Hyundai News

16 Jan 2020

THE Alliance Welcomes HMM

Image: Hyundai Merchant Marine

The members of THE Alliance, Hapag-Lloyd, Ocean Network Express, and Yang Ming have welcomed Hyundai Merchant Marine (HMM) as a new core member of THE Alliance.With the US Federal Maritime Commission (FMC) acceptance of HMM membership, THE Alliance offers an attractive upgraded product package and it will be launched around April 1st, 2020.Based on the existing comprehensive network of THE Alliance, the newly en-hanced product package will offer increasing frequency particularly from South East Asia…

13 Jan 2020

HMM to Launch Mega-Ships in April

Image: Hyundai Merchant Marine

South Korean logistics major Hyundai Merchant Marine (HMM) will introduce the largest container vessels of the world in April. These mega-ships will be deployed on the company’s Asia-Europe services.According to BusinessKorea HMM will put into operation a total of 12 24,000-TEU super large vessels, one per week, staring this April, the Busan New Port Terminal said on Jan. 12.The boxships are under construction at Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME).HMM will start its services as an official member of “The Alliance…

12 Jan 2020

GTT Wins 8 LNGC Orders from HHI Yard

Image: GTT

French liquefied natural gas (LNG) containment system specialist Gaztransport & Technigaz (GTT) has received several orders from Korean shipyards Hyundai Heavy Industries (HHI) and Hyundai Samho Heavy Industries (HSHI) for the equipment of eight new LNG Carriers (LNGC).According to a press note from the French LNG storage technology firm, the orders were receirved at the end of December 2019.Each vessel will offer a capacity of 174,000 m3 and will be fitted with the Mark III Flex…

09 Jan 2020

Great Ships 2019: T. Elinor

Photo: RMK Marine

Adnan Nefesoğlu, RMK MARINE’s CEO, thought a short moment and  replied by reflecting his self-confidence “Yes, we can do”, when the local client came and asked RMK MARINE in early 2016 that: “We have two main engines, procured eight years ago and standing in a depot since then. They have Tier I feature. Can you convert them first to Tier II compliant engines, to be followed with Tier III compliant features, make them fully operable and then can you build two ships around 15.000-16.000 dwt…

05 Jan 2020

HMD Confirms Evergreen Boxship Order

Image: Hyundai Mipo Dockyard (HMD)

South Korean shipbuilder Hyundai Mipo Dockyard (HMD), a unit of Hyundai Heavy Industries (HHI), has confirmed the KRW 110 billion ($100m) newbuilding order for four units of 1,800 TEU container carriers from Taiwanese shipping line Evergreen Marine Corporation.The world's No. 1 shipbuilder specializing in medium-sized ships such as product/chemical tankers, car carriers, LPG & LNG carriers, and asphalt carriers, said that The vessels, each of which will have a length of 172 meters…

05 Jan 2020

HHI Projects a Revenue of $15.9Bn in 2020

Image: Hyundai Heavy Industries

South Korean shipbuilder Hyundai Heavy Industries (HHI) Group, which includes the world's largest shipyard, aims for a revenue of USD 15.9 billion in 2020.Yonhap News Agency said the combined target of Hyundai Heavy Industries Co., Hyundai Samho Heavy Industries Co. and Hyundai Mipo Dockyard Co. remains unchanged from last year’s goal.HHI said it aims to bag $8 billion worth of deals in 2020, according to the report.Hyundai Mipo Dockyard said in a regulatory filing that it aims to clinch deals worth $3.65 billion this year.In 2019…

05 Jan 2020

TOP Ships Sells 2 MR1 Product Tankers

Image: TOP Ships

TOP Ships, an international owner and operator of modern, fuel efficient ECO tanker vessels, announced that it has sold to unaffiliated third parties its two Medium Range (MR) 1 Product Tankers.According to a press note from the Greek company, the tankers are M/T Eco Fleet and the M/T Eco Revolution (each weighing 39,000 tons).The vessels are expected to be delivered to their new owners during January 2020, it said.Last month, the ship-owning company announced that it had acquired 100% of the issued and outstanding shares of Santa Catalina Inc.

