Hyundai Heavy Industries Group News

Classification society ABS announced it has awarded approval in principle (AIP) for a next-generation, highly efficient concept of a regasification system (Hi-ReGAS+) for floating storage regasification units (FSRUs) and floating liquefied natural gas (LNG) terminals that uses natural circulation.The technology was developed by Korea Shipbuilding & Offshore Engineering (KSOE), the intermediate holding company of Hyundai Heavy Industries Group, and Hyundai Heavy Industries (HHI) and is a follow-on model to the Hi-ReGAS system from HHI Group.

ABS’ support for the development of autonomous technology at sea took another step forward with the granting of approval in principle (AIP) to Hyundai Heavy Industries Group (HHI Group) for four areas of autonomous functions: navigation, machinery health management, fire fighting management and network infrastructure.“ABS is leading the industry in supporting autonomous projects and assisting pioneers like HHI Group. ABS understands that autonomous technologies are not stand-alone…

Palantir Technologies signed a deal valued at $20 million over five years to expand its partnership with South Korea's Hyundai Heavy Industries Group, one of the world's largest shipbuilding conglomerates. The conglomerate's shipbuilding affiliates including Hyundai Heavy will use Palantir's operating system, known as Foundry, to strengthen data-driven decision making, said Palantir's Chief Operating Officer Shyam Sankar.Companies in the export-driven economy, faced with supply chain snarls and volatility for raw material prices…

The next generation ultra large liquefied carbon dioxide (LCO2) carrier for Hyundai Heavy Industries Group (HHI) and Hyundai Glovis has received an approval in principle (AIP) at Gastech from ABS and the Republic of the Marshall Islands (RMI) Maritime Administrator.The 74,000 m3 design builds on the 40,000 m3 “super gap” technology developed in 2021 by HHI, Hyundai Glovis, G-Marine Service, and Korea Shipbuilding & Offshore Engineering Co., Ltd. (KSOE).A total of nine cylindrical…

A next generation ultra large, liquefied carbon dioxide (LCO2) carrier being developed in a groundbreaking project between ABS, Hyundai Heavy Industries Group (HHI), and the Republic of the Marshall Islands (RMI) Maritime Administrator is said to be the world’s largest in terms of LCO2 capacity.The 74,000cm3 design builds on the 40,000cm3 “super gap” technology developed in 2021 by HHI, which includes Hyundai Glovis, G-Marine service, and Korea Shipbuilding & Offshore Engineering Co.…

A 180,000-square-meter-capacity liquefied natural gas (LNG) carrier is said to be the world's first large cargo ship to cross the Pacific using autonomous navigation.Built by Hyundai Heavy Industries in 2021 and delivered to SK Shipping in South Korea, the vessel Prism Courage is equipped with HiNAS 2.0, Level 2 autonomous navigation solution developed by Avikus, a subsidiary of HD Hyundai (former Hyundai Heavy Industries Group).According to Avikus, HiNAS 2.0 creates optimal routes and speeds based on Hyundai Global Service's Integrated Smartship Solution.

Bureau Veritas (BV) has delivered an approval in principle (AIP) for BV’s ‘Cyber Managed Prepared’ notation to Hyundai Heavy Industries Co., Ltd. (HHI) and Korea Shipbuilding & Offshore Engineering Co., Ltd. (KSOE) for its vessel design.The maritime industry is growing ever more connected, with the majority of newbuild vessels today being built with integrated digital systems on board. While this increased digitalization enables ship owners and managers to collect data and exchange information with their vessels, it also leaves ships vulnerable to cyber risks, BV said.

