HHI Wins $293M Newbuild Order

Maritime Activity Reports, Inc.

December 30, 2019

Image: Hyundai Heavy Industries

Image: Hyundai Heavy Industries

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, won a 218.8-billion won order to build two very large crude carriers (VLCCs) for an unidentified Asian shipper.

According to a report by Yonhap, so far this year, Hyundai Heavy Industries Group has won orders worth $12 billion to build 135 vessels, achieving 76 percent of its annual target of $15.9 billion.

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