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Hyundai Mipo

Korean Yard Delivers First of Six New Ships for Bahri

The National Shipping Company of Saudi Arabia (Bahri) receives the 'Bahri Abha' from South Korea's Hyundai Mipo shipyard. The new ship, of 26,000 dwt, was built especially for the general cargo trade and is the first to be delivered of six vessels that were contracted by the Company with Hyundai Mipo shipyard in 2011 for a total value of SAR 1,543 million. The remaining five general cargo vessels ordered by Bahri are under construction at Hyundai Mipo in South Korea with delivery expected during 2013 and the first half of 2014.    


HHI Subsidiary to Shed POSCO Stake

Hyundai Mipo Dockyard Co Ltd said on Tuesday it had decided to sell a stake worth 286 billion Korean won ($260.46 million) in steelmaker POSCO , in a bid to improve its balance sheet. Hyundai Mipo, a shipbuilding affiliate of world's largest shipbuilder, Hyundai Heavy Industries, specializing in smaller vessels, said in a regulatory filing the sale would take place before the market opens on November 19. Reporting by Joyce


HHIG to Post Record Sales

HHIG to Post Record Sales Hyundai Heavy Industries Group (HHIG), which consists of Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries expects to surpass its yearly sales target up 24 percent from a year earlier. As of the end of October, HHIG secured $28.8 billion worth of contracts from shipbuilding to plant businesses _ $16.2 billion by Hyundai Heavy Industries, $5.8 billion by Hyundai Mipo Dockyard and $6.8 billion by Hyundai Samho.


GEM, Hyundai Sign Contract for Five Tankers

Gulf Energy Maritime (GEM) awarded South Korea's Hyundai Mipo Dockyard Co. Ltd. a contract for five high specification double hulled product/chemical tankers for delivery during 2006/2007. The contract, valued at approximately $180m, is for three tankers each with a 37,000 ton capacity and two with a 47,000 ton capacity. They will be fitted with the latest deep well pumps and meet international environmental safety requirements by being completely double-hulled


KMSS To Supply IBS For Hyundai Mipo Dockyard

Kongsberg Maritime Ship Systems (KMSS) has received an order worth $1.2 million from the Hyundai Mipo Dockyard located in Ulsan, South Korea. KMSS will supply its powerful Integrated Bridge System – BridgeLine - for fitting on four 2826 TEU Container Ships owned by Suisse Atlantique and Ahrenkiel. The complete Integrated Bridge System (IBS) installed in KMSS BridgeLine Consoles provides Radar/ARPA with the latest generation antennas and receivers, Steering Control System, Track Pilot


Ardmore Orders Two 37,000 DWT Chemical Tanker Newbuilds

Ardmore Shipping Corporation today announced that it has contracted Hyundai Mipo Dockyard Co. Ltd, South Korea (HMD) for the construction of two 37,000 Dwt IMO 2 eco-design chemical tankers ordered from for approximately $32.7 million each with options for further equipment upgrades. As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Ardmore expects to take delivery of the contracted vessels in fourth quarter 2014 or in first quarter 2015


Many 1Q Orders for South Korean Shipbuilders

South Korean shipbuilders racked up large overseas orders in the first quarter, keeping them on course to far exceed yearly targets, Korea Times reported. Hyundai Heavy Industries, the world's largest shipbuilder, clinched orders worth $2.3 billion in the January-March period, compared with its full-year target of $7.4 billion. Its two affiliates - Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries - won a combined $2.75 billion worth of orders in the first quarter


Scorpio Tankers Update on Finance, Vessel Deliveries

Image courtesy of Scorpio Tankers

Scorpio Tankers Inc. gives details of its agreement to acquire some of its own common shares; to buy back stock; and also sets out a fleet update. Scorpio Tankers Inc. says it has entered into an agreement to purchase from an existing shareholder 7,500,000 common shares of the Company in exchange for the sale to the same shareholder of 3,422,665 common shares it currently owns in Dorian LPG Ltd  in a privately negotiated transaction.


MacGregor to Supply Cargo Access Systems for Mega RoRo Ships

MacGregor, part of Cargotec, has been contracted by South Korean shipbuilder Hyundai Heavy Industries to deliver RoRo access equipment packages for a series of two post-Panamax RoRo carriers. The vessels are under construction at Hyundai Mipo Dockyard (HMD) for the Luxembourg-based operator CLdN (Cobelfret), with options for another three. Ordered as part of CLdN's fleet expansion and modernisation program, the 235-meter-long and 35-meter-wide vessels will reportedly be the world's largest


TEN Announces Delivery and Immediate Charter

Tsakos Energy Navigation Ltd. (TEN) announced the delivery of the 37,340 dwt, 1B ice-class handysize product tanker Byzantion from Hyundai Mipo Dockyard, in South Korea. Concurrent with the delivery, the vessel entered a three-year time charter with a European oil trader for a minimum rate and a 50/50 profit share should rates exceed that minimum. The company expects the vessel to generate a minimum of $21m in gross revenue over the duration of the charter. The delivery of the


