Hyundai Heavy Industries News

17 Nov 2020

World's Largest Ethane Carrier Delivered

(Photo: MISC Berhad)

MISC Berhad (MISC) has taken delivery of the world's largest very large ethane carrier (VLEC) at the Samsung Heavy Industries (SHI) shipyard in Geoje, South Korea.The newbuild 98,000 cubic meter capacity Seri Everest, MISC's first VLEC, is the lead vessel in a series of six that the shipowner purchased from Zhejiang Satellite Petrochemical (STL) in July 2020. Concurrently, MISC had also entered into time charter parties (TCPs) with STL, for the six VLECs to operate in international waters.

02 Nov 2020

HHI Awarded Digital Twin Certification for Fuel Tank Safety

(Photo: Liberian Registry)

Hyundai Heavy Industries (HHI) has developed a Digital Health Management system (DHM) for safety and operational efficiency of IMO Type-B LNG fuel tanks, and this new industry-first system has achieved Approval in Principal (AIP) of its “Digital Twin READY” Type-B LNG fuel tanks.This AIP was achieved through cooperation with the Liberian Registry (LISCR) as Flag State, and Lloyds Register (LR) as Class Society through JDP. The purpose of this new system is to ensure the structural safety of the Type-B LNG fuel tanks…

22 Oct 2020

First Large Commercial Hydrogen Carrier Developed

(Photo: LISCR)

A design for the world’s first large liquefied hydrogen carrier has been granted approval in principle (AIP) from the classification society Korean Register and flag state Liberian Registry.The 20,000 cubic meters class vessel was developed by Hyundai Heavy Industries Group and Hyundai Glovis in partnership with the Korean Register and the Liberian Registry, and HHI Group’s Korea Shipbuilding & Offshore Engineering (KSOE) and Hyundai Mipo Dockyard (HMD) announced they have received the AIP on Thursday.Alfonso Castillero…

20 Oct 2020

WE Tech to Equip Six Shell LNG Carriers

(Photo: Shell)

WE Tech Solutions said Tuesday it has been awarded a contract to equip six additional newbuild liquefied natural gas (LNG) carriers that will be chartered to Shell.The Finnish firm said it will deliver six shipsets of its Solution One for the 174,000m³ capacity LNG carriers, which are chartered to energy major Shell LNG via the owners Knutsen OAS Shipping, J.P.Morgan Asset Management and Korea Line Corporation. The order is an option to the earlier eight contracted in March, now also added with a second option for another six more.The vessels are being built by Hyundai Heavy Industries Co.…

08 Oct 2020

HMM's New Mega Ships Each Sailed Fully Loaded on Maiden Voyages

The 11th of HMM's 12 Megamax-24 containerships, HMM Le Havre, transits north through the Suez Canal on September 30, steering a course toward Rotterdam, ETA October 8. (Photo: HMM)

South Korean shipping company HMM said all 12 of its new 24,000 TEU containerships—the world's largest—have each made their maiden voyages fully laden with containers.On September 31, HMM St. Petersburg, the last of the 24K-class series, departed for Europe from the Port of Yantian, China with 19,529 TEUs loaded on board.Consequently, all 24,000 TEU ships delivered to HMM have been entirely filled with cargoes on their first voyages, starting with HMM Algeciras which carried a total of 19…

05 Oct 2020

GTT to Design Tanks for Four New VLECs

GTT said on Monday it has received two new orders for the tank design of four VLECs on behalf of a ship-owner whose name remains confidential at this stage.Korean shipyards Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) will each build two VLECs. Each of the vessels will offer a capacity of 98,000 m3. GTT will design the tanks, which will be fitted with the Mark III membrane containment system. The delivery of the vessels is scheduled for the second quarter of 2022.Designed to be multi-gas units, i.e to transport ethane as well as several other types of gas, such as propylene, LPG and ethylene, the cargo tanks will benefit from the “LNG cargo ready” notation, thus offering the possibility to carry LNG in the future.

23 Sep 2020

Hyundai Discussing Concessions with EU Regulators Over Daewoo Deal

© Genya / Adobe Stock

The world's biggest shipbuilder Hyundai Heavy Industries Holdings Co Ltd is discussing concessions with EU antitrust regulators to allay concerns over its $1.8 billion bid for rival Daewoo, people familiar with the matter said.The deal, in part a response to overcapacity in the sector, would reinforce the South Korean company’s top position with a 21% market share, and comes as rivals in China and Singapore make inroads.The European Commission, which opened a full-scale investigation into the deal last December on concerns it could inflate prices and reduce competition in cargo shipbuilding…

17 Sep 2020

ABS to Class STL's New Very Large Ethane Carriers

Illustration; A shipyard in South Kore - Credit: Stephan Scherhag - AdobeStock

Maritime classification society ABS will class four new 98,000 cbm Very Large Ethane Carriers (VLECs) ordered by China's Zhejiang Satellite Petrochemical (STL)These ethane-fueled VLECs are part of a Phase-2 order from STL and South Korea's Samsung Heavy Industries and Hyundai Heavy Industries will build two VLECs each.ABS, which was the classification society of choice for the first order of the six dedicated VLECs by Reliance Industries in 2014, says that these 87,000 cbm VLECs have been successfully trading and laid the foundation for the next generation of larger VLECs.