01 Jan 2020

South Korean Yards Close Year with No.1 Spot

Image: Hyundai Heavy Industries (HHI)

South Korean shipbuilders are expected to maintain their status as the world’s top position in new orders this year, although they may fail to meet their annual order targets.South Korean shipbuilders have secured new orders totaling 7.12 million compensated gross tons to build a total of 168 ships through November, accounting for 36 percent of the total deals placed around the globe, said a report in Yonhap.According to the report, the Chinese rivals have bagged 7.08 million CGTs worth of orders for 304 ships in the first 11 months of the year…

31 Dec 2019

IMO2020: 4 Tips to Using Methanol as Fuel

“Our experience to date has led to what I think is best termed ‘simplification’. For example, the piping arrangements. In the first-generation engines, there were a lot more pipes than you see on your standard engine. In the second-generation engines, this was modified to place them inside the cylinder head, making it more maintenance friendly.”
Fredrik Stübner, Director Ship Management, Marinvest

Lessons learned on designing, building & operating with methanol as fuel.Generally averse to technological risk, maritime professionals lean on lessons learned, when available, to make future decisions. According to Fredrik Stübner, Director Ship Management, Marinvest, his organization’s experience running ships on methanol can be instructive for others considering emission reductions technologies, and to this end he suggests:1. VESSEL DESIGN“For other shipowners considering methanol as fuel…

30 Dec 2019

HHI Wins $293M Newbuild Order

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…

25 Dec 2019

Saudi Aramco, Korea Shipbuilding Roll-out New JV

Image: Saudi Aramco

Korea Shipbuilding & Offshore Engineering (KOSE), a manufacturer of oil tankers, cargo and passenger vessels, and warships, and Saudi Arabian Oil Company (Saudi Aramco) plans to set up a joint venture to build engines.According to South Korea’s Yonhap News Agency the JV will break ground for the plant in the King Salman International Complex for Maritime Industries and Services in the kingdom’s eastern coast in September 2020, and the project is set to be completed in May 2022.The Korean company is working to build a shipyard at the complex through a separate JV with Saudi Aramco…

23 Dec 2019

Top Ships Secures Loan for 2 MR Newbuilds

Image: TOP Ships

TOP Ships has entered into an agreement with a major Chinese financier in relation to financing of up to $60.2 million for its recently acquired vessels.The Greece-based shipping company said that the two newbuilding ultra-high specification scrubber-fitted 50,000 dwt Medium Range (MR) product/chemical tankers currently under construction at Hyundai Mipo Co., Ltd. in South Korea.The delivery is due in February 2020, said the international owner and operator of modern, fuel-efficient…

23 Dec 2019

HHI Receives AIP for Bulk Carrier Design

(From left to right) Sung-ho Shin, Head of Pre-Contract Maritime at DNV GL in Korea; Thomas Klenum, Senior Vice President at Liberian Registry; Jae-eul Kim, Senior Vice President at HHI; Seung-ho Jeon, Senior Vice President at HHI; Jong-Kyo Choi, High Manganese Steel Solutions TF Team Leader at POSCO (Photo: HHI)

Hyundai Heavy Industries (HHI) has announced that it recently received the Approval in Principle (AiP) for the design of a capesize bulk carrier with type C LNG fuel tank made of POSCO’s high manganese steel and fuel gas supply system from DNV GL and Liberian International Ship & Corporate Registry (Liberian Registry).The hand-over ceremony was held at HHI’s Seoul office and attended by senior officials from HHI, POSCO, DNV GL and Liberian Registry, including Jae-eul Kim, Chief Technology Officer(CTO) at HHI…

20 Dec 2019

Shipbuilder Wins $1.13B Orders for 6 Ships

Image: Hyundai Heavy Industries

South Korean shipbuilding giant Hyundai Heavy Industries (HHI) has secured orders for a total of six liquefied natural gas (LNG) carriers from European and Asian shipowners, totaling $1.13 billion.The ships - four LNG carriers for a European client and two others for an Asian shipping company - will be installed with a dual-fuel propulsion system to enhance efficiency and reduce toxic gas emissions.Four of the vessels for the European owner will be built by Hyundai Samho Heavy Industries while the remaining two will be built by Hyundai Heavy Industries.According to Yonhap…

19 Dec 2019

TOP Ships Acquires 2 Scrubber Fitted Tankers

Image: TOP Ships

Greece-based international ship-owning company TOP Ships has acquired two ultra-high specification scrubber-fitted 50,000 dwt Medium Range (MR) product/chemical tankers under construction at Hyundai Mipo Dockyard Co., Ltd. in South Korea.The tanker owner stated in a press release that  it has acquired 100% of the issued and outstanding shares of Santa Catalina Inc. and Santa Monica Inc., which are Marshall Islands companies that have originally entered into new building contracts for the two tankers.The MR tankers are scheduled for delivery during February 2020…

