Hyundai Heavy News

26 Feb 2020

GTT Bags Tank Design Order from China Yard

Image: GTT

French LNG containment specialist Gaztransport & Technigaz (GTT) announced that it has received an order from the Chinese shipyard Hudong-Zhonghua Shipbuilding (Group) Co. Ltd for the tank design of two new LNG carriers (LNGC) on behalf of the Japanese ship-owner “K” LINE.Each vessel will offer a capacity of 79,960 m3. GTT will design the tanks of the vessels, which will be fitted with the NO96 L03+ membrane containment system, a technology developed by GTT. The delivery of the vessels is planned during the second quarter of 2022.Philippe Berterottière…

25 Feb 2020

KSS Line Orders 5th VLGC at HHI

Image: KSS Line

South Korean shipping company KSS Line placed an order for the construction of a new class 84,000 cbm Very Large Gas Carrier (VLGC) at compatriot Hyundai Heavy Industries (HHI).According to a statement from the marine transportation business company, this is the fifth VLGC order at the yard. All five VLGCs are scheduled for delivery in 2021."In 2021, when five new VLGCs, including the new vessels, are delivered, sales are expected to exceed KRW 300 billion and continue to grow…

18 Feb 2020

GTT Wins 2 LNG Tank Design Orders from Hyundai

Image: GTT

French multinational naval engineering company Gaztransport & Technigaz (GTT) has received two orders from the Korean shipyards, one from Hyundai Samho Heavy Industries (HSHI) and the other one from Hyundai Heavy Industries (HHI) for the tank design of two Liquefied Natural Gas Carrier (LNGC).Each vessel will offer a capacity of 174,000 m3. GTT will design the tanks of the vessels, which will be fitted with the Mark III Flex membrane containment system, a technology developed…

11 Feb 2020

LR Awards HHI AiP for Frigate Design

Young-Doo Kim (left), LR's North Asia Technical Support Office Manager presents the AiP to Sang-Hoon Nam, COO of Naval and Special Ship Business Unit at HHI.(Photo: LR)

Lloyd's Register (LR) has awarded approval in principle (AiP) to South Korean shipbuilder Hyundai Heavy Industries (HHI) for the design of its HDF-3800 frigate.The design allows for the frigate to be equipped with modern weapons and sensors, and it will be able to undertake Anti-Air Warfare (AAW), Anti-Surface Warfare (ASuW), and Anti-Submarine Warfare (ASW) missions. Additional combat capabilities include Electronic Warfare (EW), Land Attack Warfare (LAW) and the capability of anti-drone systems and to launch and recover unmanned aerial vehicles (UAVs).Furthermore…

10 Feb 2020

Sovcomflot Names LNGC SCF La Perouse

Pictured, right to left: Arnaud le Foll, Total’s Country Chair Russia and Director General of Total Exploration and Production Russia; Fleur-Eve Durin le Foll, his spouse and the vessel’s sponsor; Alexander Matanov, the vessel’s master; Sergey Frank, Chairman of the Board of Directors of PAO Sovcomflot; Nikolay Kolesnikov, Executive Vice President and Chief Financial Officer of PAO Sovcomflot; Peter Justesen, Vice President for LNG Shipping at Total, and Grigory Aleksandrov, Director of Projects

Russian state-controlled shipowner Sovcomflot (SCF) has named the 174,000m³ SCF La Perouse - the first of three LNG tankers on order with South Korean shipbuilder Hyundai Heavy Industries (HHI).The LNG carrier named after Jean-François de la Pérouse, a French explorer of the Pacific.The vessel will operate under a long-term time charter agreement with Total. The event was held at Hyundai Samho Heavy Industries’ shipyard, Republic of Korea. Fleur-Eve Durin le Foll, the spouse of Total’s Country Chair Russia…

09 Feb 2020

Hyundai to Build 2 LNG carriers for Knutsen

Image:  Knutsen OAS Shipping

Norwegian shipping company Knutsen said that  Shell signed separate agreements for four LNG carriers with affiliates of Knutsen liquefied natural gas (LNG), two LNG carriers with Korea Line Corporation and two LNG Carriers with Global Meridian Holdings Limited.The LNG carrier owner and ship management  company informed that the 174,000 cbm LNG carriers will be built by Hyundai Heavy Industries and Hyundai Samho Heavy Industries.The new vessels will all be equipped with efficient dual-fuel X-DF engines…

09 Feb 2020

KSOE Wades into the Red

Image: Korea Shipbuilding & Offshore Engineering

South Korean manufacturer of oil tankers, cargo and passenger vessels, and warships, Korea Shipbuilding & Offshore Engineering (KSOE) reported its fourth-quarter net loss of 26.2 billion won (US$ 22.2 million), remaining in the red compared with a year ago.The KSOE is an intermediate holding firm controlling Hyundai Heavy Industries and two other Hyundai Heavy Industries Group shipbuilders.According to a regulatory filing, operating profit for the October-December period last year was 169.9 billion, compared with a loss of 246.4 billion won a year ago.

05 Feb 2020

Japan Takes Shipbuilding Dispute to WTO

Image: Hyundai Merchant Marine

The Japanese government has filed a new petition with the World Trade Organization (WTO) against South Korea concerning alleged aid provided by the Korean government to the country’s shipbuilding industry.According to Yonhap, Japan has asked South Korea to discuss the issue which it says is affecting international competition, and if the talks fail, Japan will seek to establish a dispute settlement panel.In November 2018, Japan filed a complaint with the WTO, claiming that South Korea violated existing regulations by providing subsidies to its shipbuilders…

21 Jan 2020

Probunkers Orders for LNG Bunkers at HMD

Image: probunkers

The global LNG bunkering supplier Probunkers has agreed terms with Hyundai Mipo Dockyard (HMD) for the construction of two firm units of 7,600 m3 LNG Bunker Vessels, signing a Letter of Intent (LOI) with the South Korean leading yard.The signing of this LOI comes as the product of a long optimization process during which probunkers’ technical team reviewed more than thirty (30) ship design proposals to serve the purpose of the project involving prestigious organizations such as the American Bureau of Shipping (ABS)…

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…

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…

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…

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

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

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…

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…

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…

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…

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