Korea Shipbuilding & Offshore Engineering (KSOE) expects to have the technology to transport hydrogen by ship by 2025, an executive said, targeting a breakthrough in supplying a fuel touted by supporters as offering a major source of clean energy.The development by KSOE, the shipbuilding arm of Hyundai Heavy Industries Group, one of the world's biggest shipbuilders, comes amid growing global interest in rolling out hydrogen as a cleaner fuel alternative. Vessel makers worldwide are looking at ways to transport the gas…

Hyundai Heavy Industries' shares closed 86% above their initial public offering (IPO) price on their trading debut in South Korea on Friday.The shipbuilder, one of the largest in the world, raised $935 million from its IPO, with much of the proceeds set to fund investments in new technology.A total of 1,633 domestic and foreign institutional investors placed bids to acquire shares earlier this month, valuing total bids at 1,130 trillion won ($962.3 billion), according to Hyundai Heavy.The institutional book for the IPO had been 1,836 times covered - the second-largest for an IPO in South Korea

South Korean shipbuilder Hyundai Heavy Industries has raised $935 million after pricing its IPO at the top of its indicative range, with much of the proceeds set to fund investments in new technology.It offered 18 million new shares or 20% of shares outstanding in a range of 52,000-60,000 won per share.It is expected to list on the KOSPI on Sept. 16.Hyundai Heavy plans to use about 760 billion won ($660 million) of the proceeds to invest in future technologies, including eco-friendly ships and digital ship technology…

South Korean ballast water management systems (BWMS) manufacturer Techcross said orders for its systems are "soaring" in line with the improvements in the global shipbuilding market. The company said it sees business picking up in China, Japan and especially Korea, with good performance in high value-added vessels such as very large cruse carriers (VLCC) and liquefied natural gas (LNG) carriers.Techcross reported orders at all of South Korea's domestic "Big 3" shipyards Korea…

Classification society DNV GL said it has granted Approval in Principle (AIP) to Korea Shipbuilding and Offshore Engineering (KSOE) for a new wing-sail auxiliary propulsion system for ships designed to help reduce shipping emissions and fuel burn.The wind-powered auxiliary propulsion system, designed for installation aboard many vessel types, is the result of a joint research project from KSOE, the shipbuilding holding company of Hyundai Heavy Industries Group, and SK Shipping…

Hyundai Heavy Industries (HHI) has developed a Digital Health Management system (DHM) for safety and operational efficiency of IMO Type-B LNG fuel tanks, and this new industry-first system has achieved Approval in Principal (AIP) of its “Digital Twin READY” Type-B LNG fuel tanks.This AIP was achieved through cooperation with the Liberian Registry (LISCR) as Flag State, and Lloyds Register (LR) as Class Society through JDP. The purpose of this new system is to ensure the structural safety of the Type-B LNG fuel tanks…

A design for the world’s first large liquefied hydrogen carrier has been granted approval in principle (AIP) from the classification society Korean Register and flag state Liberian Registry.The 20,000 cubic meters class vessel was developed by Hyundai Heavy Industries Group and Hyundai Glovis in partnership with the Korean Register and the Liberian Registry, and HHI Group’s Korea Shipbuilding & Offshore Engineering (KSOE) and Hyundai Mipo Dockyard (HMD) announced they have received the AIP on Thursday.Alfonso Castillero…

South Korean manufacturer of oil tankers, cargo and passenger vessels, and warships, Korea Shipbuilding & Offshore Engineering (KSOE) reported its fourth-quarter net loss of 26.2 billion won (US$ 22.2 million), remaining in the red compared with a year ago.The KSOE is an intermediate holding firm controlling Hyundai Heavy Industries and two other Hyundai Heavy Industries Group shipbuilders.According to a regulatory filing, operating profit for the October-December period last year was 169.9 billion, compared with a loss of 246.4 billion won a year ago. Revenue rose 16.8 percent to 4.34 trillion won.Meanwhile, a report in Korea Times…

The global LNG bunkering supplier Probunkers has agreed terms with Hyundai Mipo Dockyard (HMD) for the construction of two firm units of 7,600 m3 LNG Bunker Vessels, signing a Letter of Intent (LOI) with the South Korean leading yard.The signing of this LOI comes as the product of a long optimization process during which probunkers’ technical team reviewed more than thirty (30) ship design proposals to serve the purpose of the project involving prestigious organizations such as the American Bureau of Shipping (ABS), leading design, engineering and manufacturing companies, as well as experienced seafarers who have all followed the developments…

