Marine Link
Saturday, June 23, 2018

Hyundai Heavy Industries News

GTT Bags Contract for LNG Carrier Tank Design

French engineering from GTT said it has received an order from South Korean shipyard Hyundai Heavy Industries to design the tanks of a new 174,000 cbm liquefied natural gas (LNG) carrier on behalf of Greek shipowner Thenamaris. The vessel's delivery is scheduled in September 2020.These tanks will be equipped with the Mark III Flex membrane containment system.Philippe Berterottière, Chairman and CEO of GTT, said, "This new order reinforces our long-term partnership with Hyundai Heavy Industries, with whom we have managed more than 50 new builds. We are also very pleased to accompany, once more, Thenamaris on its vessels projects."

Bahri Acquires VLCC Amjad

Amjad Photo Bahri

Amjad, a 300,000 DWT Very Large Crude Carrier (VLCC) built by Hyundai Heavy Industries (HHI) in South Korea, has become the latest addition to Bahri's growing fleet of 84 vessels of various types. Bahri took delivery of the VLCC, its 37th, in a ceremony held at HHI’s Mokpo shipyard in South Jeolla Province, South Korea. Bahri CEO, Ibrahim Al-Omar, Hyundai Heavy Industries’ President and CEO, M. K. Yoon and President and COO, Sam H. Ka, Saudi Arabia’s Ambassador to South Korea, H.E.

TMC Compressors for Höegh FSRU

Photo: Höegh LNG

TMC Compressors (TMC) said it has penned a contract with shipbuilder Hyundai Heavy Industries to supply a complete marine compressed air system to a new-build floating storage and regasification unit (FSRU) the South Korean yard is building for Höegh LNG. TMC scope of work includes engineering, manufacturing and supply of a complete compressed air system consisting of 2 x 44 kW service air compressors and 2 x 44 kW control air compressors. The contract value is undisclosed. “This is the 8th or 9th FSRU that Hyundai Heavy Industries is building for Höegh LNG…

Korea’s Big 3 Yards in Path of Recovery

Photo: Samsung Heavy Industries

South Korea’s shipbuilders are expected to recover this year after suffering from a global industrywide slump, reported The Korea Economic Daily. The report said that Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) have already achieved more than a half of their annual targets. SHI clinched deals worth US$4.8 billion coming into this year, which accounts for 74 percent of its annual target of $6.5 billion. It won orders for 13 ships worth US$4.8 billion so far this year, including eight tankers, two LNG carriers, one LNG-FSRU, one FLNG, and one FPU.

AET Tankers Unveils Names of LR2 Duo

Photo: AET Tankers Pte Ltd

AET has unveiled its two new long-range (LR2) petroleum tankers from Hyundai Heavy Industries (HHI) at HHI’s Gunsan Shipyard, Korea, on Thursday, 8 June 2017. The Singapore flagged 114,000dwt Eagle Lyon and French-flagged Eagle Le Havre, are owned by AET, and have been taken on long-term charter by French oil major TOTAL. The sister vessels were ceremonialised at a naming ceremony in Gunsan, which was graced by Yee Yang Chien, AET Chairman and President/Group CEO of MISC Berhad, and Capt.

Hyundai Heavy Industries Debuts ‘Smart Ship’ Solution

Glovis Challenge, 6,500 PCTC with Integrated Smart Ship Solution (ISSS). (Photo: HHI)

South Korean shipbuilder Hyundai Heavy Industries (HHI) said it has developed proprietary ICT technology capable of realizing economical and reliable navigation and management of ships: Integrated Smart Ship Solution (ISSS). HHI said the solution provides a wide range of ship information to operators, including optimal navigation routes and navigation speed along with a slope status of the front and back hull of a ship that minimize resistances a ship takes on voyage. ISSS is…

Moss-Type LNG Carrier Joins MISC Berhad's Fleet

(L)The Naming and Delivery Ceremony of Seri Cempaka at the HHI Shipyard in Ulsan, South Korea. (R) The Lady Sponsor, Y. Bhg. Datin Teo Yin Hui Officiating the Naming Ceremony of Seri Cempaka. Photos: MISC Berhad

Malaysia’s MISC Berhad (MISC), a world leading energy related maritime solutions and services provider has taken delivery of Seri Cempaka, the third in a series of five Moss-Type Seri-C Class Liquefied Natural Gas (LNG) carriers. The 150,200 CBM LNG carrier has been built for MISC by Hyundai Heavy Industries (HHI), and benefits from an Integrated Hull Structure (IHS) with four spherical tanks shielded by a continuous cover, fortifying the vessel to allow for operation in even the harshest marine environments.