14 Sep 2020

Hyundai Heavy's Floating LNG to Power Solution Gets BV Nod

Credit: BV

South Korean shipbuilding giant Hyundai Heavy Industries' Floating LNG to Power solution - Hi-FL2P - has been granted an approval in principle certificate by the global classification society Bureau Veritas.‘Hi-FL2P’ has been described as an ‘All-in-One Type’ Floating LNG Power Plant where all equipment and systems that are required for the power generation and transmission including LNG containment, gas supply system, and power plant are installed in one unit to function as a stand-alone power plant.The ‘Hi-FL2P’ was developed in a Joint Development Project with  Bureau Veritas.

10 Sep 2020

LR Awards Digital Twin Ready AiP to HHI for Gas Containment Tank

Luis Benito, LR’s Marine & Offshore Innovation and Co-creation Director (right) presents the Digital Twin Ready AiP to Seung-Ho Jeon, Executive Vice President of HHI Initial Design Division. (Photo: Lloyd’s Register)

Lloyd’s Register (LR) said it has awarded Approval in Principle (AiP) to Hyundai Heavy Industries (HHI) for its Digital Health Management (DHM) System for a Type B gas containment tank, following a Joint Development Project (JDP) between the two parties launched in November 2019.The system, Hyundai Prismatic Independent IMO Type B Tank eXcellence (HiPIX), has been assessed by LR’s digital experts against LR’s ShipRight Procedure for Digital Compliance, resulting in HiPIX receiving Digital Twin Ready AiP.This approval sets HHI on the path to become a DHM provider to the maritime industry…

03 Sep 2020

DNV GL Awards GASA to HHI for VLCC Concept

DNV GL Regional Manager for Korea & Japan, Vidar Dolonen, presents the GASA certificate to Seung Ho Jeon, Executive Vice President of HHI, in Seoul. (Photo: DNV GL)

DNV GL has presented Hyundai Heavy Industries (HHI) with a general approval for ship application (GASA) for a new concept of very large crude carriers (VLCCs) with a centreline oil-tight longitudinal bulkhead. The new design will reduce potential damage and operational risk by featuring a simpler structural arrangement, loading patterns and piping arrangements. Vidar Dolonen, DNV GL Regional Manager for Korea & Japan, presented the certificate to Seung Ho Jeon, Executive Vice President of HHI…

21 Aug 2020

Bahri Orders Ten Chemical Tankers from Hyundai for $410M

Image Credit: Bahri (Cropped)

Saudi Arabia's national shipping company Bahri has ordered ten 49,999-dwt Medium Range (MR) chemical tankers from Hyundai Mipo Dockyard, part of South Korea's Hyundai Heavy Industries (HHI).Bahri said the order, signed at a virtual ceremony,  was valued $410 million, meaning $41 million per vessel. The first deliveries are expected in the first quarter of 2022.Seung-Yong Park, Chief Operating Officer and Senior Executive Vice President of HHI, said the latest order would bring the tally of various types of vessels that HHI has built for Bahri to 61.In May 2020…

04 Aug 2020

Shell to Charter Six Newbuild LNG Carriers

Image Credit: Shell

Oil and gas giant Shell has signed long-term charters for six newbuild liquefied natural gas (LNG) carriers.Shell has signed separate agreements for two LNG ships each with affiliates of Knutsen LNG, Korea Line Corporation, and ICBC Financial Leasing and institutional investors advised by J.P. Morgan Asset Management.The 174,000 cbm LNG ships will be built by Hyundai Heavy Industries and Hyundai Samho Heavy Industries. They will all be equipped with dual-fuel X-DF engines, boil-off management plants, air lubrication systems and shaft generators for auxiliary power.

27 Jul 2020

Silverstream Air-lubrication Chosen for 8 Newbuilds

(Image: Silverstream )

U.K.-based Silverstream said it has secured orders for air lubrication technology on eight Hyundai Heavy Industries newbuild liquefied natural gas (LNG) carriersSignificant order on Shell-chartered LNG vessels sees proven Silverstream System specified on major newbuild program in South Korea.U.K.-based clean technology company Silverstream Technologies announced it has secured another new deal to install its air lubrication technology onboard eight newbuild liquefied natural gas…

14 Jul 2020

EU Again Halts Probe into Korean Shipbuilding Tie-up

© Angelika Bentin / Adobe Stock

EU antitrust regulators have again halted their investigation into world No.

