HHI’s New Weather System Helps Plan Sea Trials
A new system has been developed by South Korean shipbuilder Hyundai Heavy Industries (HHI) to help better manage sea trial schedules for vessels built at its Ulsan yard. The new Sea Weather Forecasting System, developed by HHI in collaboration with Korea Institute of Ocean Science & Technology (KIOST), analyzes sea weather information such as wave height, wind speed and current patterns on an hourly basis in seven offshore areas including Ulsan, Gunsan and Jeju Island to manage the shipbuilder’s sea trials schedules up to 72 hours in advance.
Hyundai Heavy Delivers 2,000th Ship
Hyundai Heavy Industries (HHI) has become the world's first shipbuilder to deliver its 2,000th ship. The world's largest shipbuilding company delivered a drillship, "Ocean BlackLion," to U.S. oil drilling firm Diamond Offshore at the Ulsan shipyard Friday. Ocean BlackLion, a drillship ordered from Diamond Offshore marked the 2,000th ship HHI completed. The gross tonnage of 2,000 ships HHI built amounts to 126 million, twice the gross tonnage of total ships built last year worldwide. The top four most-delivered ships of HHI are containerships (583), bulk carriers (357), tankers (232) and VLCCs (147). Country-wise, Greek ordered the most ships of 254 followed by Germany with 238, Japan with 120 and Denmark with 101.
Korea Shipbuilder's 2013 Profit Falls 86%
According to the Yonhap News Agency Hyundai Heavy Industries Co., the world's largest shipbuilder informed Thursday that its net profit tumbled 86 percent last year from a year ago due to a fall in ship prices. Net income came to 146.3 billion won (US$136 million) last year compared with 1.03 trillion won a year ago, report Yonhap, citing a HHI regulatory filing. Hyundai Shipbuilding Division, claims to be the world's number one shipbuilder, leading the global shipbuilding industry with a 15% share of the market.
HHI: To Infinity & Beyond
Thirty years ago when Greek shipowner George Livanos met with Hyundai Heavy Industries (HHI) founder Chung Ju Yung met on a sandy beach on the tip of the Korean peninsula where the new HHI shipyard would stand, little did they know that 30 years later, HHI would have delivered 1,000 ships of 75 mdwt to 188 shipowners in 42 countries. HHI is celebrating its 30th anniversary in a manner most any other commercial shipbuilder would enjoy, with the delivery of its 1,000th vessel, or the equivalent of 77.5 million dwt. Rival shipyards and political organizations in Europe, the U.S. and Japan often question the manner in which HHI and its shipbuilding colleagues in South Korea garner such large market share, with the dreaded word “subsidies” used with great earnest.