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. Hyundai Heavy Industries’ net profit in the third quarter rose 106 percent from a year ago to 434.7 billion won. Industry analysts say worries over excessive supply, the rapid growth of Chinese shipbuilders and soaring oil prices still remain as risk factors impeding the expansionary plans of South Korean shipbuilders…

Bahri to Build 4 Bulk Carriers for USD 120mln at Hyundai Heavy

Photo: National Shipping Company of Saudi Arabia (Bahri)

The National Shipping Company of Saudi Arabia (Bahri) announces that its subsidiary Bahri Dry Bulk Company (owned 60% by Bahri) (BDB) has signed contracts with Hyundai Heavy Industries (HHI) to build 4 bulk carriers. These carriers will be delivered during the first half of 2020. The financial impact of these contracts will appear after the delivery of the vessels. These vessels are designed to the latest international technical specifications and are fitted with environmentally-friendly specifications and high efficiency in fuel consumption…

Hyundai Heavy Industries to Build 'Connected Smart Ships'

Shipbuilder Hyundai Heavy Industries is collaborating with technology service provider Accenture to design a ‘connected smart ship’ that aims to enable ship owners to better manage their fleets and achieve potential operational savings through the application of digital technologies. Using a network of sensors that will be built into new vessels, ship owners will be able to capture a range of ship voyage information including location, weather and ocean current data, as well as on-board equipment and cargo status data. By applying real-time analytics to new and historical fleet data and using data visualization technology to present the insights…

GTT to Design LNG Tanks for FSRU Newbuild

GTT said it has received an order from the South Korean Shipyard Hyundai Heavy Industries concerning a new Floating Storage and Regasification Unit (FSRU) which has been contracted by Triumph Offshore, a subsidiary of the Indian ship-owner Swan Energy. GTT will design the LNG integrated tanks which represent a total capacity of 180,000 m3. These tanks will be equipped with the membrane containment system Mark III, a sea-proven technology developed by GTT. This insulation system benefits from an unparalleled track record: it has been already used to equip more than 140 vessels which are still in service today. The new FSRU is scheduled to be delivered in late 2019.

Hyundai Heavy Signed $400 Million Order to Build 5 VLOCs

Photo: Hyundai Heavy Industries

South Korea’s Hyundai Heavy Industries (HHI) has clinched a deal worth approximately US$400 million to build five very large ore carriers(VLOCs) from Seoul-based shipper Polaris Shipping. "HHI has signed a $400 Million worth contract to build five 325,000 dwt VLOCs (Very Large Ore Carrier) with Polaris Shipping. It is the option exercised following the contract of ten same class VLOCs with Polaris Shipping on September 25," said a company statement. HHI Group’s shipbuilding affiliates have so far this year won new orders of 110 ships worth $ 6.7 billion, 90% of the $ 7.5 billion annual target.

Iran to Enhance Fleet Strength

Photo: IRISL Group

Four giant new container vessels will join Iran's shipping fleet next year. With the arrival of these vessels, the rank of the national shipping fleet in the work will rise to 16 from 20 at present, chairman of the Islamic Republic of Iran Shipping (IRISL) Mohammad Saeedi was quoted as saying. The report by the Fars news agency did not specify the type of the vessels but they are most likely Triple E ships which Iran has already ordered as part of a plan to expand its shipping fleet.

HHI Group to List Oilbank

File Image (CREDIT: AdobeStock / (c) Burnel11)

IPO seen improving group's financial soundness, transparency; Group sees shipbuilding recovery starting 2019. South Korea's Hyundai Heavy Industries Group plans to list its refining arm Hyundai Oilbank in an IPO in 2018 and raise about $1.2 billion via a share issue by shipbuilder Hyundai Heavy Industries, in a move to bolster its finances. Hyundai Heavy Industries, the flagship company of South Korea's ninth-largest conglomerate, said on Tuesday that Hyundai Robotics, the group's holding company…

Hyundai Heavy to Raise $1.2B Via Rights Offering

Photo: Hyundai Heavy Industries

South Korea's Hyundai Heavy Industries (HHI)  plans to raise about 1.29 trillion won ($1.2 billion) in an initial public offering (IPO)  and list its refining subsidiary Hyundai Oilbank. The report quoted the world’s second-biggest shipbuilder stating that Hyundai Robotics, the group’s holding company, has decided to list refining subsidiary Hyundai Oilbank in an IPO in the second half of 2018. The group also plans to issue 12.5 million rights shares, worth about 1.3 trillion won ($1.21 billion), by March.

Bahri Dry Bulk Secures Newbuild Finance

New vessels being built by Hyundai Mipo Dockyard will be used to cater to the growing demand for the import of essential grains into Saudi Arabia. Photo: Bahri Dry Bulk

Bahri Dry Bulk, a business unit of global transportation and logistics leader Bahri, has announced that it has secured a Sharia-compliant funding of SAR 360 million (USD 96mln) from Bank Albilad, one of the fast-growing banks in Saudi Arabia. The fund is to finance the purchase of four new bulk carriers as part of an agreement signed by the company‎ in 2017 with Hyundai Mipo Dockyard (HMD), a member of Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding company based in South Korea.