24 Jun 2020

Hyundai Heavy Industries Consolidates Amid Coronavirus Slump

(Photo: Hyundai Heavy Industries)

The world's largest shipbuilder announced plans to streamline its business amid shrunken demand and mounting market challenges stemming from the coronavirus pandemic.Facing reduced contracting activity, South Korea's Hyundai Heavy Industries announced Tuesday that it will combine its shipbuilding and offshore units in a move aimed at consolidating related businesses while also decreasing its number of executives. The company said it intends to integrate certain departments within the units while eliminating others, ultimately trimming the total organization by 20%.

10 Jun 2020

Hyundai Heavy Industries Inks Deal with CADMATIC

CADMATIC CEO, Jukka Rantala (Photo: CADMATIC)

South Korean shipbuilder Hyundai Heavy Industries (HHI) and Finnish software firm CADMATIC signed a technical cooperation memorandum of understanding (MOU) for the development of next-generation design systems.Through the MOU signed in April, the two companies will carry out cooperation while maintaining the technology partnership to develop next-generation design systems that will be applied to the latest technologies, such as AI, Big Data analysis, advanced modeling and drawing automation.

10 Jun 2020

New Zealand's Largest Ever Naval Vessel Delivered in S. Korea

New Zealand Navy's largest ever ship Aotearoa, built by Hyundai Heavy Industries, is on its way to New Zealand, after Hyundai held a departure ceremony in its shipyard in South Korea on Wednesday.Ordered in 2016, the $493 million Aotearoa is an Auxiliary Oiler Replenishment (AOR) vessel that will be used to support Royal New Zealand Navy’s combat operations, humanitarian relief functions, and operational and training support.The vessel is built according to the Rolls-Royce Environship concept design, with a wave-piercing bow which reduces resistance and lowers fuel burn.

03 Jun 2020

EU Resumes Hyundai, Daewoo Deal Probe

© Angelika Bentin / Adobe Stock

EU antitrust regulators have restarted their investigation into world No.

02 Jun 2020

S. Korean Shipbuilder Shares Soar on $19B Deal with QP

A Hyundai Heavy LNG Carrier - For illustration only - Credit: HHI

Shares in South Korean shipbuilders rallied more than 20% on Tuesday following $19 billion worth of deals to build vessels for Qatar Petroleum (QP).QP said on Monday it has signed agreements with South Korea's "Big 3" shipyards to secure more than 100 ships costing over 70 billion Qatari riyals ($18.65 billion), describing the deals as "the largest LNG shipbuilding in history."The agreements signed with Daewoo Shipbuilding & Marine Engineering Co Ltd, Hyundai Heavy Industries…

01 Jun 2020

Qatar Petroleum in 'Largest LNG Shipbuilding Deal in History'

Saad Sherida Al-Kaabi - Qatar Petroleum CEO

Qatari state-owned oil and gas company Qatar Petroleum has entered into what it says "are the largest LNG shipbuilding agreements in history to secure more than 100 ships valued in excess of QR 70 billion [USD19,2 billion] to cater for its LNG growth plans." Qatar Petroleum said Monday it had entered into three agreements with Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI), and Samsung Heavy Industries (SHI), respectively, to reserve LNG ship construction capacity in South Korea…

27 May 2020

Nakilat Transitions LNG Carrier to In-house Management

LNG carrier Al Kharaitiyat (Photo: Nakilat)

Qatari shipping company Nakilat said it has assumed full ship management and operations of Q-Flex liquefied natural gas (LNG) carrier Al Kharaitiyat from Shell Trading and Shipping Company Limited with effect from Wednesday, as part of the second phase of its planned fleet management transition program.With a cargo carrying capacity of 216,300 cubic meters, Al Kharaitiyat is wholly-owned by Nakilat and chartered by Qatargas. The vessel was built in South Korea by Hyundai Heavy Industries…

27 May 2020

Korean Shipbuilders Get AiP for Ballast Tank Coating

Certification award ceremony for eco-friendly 1 Coat System (AIP) held at the Korean Register of Shipping (Photo: LISCR)

South Korean shipbuilders Hyundai Heavy Industries (HHI) and Hyundai Mipo Dockyard (HMD) have gained Approval in Principal (AiP) for the application of the “solvent free 1 coating system” for ballast water tanks from both the Korean Register of Shipping (KR) and the Liberian Registry.The eco-friendly (solvent free) 1 coating system has been verified for excellent coating quality when compared to the traditional double coating system and has passed quality standards for alternative…

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