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Sunday, October 22, 2017

Hanjin Heavy

Hanjin Heavy Wins $160M In Orders

Hanjin Heavy Industries Co. reportedly won $160 million in contracts from Germany to build four container vessels.

Danaos Corp. Cancels Three Newbuildings

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

STX Pan Ocean Orders $215M LNG Carrier

STX Pan Ocean has ordered an LNG carrier from Korean shipbuilder Hanjin Heavy Industries and Construction. The vessel will be built at a cost of $215 million. Delivery is expected before 2010. STX Pan Ocean recently reported a 71 percent jump in full-year earnings to $279.8 million on a 20 percent increase in sales to $2.7 billion. Source: ChannelNewAsia

Hanjin Heavy Locks Factories

According to a report from the Korea Times, Hanjin Heavy Industries and Construction (HHIC) imposed a lockout at its main shipbuilding yard and factories Feb. 14, in reaction to a strike against a layoff plan by its union that started on Dec. 20. The company plans to make 190 employees redundant today as it previously announced.    (Source: Korea Times)

Hanjin Union Ends 190-Day Strike

According to a report from The Chosun Ilbo, the labor union of Hanjin Heavy Industries and Construction's shipbuilding unit agreed on June 27 to end a strike that has lasted for over six months. The company will not rehire laid-off workers, but will compensate them if they voluntarily retire. Both sides also agreed to drop the legal cases against each other.    Source: The Chosun Ilbo

Philippines' Subic Shipyard books $5B in Sales

HHIC-Phil’s Subic Shipyard

Hanjin Heavy Industries is trying hard to retain its leadership by reviving the shipyard in Subic Bay, the Philippines. Since running at full capacity in 2009, the Subic Shipyard has won orders continuously, surpassing $5 billion dollars in sales in 5 years   HHIC-Phil’s Subic Shipyard is the largest shipyard in the Philippines with 300 ha in total area, which opened in Subic Bay in 2009. In just five years

Korean Shipbuilders Place in Top 10 for June Orders

Korean shipbuilders occupied seven out of the top 10 positions in the world last month in terms of orders. Hyundai Heavy Industries was the world’s largest shipyard in terms of order backlog as of late June with 11.74 million compensated gross tons (CGT), British shipbuilding market researcher Clarkson reported. Samsung Heavy Industries came second with an order backlog of 8.27 million CGTs, followed by Daewoo Shipbuilding & Marine Engineering (DSME) with 7

Danaos Secures Bareboat Charters for Containerships

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

Huntington Ingalls Subsidiary Partners With HHIC Holdings

Virginia Beach, Va. - Huntington Ingalls Industries announced that its subsidiary, AMSEC, has signed an agreement with Hanjin Heavy Industries and Construction Philippines Inc., a subsidiary of HHIC Holdings Co. Ltd., to work together in providing maintenance, repair and logistics services to the U.S. Navy and other customers in the western Pacific region. The agreement with HHIC-PHIL allows AMSEC to benefit from Hanjin's state-of-the art shipyard at Subic Bay, Philippines

Philippine Shipyard to Build 10 Container Ships

Photo credit HHIC

Hanjin Heavy Industries & Construction's Philippine Shipyard wins contract to build mid-size container ships for European owners Despite the current global economic slowdown, Hanjin Heavy Industries & Construction (HHIC)-Phil's Subic Shipyard has won a bid to build mid-size container ships for the first time this year. The shipbuilder recently announced that it has signed a USD 450 million contract to build ten 5

Ship-to-ship LNG Bunkering Starts in Port of Zeebrugge

First LNG ship-to-ship operation in the port of Zeebrugge (Photo: Port of Zeebrugge)

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

New 11,000 TEU Ship Enters Service for Zim

Cape Sounio (Photo: Zim)

The newly built 11,000 TEU vessel Cape Sounio owned by Costamare has been deployed on Zim’s Asia South America East Coast (ASE), the Israeli container shipping company said.   The vessel embarked on its maiden voyage on from Pusan, South Korea, on May 4, on its regular route calling ports in Brazil, Uruguay and Argentina, connecting to major Asian ports.    Built at Hanjin Heavy Industries and Construction Philippines (HHIC Phil) and delivered in April, 2017

Hanjin Shipping: No Cash to Pay Creditors

File Image: a Hanjin Boxship underway (CREDIT: Hanjin)

 Hanjin Shipping Co., the South Korean shipping company that caused havoc when it filed for bankruptcy, is struggling to raise enough money to repay $10.5 billion in creditor claims, WSJ reported.  Hanjin has raised only $220 million by selling ships, stakes in seaport terminals and other assets to repay its more than 180 creditors.   A trustee charged with Hanjin Shipping’s Korean bankruptcy case in in Seoul said Hanjin has raised about $220 million since filing for

HMM Orders New Carriers

File Photo: Hyundai Merchant Marine

 South Korea’s largest ocean carrier Hyundai Merchant Marine (HMM) will invest USD 417.61 million in five new very large crude oil carriers (VLCCs), Reuters reported quoting company sources.   "HMM will invest 470 billion South Korean won (U.S. $418 million) in new facilities for the construction of five, 300,000 deadweight ton (DWT) VLCCs with Daewoo Shipbuilding & Marine Engineering (DSME), with an option for five more," said company sources.  