South Korean shipbuilder Hyundai Heavy Industries (HHI) Group said that its two affiliates have clinched two deals worth 340 billion won (US$293 million) in total to build six vessels.Hyundai Mipo Dockyard (HMD), a unit of HHI, has won a KRW 110 billion ($100m) newbuilding order for four units of 1,800 TEU container carriers from Taiwanese shipping line Evergreen Marine Corporation.The boxships will be built to the Con-Green design developed by HMD in conjunction with Man Energy Solutions and DNV GL in HMD’s Ulsan shipyard in phases starting 2021.In a separate deal, another affiliate, Hyundai Samho Heavy Industries Co., an affiliate of HHI…

South Korea’s Hyundai Heavy Industries Group said that its its consolidated operating income shrink 38.3%  to 219.6 billion won ($187.7 million)  in the July-September quarter against a year-ago period.Its net profit plunged 72% on year amid weak demand for ships and oil rigs.The business ranging from shipbuilding to oil refining took a hit from a slowdown in global economy, HHI said.The group, however, managed to show improvement in the bottom-line against the previous quarter. Its operating profit grew 8.8 percent against the second quarter despite a 4.3 percent fall in sales.In June, HHI was split into two entities — KSOE and a reorganized…

South Korea shipbuilding giant Hyundai Heavy Industries (HHI) group said that its unit Hyundai Samho Heavy Industries has won a deal to build two crude carriers.The shipbuilding deal worth KRW 158.7 billion (about USD 132.8 million) was signed with an undisclosed company from Oceania on September 23, 2019, HSHI said in a stock exchange filing.According to Yonhap, Hyundai Samho will build two 158,000-deadweight-ton (DWT) crude carriers by May 2021 for the unidentified Oceanian customer.Hyundai Samho, under Hyundai Heavy Industries Group, posted sales of 1.6 trillion won in the first half of the year, down 35 percent from a year earlier…

Hyundai Samho Heavy Industries (HSHI), a unit of the South Korean shipbuilder Hyundai Heavy Industries (HHI), has won an order for a liquefied natural gas (LNG) carrier.According to a stock exchange announcement by HHI, the deal has a value of $191.2 million.Yonhap reported that, under the deal with H-Line Shipping Co., a midsize South Korean shipper, Hyundai Samho will deliver the vessel with a cargo capacity of 174,000 cubic meters by December 31, 2021.Hyundai Samho, under Hyundai Heavy Industries Group, posted sales of 1.6 trillion won in the first half of the year, down 35 percent from a year earlier, but its operating profit swung to the black over the cited period, the report said.

South Korean shipbuilder Hyundai Samho Heavy Industries, a unit of Hyundai Heavy Industries (HHI), received orders for the construction of five vessels.According to Yonhap, the orders include two liquefied petroleum gas (LPG) carriers and three petrochemical carriers - for some 410 billion won ($337 million) combined.Hyundai Samho will build two LPG carriers with a cargo capacity of 84,000 cubic meters (2.97 million cubic feet) by November 2021 for 197.3 billion won, for  an unidentified Asian customer.The Korean shipyard added it has also secured a 211 billion-won order from an Asian shipper to build three petrochemical carriers by September 2021.Hyundai Samho…

South Korean shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group has officially started the process to earn approval from anti-trust regulators for its proposed takeover of Daewoo Shipbuilding and Marine Engineering Co. (DSME).HHI has submitted a request for the formal approval from the South Korea’s Fair Trade Commission (FTC), as well as from antitrust authorities in Japan, China, Kazakhstan and the European Union.According to Yonhap New Agency the shipbuilding major would submit further requests for approval to other countries.Meanwhile, Hyundai Heavy Industries Group completed the spinoff of Hyundai Heavy Industries Co. into Korea Shipbuilding & Offshore Engineering Co.

South Korea's Hyundai Heavy Industries Group, the world's biggest shipbuilder, is interested in buying a stake in second-ranked rival Daewoo Shipbuilding & Marine Engineering, a Hyundai official told Reuters on Wednesday.The comments follow the group's holding firm saying on Monday it planned to sell part of its stake in refiner Hyundai Oilbank to Saudi Aramco for as much as 1.8 trillion won.State-funded Korea Development Bank (KDB) holds a 55.7 percent stake worth 2.16 trillion won ($1.94 billion) as of Wednesday's closing price in Daewoo."Hyundai Heavy held talks to buy the Daewoo stake," th