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Thursday, December 13, 2018

Hyundai Heavy Industries News

Höegh LNG Takes Delivery of Ninth FSRU

Image: Höegh LNG

Bermuda-based  floating liquefied natural gas (LNG) company Höegh LNG Holdings took delivery of Höegh Gannet, its ninth floating storage and regasification unit (FSRU).Höegh Gannet has regasification capacity of 1 Bcf per day and storage capacity of 170 000 cbm of LNG, combined making it the largest FSRU built by capacity, said a release from the company.The unit has been constructed by Hyundai Heavy Industries in South Korea and is equipped with a reinforced GTT Mark III membrane…

HMD Wins $77m LNG Shipbuilding Deal

Hyundai Mipo Dockyard (HMD) became Korea’s first shipbuilder to win an order for a small-to-medium-sized liquefied natural gas (LNG) carrier from a foreign shipping company, gaining momentum to pioneer the emerging small-scale LNG tanker segment.HMD signed a contract with Norway’s Knutsen to build a 30,000 cu. m. LNG carrier for $77 million, with an option for a second vessel of the same specification.The signing ceremony, held in Knutsen’s headquarters office based in Oslo, was attended by Hyundai Heavy Industries’ (HHI) President Ka Sam-hyun and Knutsen’s President Trygve Seglem along with others.The vessel on order from Knutsen is 180 meters in length…

DHT Holdings Bets on Scrubbers

Image: DHT Holdings

Bermuda-based crude oil tanker company DHT Holdings plans to fit exhaust gas cleaning systems on two thirds of its very large crude carriers (VLCCs) to comply with the impending 2020 sulphur cap.The oil tanker owner-operator said that the retrofit program encompass 16 ships built between 2004 and 2012, representing the ships within our fleet that stands to gain the greatest economic benefits. Additionally, the two newbuildings delivered from Hyundai Heavy Industries this year had scrubbers installed…

Inside the LNG Shipbuilding Boom

BP Shipping took delivery of British Partner, the first of a half dozen new 173,400 cu. m. capacity liquefied natural gas (LNG) carriers to be delivered through 2018 and 2019 from the DSME shipyard in South Korea. (Photo: BP Shipping)

South Korean shipyards have seemingly boxed out rivals from the market for building large ships carrying liquefied natural gas (LNG), winning all of the orders for the next three years worth more than $9 billion.Three South Korean yards - Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries and Samsung Heavy Industries - have won the more than 50 orders placed for new large-scale LNG tankers for delivery in the next three years, according to data from the…

KOTC Orders Three LPG Tankers from Hyundai

Pic: Kuwait Oil Tanker Co. (KOTC)

Kuwait Oil Tanker Co. (KOTC), a subsidiary of Kuwait Petroleum Corporation, has ordered three giant liquefied petroleum gas tankers (LPG) from Hyundai Heavy Industries (HHI), the South Korean shipbuilding giant.According to the government's media outlet Kuwait New Agency (KUNA), the order for very large gas carrier (VLGC) is worth KD 64.8 million (around USD 213.3 million).KUNA quoted CEO of KOTC Sheikh Talal Al-Khaled Al-Sabah as saying that the VLGC-LPG gas tankers are part of a tanker-building contract signed with HHI…

South Korea Dominates LNG Shipbuilding

Image: Samsung Heavy Industries

The liquefied natural gas (LNG) carrier orders received by South Korean shipbuilders have more than tripled from last year.According to Reuters, the three South Korean yards - Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries and Samsung Heavy Industries - have won the more than 50 orders for ships carrying LNG, with a total value of $9 billion.According to Clarkson, a shipbuilding research company in the U.K. on Nov. 20, LNG carrier orders from January to October this year totaled 43 units or 6.8 million cubic meters…

Hyundai Heavy Industries Gets Cyber Security-Ready Notation from ABS

Image: Hyundai Heavy Industries

Classification society ABS and Hyundai Heavy Industries (HHI) collaborated to develop cyber security requirements for the ABS Cyber Security-Ready (CS-Ready) Notation for marine assets.A release from ABS said that it issued HHI the first-of-its-kind CS-Ready Notation to a large-scale commercial vessel—a VLCC—delivered in November. “As a global leader in marine cyber security, ABS is pleased to work with HHI to ensure the next generation of vessels is better equipped to address increasing levels of cyber risk,” said John Jorgensen, ABS Chief Scientist, Cyber Security.

