Somerville. •    Robert G. •    James G. •    Maria F. •    Chow Yew Yuen, Keppel Offshore & Marine USA Inc. •    Dr. Jen-Hwa Chen, Chevron Shipping Co. •    Dr.

Danaos Corporation (NYSE: DAC) announced that on October 11, 2010, it took delivery of one more newly built containership, the Hanjin Versailles, expanding its operational fleet to a total of 50 containerships aggregating 219,929 TEU. The Hanjin Versailles, built at Hanjin Heavy Industries & Construction Co. Ltd. has a carrying capacity of 3,400 TEU, is 730-ft long, 105.6-ft wide and has a speed of 23 knots. The Hanjin Versailles has commenced its 10-year time charter at a fixed charter rate immediately upon delivery. "We enthusiastically welcome our latest delivery," said Dr. Coustas, Chief Executive Officer of Danaos. "The Hanjin Versailles…

Danaos Corporation (NYSE: DAC) announced that on May 27, 2010 it took delivery of one more newly built containership, the Hanjin Buenos Aires, expanding its operational fleet to a total of 45 containerships aggregating 193,629 TEU. The Hanjin Buenos Aires, built at Hanjin Heavy Industries & Construction Co. Ltd. has a carrying capacity of 3,400 TEU, is 222.5 meters long, 32.2 meters wide and has a speed of 23 knots. The Hanjin Buenos Aires has commenced its 10-year time charter at a fixed charter rate immediately upon delivery.

Danaos Corporation (NYSE: DAC) announced that it has entered into an agreement with Hanjin Heavy Industries & Construction Co. Ltd. to cancel three 6,500 TEU newbuilding containerships, initially expected to be delivered in the first half of 2012. The agreement has been reached with the consent of Yang Ming Line who was the charterer of these vessels. Danaos is building another six large containerships with Hanjin Heavy Industries and Construction Co. Ltd. all of which are fully funded by already committed loan facilities from various commercial banks. The cancellation forms part of an overall plan to address the total capex funding needs.

Danaos Corporation (NYSE: DAC), on May 17, 2010 and May 19, 2010, took delivery of two newly built containerships, the CMA CGM Nerval and the YM Mandate, expanding its operational fleet to a total of 44 containerships aggregating 190,229 TEU. The CMA CGM Nerval, built at Sungdong Shipbuilding & Marine Engineering and the YM Mandate, built at Hanjin Heavy Industries & Construction Co. have both a carrying capacity of 6,500 TEU, are 984 ft long, 131 ft wide and have a speed of 25,60 knots. The CMA CGM Nerval has commenced its 12-year time charter at a fixed charter rate immediately upon delivery as has the YM Mandate which commenced its 18-year bareboat charter at a fixed charter rate immediately upon delivery.

The Tognum business unit Engines received two orders for the supply of a total of 28 MTU engines from the Series 2000, Series 4000 and Series 1163 to the Korean Coast Guard in 2009. The orders also include MTU automation systems for six new vessels. The total order value is $55.6m. The engines and automation systems will be installed in new patrol boats with displacements of 300, 500, 1000 and 3000 tons. Contractual partners are the Korean companies STX Engine Co., Ltd, who manufactures the MTU engines under licence, and the MTU distributor, Meksan Engineering Co. Ltd who packages the automation systems with consoles. The new ships will be built by the Korean ship yards Hyundai Heavy Industries Co. Ltd (HHI) and Hanjin Heavy Industries & Construction Co. Ltd.

Twenty-four prominent shipping industry executives have been elected as new Members of ABS bringing the classification society's worldwide membership to 817. The members, each eminent in their maritime field of endeavor, provide broad governance and oversight of ABS. Members are drawn from various sectors of the marine, offshore and related industries worldwide. Timothy J. Lawrence R. James J. John R. RADM. Robert C. Vittorio Portunato, Managing Director, Portunato & C.S.R.L. John F. Reinhart, CEO, Maersk Line. William J. H. W.

Some 20,000 local male residents are being recruited by business titan Hanjin Heavy Industries & Construction Co., Ltd., of South Korea for its shipbuilding and ship repair projects. Former vice Gov. Ramon Lacbain II announced that Gov. Amor Deloso has created Task Force Hanjin (TFH) to fill up the company's labor requirements. Deloso said the task force chaired by Lacbain is assisting the Korean firm in recruiting job applicants from this province and nearby provinces for the multi-billion dollar shipbuilding projects of Hanjin in Zambales and South Korea. Lacban said that his task force is going around the province to recruit applicants to save them from traveling and spending transportation expenses to Subic Bay Freeport.

Konecranes received orders totaling over $28.35m from four South Korean shipyards in September 2007. Hyundai Samho Heavy Industries Co. Ltd, Samsung Heavy Industries Co. Ltd, Hanjin Heavy Industries & Construction Co. Ltd and Daehan Shipbuilding Co. Ltd. ordered the design, project supervision and components for eight Goliath gantry cranes. Deliveries are scheduled for spring 2008. The largest of the cranes ordered has a lifting capacity of 1500 tonnes. The orders include crane design, project supervision and key components such as gears and electrical motors. All four shipyards already use Konecranes' Goliath gantry cranes. The rail span of a Goliath gantry crane can be up to 216 meters and the lifting height up to 98 meters, the crane itself can be over 100 meters high.

Danaos Corporation secured 18 year bareboat charters for each of two 6,500 TEU containerships. These vessels are part of the recently placed order with Hanjin Heavy Industries & Construction Co., Ltd. and are expected to be delivered to Danaos in 2009 and 2010. Danaos Corporation also announced that it delivered the bulk carrier Achilleas to Shanghai Time Shipping Co. Ltd. according to schedule. The delivery of this drybulk vessel to their new owners brought proceeds of $25.5 million to Danaos, while it expects to book a profit for this part of the sale of $15.7 million. "We are increasing our contracted revenues and further strengthening the visibility of our earnings" said Dr. Coustas, Chief Executive Officer of Danaos.