Hyundai Heavy Bags Canadian Facility Order

Photo: Hyundai Heavy Industries

South Korean shipbuilding giant Hyundai Heavy Industries (HHI) has won a design contract worth about $500 million for a liquefaction unit to be used for Steelhead LNG’s Kwispaa LNG export project in Canada’s British Columbia, reported Yonhap. Hyundai Heavy will conduct a front-end engineering design (FEED) for the hull of the At-Shore LNG (ASLNG) and build the LNG liquefaction facility for Steelhead LNG Corp., the company said in a statement. The ASLNG facility, scheduled to begin operations in 2024 on the coast of Vancouver…

Hyundai Heavy Industries, KOTC Ink Gas Carriers Deal

Photo: Kuwait Oil Tanker Company S.A.K

Kuwait Oil Tanker Company (KOTC) has signed a contract with South Korean shipbuilder Hyundai Heavy Industries (HHI) for three very large gas carries (VLGC). The three 84,000 cbm LPG carriers are expected to start delivery in 2019. The contract worth USD 213.36 million to build three immense gas tankers is part of a major KOTC fleet overhaul. The deal entails the construction of three liquefied gas tankers at a cost of USD 71.12 million per tanker, the marine transport company said in a statement to KUNA.

LNG Carrier Seri Camar Delivered to MISC

MISC’s fourth MOSS-Type LNG carrier, the Seri Camar (Photo: MISC)

MISC Group has taken delivery of the 150,200 CBM liquefied natural gas (LNG) carrier Seri Camar, the fourth in a series of five newbuild MOSS-Type Seri C Class vessels built by Hyundai Heavy Industries (HHI). Owned by MISC, the Malaysian-flagged Seri Camar joins sister vessels Seri Cenderawasih, Seri Camellia and Seri Cempaka on long-term charter to PETRONAS. The delivery brings the current number of MISC’s LNG fleet to 28 vessels. The vessel was delivered at a naming ceremony held at the HHI yard in Ulsan, South Korea, attended by PETRONAS Executive Vice President & CEO Upstream, Y. Bhg.

Korea's Top 3 Shipbuilders' Shaky Performance

File Photo: Samsung Heavy Industries

The value of contracts signed by Korea's big-three shipbuilders— Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering, and Samsung Heavy Industries — fell far behind the amount they projected for this year, reports The Korea Herald. Meanwhile, Arirang reported that the third quarter earnings of Korea's top 3 are likely to be in the black. Samsung Heavy Industries did not sell a single vessel during the first eight months of this year. Its yearly outcome, however, may differ as the company is currently negotiating a deal worth as much as $2.7 billion.

Kuwait Oil Tanker Signs Financing Deal for 8 Tankers

Photo: Kuwait Oil Tanker Company S.A.K

Kuwait Oil Tanker Company (KOTC) said on Thursday it had signed a 140 million dinar ($467 million) financing deal with three local banks for eight oil tankers, state news agency KUNA reported. The 10-year financing was obtained from Warba, Ahli United and Kuwait International banks, KUNA said. Earlier, KOTC and South Korean construction firm Hyundai Heavy Industries have co-signed a contract worth USD 213.36 million to build three immense gas tankers, as part of a major KOTC fleet overhaul.

Seanergy Maritime Adds a Bulker

Courtesy Seanergy Maritime Holdings Corp.

Athens, Greece - Seanergy Maritime Holdings Corp. announced today that it has taken delivery of a 178,838 dwt Capesize dry bulk vessel, renamed to M/V Lordship and built in 2010 by Hyundai Heavy Industries in South Korea. The M/V Lordship is the first of two Capesize vessels that the Company has agreed to acquire for a gross purchase price of $20.75 million per vessel. The second Capesize vessel, of 178,978 dwt and to be renamed M/V Knightship, also built in 2010 by Hyundai Heavy Industries, is expected to be delivered to the Company during December 2016.

Great Ships of 2016: Seri Camellia

(Photo: MISC Berhad)

Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. Seri Camellia is the first in a series of five 150,200 cu. m. Liquefied Natural Gas (LNG) MOSS-Type LNG carriesr built for MISC Berhad (MISC), ordered from Hyundai Heavy Industries Co., Ltd. (HHI). Upon delivery, these new LNG Carriers will be chartered to PETRONAS for the next 15 years. It is a historic occasion for MISC as Seri Camellia will be part of the new generation of the Seri C Class LNG fleet…

Maritime Reporter Magazine Cover Jun 2018 - Green Marine Technology

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