19 Dec 2019

Volkswagen Attracts Bids for MAN Energy Solutions Unit

Volkswagen has attracted bids from Europe's Innio, Japan's Mitsubishi Heavy and U.S.-based Cummins for its MAN Energy Solutions, which makes diesel engines for ships and power generators, people close to the matter said.Innio, formerly known as Jenbacher and owned by buyout group Advent, as well as the two other bidders last week made bids for the VW unit, which could have a valuation of 1.5-2 billion euros ($1.7-$2.2 billion) in a potential sale, they said.Other bidders such as Hyundai Heavy are no longer in the running, they added.The divestment is part of Volkswagen's efforts to slim down and simplify the group which has 12 brands…

02 Dec 2019

Japanese Shipbuilding Giants to Merge

Image:  Japan Marine United Corporation

Japan's biggest shipbuilders Imabari Shipbuilding and Japan Marine United (JMU) have formalized their business alliance by agreeing to enter into a capital tie-up amid blockbuster mergers in South Korea and China.According to Jiji Press, with the alliance, the shipbuilders aim to strengthen their international competitiveness at a time when South Korean and Chinese rivals are going through major realignment to grow stronger.Under the basic deal Imabari Shipbuilding plans to buy a nearly 30 pct stake in JMU via a shares purchase.

02 Dec 2019

Singapore Raises Concern over HHI-DSME Deal

Image: CCCS

The Competition and Consumer Commission of Singapore (CCCS) has expressed concern about the agreement of fusion notified from the South Korean shipbuilding groups Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering Co. (DSME).The authority antitrust of Singapore has raised competition concerns with the proposed acquisition by Korea Shipbuilding & Offshore Engineering Co., Ltd. (KSOE) of a majority interest in DSME and the intended integration of the businesses of KSOE and DSME.Earlier…

27 Nov 2019

TEN Orders LNG Carrier at HHI

Pic: TEN

Greece-based crude, product and LNG tanker operator Tsakos Energy Navigation (TEN) ordered has one-option-one 174,000cbm LNG carrier from Hyundai Heavy Industries (HHI) in South Korea with expected delivery, the first, in the second half of 2021 and the second, in the first half of 2022.The provider of international seaborne crude oil and petroleum product transportation services said that with this order, if the option is exercised, its LNG proforma fleet increases to four vessels…

20 Nov 2019

HHI Power System Maximzes Ship Efficiency

Hyundai Heavy Industries (HHI) Group is to maximize the ship efficiency for Very Large Container Ships (VLCSs) with its latest technology to simplify the power system.HHI and Korea Shipbuilding & Offshore Engineering (KSOE) announced that Norwegian-German classification society DNV-GL recently awarded an Approval in Principle (AIP) for the South Korean shipbuilder’s multi-grid design of the power system for 15,000-TEU container ships.The key feature of this latest design is the…

18 Nov 2019

HMM Joins “Getting to Zero Coalition”

Pic: Hyundai Merchant Marine

South Korean shipping giant Hyundai Merchant Marine (HMM) has joined the Getting to Zero Coalition, a new alliance that aims to accelerate international shipping’s decarbonization.Getting to Zero Coalition is a powerful alliance of nearly 100 organizations within various industrial sectors to achieve significant reduction of greenhouse gas (GHG) emission in the maritime industry.“Climate change is a defining issue of our time and the scale of the environmental regulation we are facing is unprecedented.

14 Nov 2019

Hyundai Seeks EU's Ok to Acquire Daewoo

Image: Hyundai Heavy Industries

South Korea’s leading shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group has submitted an application to the European Union for approval for its takeover of the compatriot shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME).According a Yonhap report,  HHI informed that the submission will be reviewed by anti-trust authorities at the European Commission, expecting the results of their call in 2020.Hyundai Heavy has been taking prerequisite steps since April to apply for the EU’s mergers and acquisitions approval.In March…

04 Nov 2019

HHI Adds $1.2Bln to Coffer Selling Stake in Refining Unit

Pic: Hyundai Heavy Industries

South Korea's top shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group said that its holding company HHI Holdings Co will receive 1.4 trillion won ($1.24 billion) in proceeds next month from the sale of a stake in its refining unit, Hyundai Oilbank.In April, state-owned Saudi Aramco had agreed to buy a 17 percent stake in HHIs oil processing operations.Hyundai Heavy Industries Holdings said in a regulatory filing that it had signed a sales agreement with Saudi Aramco…

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