TOP Ships Buys Stake in M/T Stenaweco Elegance

Ship owner TOP Ships Inc. said it will purchase for $6.5 million an additional 41 percent interest in Eco Seven Inc., a Marshall Islands company that owns M/T Stenaweco Elegance, a 50,188 dwt medium range (MR) product tanker, which is operating under a three year time charter at a rate of $16


Wärtsilä Scrubbers for Korean Ferry Newbuild

The new Korean ferry being built at the Hyundai Mipo Dockyard will be equipped with a Wärtsilä exhaust gas cleaning system. (Photo: Wärtsilä)

Wärtsilä said it has been contracted to supply its exhaust gas cleaning system for a new Korean ferry being built for Weidong Ferry at the Hyundai Mipo Dockyard. The system will consist of two 13 MW Open Loop V-SOx Scrubbers specifically optimized for the new vessel, a 31


Hyundai Heavy's New Orders Tallied at USD 2.3 bln

Photo: Hyundai Heavy Industries

 Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding group, announced today that it won 39 ships worth $2.3 billion for January – April period, which is the largest ship orders for the comparable period in three years. 


DNV GL Grants AIP for Double Side-hull LPG Carrier

Photo: DNV GL

At the Gastech 2017 conference in Tokyo, DNV GL presented Hyundai Mipo Dockyard (HMD) with an approval in principle (AIP) certificate for a new double side-hull LPG carrier design – LPG SAFE (Structural Advances for the Environment). The result of a development project conducted by HMD


d’Amico Delays Delivery of LR1 Tankers

Photo:  d’Amico ​Società di Navigazione SpA

 Tanker shipping company d’Amico Tankers agreed with Hyundai Mipo Dockyard Co.Ltd. – South Korea to postpone the delivery of its first newbuilding LR1 (Long Range – 75,000 dwt)from April 2017 to October 2017.   This agreement follows a specific request of an oil major


Dry Bulk Back from the Brink

Photo: Dennis Schnell, Bulldog and Partners

While the tanker industry worries about OPEC reducing output and the container industry rushes to consolidate, dry bulk values have been quietly increasing. VesselsValue senior analyst William Bennett digs through the data to uncover the reasons why.  


Bernhard Schulte, Babcock Team-up to develop GSV Vessel

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Bernhard Schulte Shipmanagement (BSM), a leading global maritime services company, and Babcock International Group, the UK’s leading engineering support services company, are collaborating to develop a ground-breaking Gas Supply Vessel (GSV)


D’Amico Sells Two MR Vessels

Photo: d’Amico ​Società di Navigazione SpA

 D’Amico International Shipping (DIS) announced that its operating subsidiary d’Amico Tankers (Ireland) sold MT High Endurance and MT High Endeavour, two vessels in favour of Sea World Tankers a clients of Sea World Management SAM, for a consideration of US$ 13.5 million each.


Scorpio lines up $172m in loans for newbuilds

Photo Scorpio Tankers

Scorpio Tankers Inc. announced today that the Company has received commitments for a loan facility of up to $172 million from a group of financial institutions including Macquarie Bank Limited (London Branch), DekaBank Deutsche Girozentrale ("DekaBank")


Scorpio Tankers Secures $172m for Eight Vessels

Photo: Scorpio Tankers

 Tanker carrier Scorpio Tankers has landed a loan deal for USD 172 million. The money will finance 60 percent of eight new MR product tankers which are currently under construction in South Korea.   The company said in a press release that it has received commitments for a loan


Philly Shipyard Lays Keel for Fourth APT Tanker

Steinar Nerbovik, President and CEO Photo Philly Shipyard

Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA (Oslo: PHLY), held a ceremonial Keel Laying today for the fourth product tanker in a four vessel order for American Petroleum Tankers (APT), a Kinder Morgan, Inc. subsidiary. 


The Top 10 Ships of 2016

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Maritime Reporter & Engineering News (www.marinelink.com), published since 1939, annually publishes details on the world’s “Great Ships of the Year.” Of the 18 selected as “Great Ships of 2016,” here we rank the Top 10 Ships of 2016


Great Ships of 2016: Texas

(Photo: Crowley)

Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. This year 18 ships in total were honored, including many “world firsts.”   Texas - LNG-ready tanker for Crowley  


Debt Looms for South Korean Shipyards

 The top four Korean shipbuilders have 2.3 trillion won ($1.9 billion) in notes maturing next year, the most in Bloomberg-compiled data going back to 1997.    Bloomberg reports that some of them may have trouble paying debts without help from the government or group firms


Great Ships of 2016: Lindanger

(Photo: Hyundai Mipo)

Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. This year 18 ships in total were honored, including many “world firsts.”   Lindanger - World’s First Methanol Fueled Tanker






 
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