S.Korea Court to Declare Hanjin Bankrupt on Feb. 17

A South Korean court said on Thursday it decided to end Hanjin Shipping Co Ltd's court receivership process and expects to declare bankruptcy on February 17 after a two-week period for appeals.   The Seoul Central District Court said in a statement that it made the decision as the firm's liquidation value would be worth more than its value as a going concern.   Hanjin Shipping, which had been the world's seventh-largest container shipper

South Korean Court to Liquidate Hanjin Shipping

Hanjin Shipping (File Photo)

 The Seoul Central District Court Thursday decided to end the bankruptcy protection of Hanjin Shipping Co. Ltd (Hanjin Shipping), leaving the company to succumb to a declaration of bankruptcy later this month, Yonhap reported.   Hanjin, once the world's seventh- or eighth-largest container shipper, filed for court receivership in late August 2016 as its creditors, led by the state-run Korea Development Bank (KDB)

Korea Bank Puts 10 Hanjin Vessels Up for Sale

File Image: a Hanjin Boxship underway (CREDIT: Hanjin)

 Korea Development Bank, the main creditor of the dissolved Hanjin Shipping Co. and state-owned entity, has put 10 Hanjin vessels up for sale in order to source back elements of its extended loans, reports Yonhap.   According to the sources, potential buyers are required to submit their bids for the ships — two container ships and eight bulk carriers — by Feb. 21.   Previously a South Korean court agreed to formally end Hanjin Shipping Co Ltd’s court

First Purpose-built LNG Bunkering Vessel Delivered

Photo NYK Line

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.   Home port Zeebrugge, Belgium Zeebrugge in Belgium will be the home port of the vessel

Hanjin Heavy Delivers Purpose-Built LNG Bunkering Vessel

Photo: ENGIE

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

HMM Acquires Four Terminals From Bankrupted Hanjin

Phto: Hyundai Merchant Marine

 Hyundai Merchant Marine (HMM) announced that it has entered into a contract with Hanjin Shipping and Marine Terminals Investment Limited (MTIL) to acquire Hanjin Pacific Corporation’s 100% stake in terminals in Tokyo and Kaohsiung.                                                      

SM Line's Maiden Voyage Next Month

Photo: S M Ship Management

 The new container carrier SM Line, owned by South Korean Samra Midas (SM) Group, will launch its first service in the second week of March.    The shipper which took over Hanjin's service network between Asia and the US, will also take over several of Hanjin's terminals in South Korea.   According to a report in Pulse, it will set sail on its maiden voyage on March 8 along the East and South China Sea with 1,000 twenty-foot equivalent (TEU) container onboard. 

Marine Jet Power Wins Korean Coast Guard Contracts

Photo: Maritne Jet Power

Marine Jet Power has been awarded two new contracts to supply waterjets for another eight units 500T Patrol Vessels for the Korean Coast Guard: five vessels to be built by Hanjin Heavy Industries & Construction and three vessels to be built by Kangnam Corporation. The propulsion system comprises a MJP 950 double drive and MJP 750 double booster waterjets. Powered by four diesel engines at a total of 14 MW the top speed is over 35 knots.

Marine Jet Power Awarded Repeat Order for Korean Navy

Photo: MJP

Marine Jet Power has been awarded a repeat order to supply waterjets to another 3 units Patrol Killer Experimental (PKX-B) fast attack craft for the Korean Navy. Last year, South Korean shipbuilder Hanjin Heavy Industries and Construction (HHIC) launched the first unit which is currently undergoing sea trials. The propulsion system comprises a MJP 950 single drive and MJP 650 double drive waterjet installation. Powered by General Electric's 12 000 hp LM 500 gas-turbine engines and

New FSRU Concept Stems from ABS, HHIC Project

Image: ABS

ABS partners with HHIC to advance safety and set standards in new FSRU design concept.    Working with Hanjin Heavy Industries and Construction Co., Ltd. (HHIC) as it completed a new Floating Storage and Regasification Unit (FSRU) design concept, ABS provided safety guidance and advice on regulatory compliance throughout concept development.    “Industry is exploring options for getting gas to new and expanding markets

Cyber SAFE Ship Delivered

Trammo Dietlin. Photo by Lloyds Register

 The first ships to be classed with Lloyd’s Register’s cyber notations have been delivered to Global United in Korea.    Built by Hanjin Heavy Industries, in collaboration with Alpha Ori Technology, the ships have been awarded the notation Cyber (AL-SAFE) certifying the autonomous systems onboard as safe.   This is the first real example of the digital transformation in shipping – the ships will operate in an autonomous mode for selected functions

Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

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