Workforce Down by 27% at S. Korea’s ‘Big 3’ Shipbuilders

Image: Samsung Heavy Industries

South Korea's Big Three shipbuilders  - Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) - have hit record low in workforce.According to a report in Business Korea, the total number of employees in South Korea's Big Three shipbuilders has plunged a whopping 27 percent compared to 2011.The “big three” shipbuilders had 36,757 employees on the payroll last year, down 27.04 percent from 50,377 in 2011.The figure decreased to 35…

Höegh LNG's Höegh Esperanza FSRU Arrives at Tianjing, China

Pic: Höegh LNG

Höegh Esperanza, the Floating Storage Regasification Unit (FSRU) unit operated by Norway’s Höegh LNG Holdings, has arrived at the Tianjin LNG terminal in China and started commissioning for FSRU operations.Höegh Esperanza is currently serving a three-plus-one year FSRU/liquefied natural gas carrier (LNGC) time charter with CNOOC Gas & Power Trading and Marketing, said a press release from the LNG transportation and services provider.Under the contract, Höegh Esperanza will be utilised in FSRU mode for a minimum period each year…

Korea's Shipbuilders Rise on Country's Top Ranking for Orders

File Image: AdobeStock / © Burnel1

Shares of South Korean shipbuilding companies jump, boosted by the country's tally of orders in January to October as well as a positive outlook for the sector.outh Korea's volume of orders in Jan-Oct ranked the highest, with the country securing about 45 pct of total orders, according to industry sources citing the lastest data from Clarksons Research.South Korea is expected to remain the top ranked for ship orders this year as it exceeds No. 2 China at 31 pct, according to the report.

Okeanis Eco Tankers Gets Funds for Two VLCC Newbuilds

Photo: Okeanis Eco Tankers

Alafouzos family backed Greek tanker company Okeanis Eco Tankers has secured firm commitments for two secured loan facilities for an aggregate amount of $116.3 million from Credit Suisse AG and BNP Paribas in respect of the financing of two of its VLCC newbuildings, under construction at Hyundai Heavy Industries.According to a press release from Piraeus-based shipping group, the Facilities each carry an interest rate over Libor of less than 2.5%, a 6-year tenor, a blended average repayment profile of 17.5-years…

Another Ballast Treatment System Receives USCG Nod

Marine Safety Center issues Ballast Water Management System Type Approval Certificate to Hyundai Heavy Industries Co., Ltd.The Marine Safety Center issued the 11th U.S. Coast Guard Ballast Water Management System Type Approval Certificate to Hyundai Heavy Industries Co., Ltd., after a detailed review of the manufacturer’s type approval application determined the system met the requirements of 46 CFR 162.060.The treatment principle of the HiBallast BWMS consists of filtration with electrolysis during uptake and neutralization during discharge. This approval covers models with maximum treatment rated capacities between 75 m3/h and 10,000…

ABS Awards AIP to HHI’s Standardized FPSO Topside

Photo: ABS

The global provider of classification and technical advisory services to the marine and offshore industries ABS granted Approval in Principle (AIP) to Hyundai Heavy Industries’ (HHI) Standardized design for a Floating Production Storage and Offloading (FPSO) facility.Initially intended for operations in West Africa, HHI advises its standardized topside design is adaptive to a range of conditions, potentially offering reduced costs and shorter project timelines.“ABS is the world leader in Offshore and in FPSO classification.

ABS Awards AIP to HHI’s Deepwater FLNG Hull

Newbuilding Conversion FLNG design to deliver significant cost savings. Image: ABS

ABS granted Approval in Principle (AIP) to Hyundai Heavy Industries’ (HHI) Deepwater Floating Liquefied Natural Gas (FLNG) hull design.HHI advises the Newbuilding Conversion FLNG hull design for offshore application can be constructed for about 80 percent less than the cost of a conventional FLNG hull. It is based on LNG carrier designs combined with the requirements for FLNG production, such as structural reinforcements to take topside module load and a hull designed to allow…

Hyundai Samho Heavy Bags LNG Capesize Pair Order from H-Line

Pic: Hyundai Heavy Industries

South Korean midsized shipping company H-Line, owned by local private equity firm Hahn & Co, has ordered two liquefied natural gas (LNG)-powered 180,000 dwt capesizes at Hyundai Samho Heavy Industries (HSHI).A report by Yonhap, quoting the Ministry of Oceans and Fisheries sources, said that the LNG-powered 180,000-ton vessels will be used on a route between South Korea and Australia starting from 2021.According to the Ministry, the bulk carriers will be the first LNG ships in South Korea to sail on a foreign shipping route.Hyundai Heavy Industries Co.…

HHI to Build FPS for LLOG Exploration

Image: Hyundai Heavy Industries

South Korean shipbuilder Hyundai Heavy Industries (HHI) has been awarded a contract to build a floating production system(FPS) for LLOG Exploration of the U.S..HHI, the world's biggest shipbuilder by orders, said in a stock exchange announcement that the offshore facility order is worth $454 million from the Louisiana-based, privately-held LLOG Exploration.The floating production storage and offloading unit would be constructed from August next year after a year-long design for completion and delivery in the first half of 2021.LLOG Exploration Company…

Hyundai Merchant Marine to Spend $2.8 Bln on 20 Containerships

(File photo: Hyundai Merchant Marine)

South Korea's largest shipping line Hyundai Merchant Marine (HMM) said it will invest 3.153 trillion won ($2.84 billion) for 20 new large containerships to be delivered by June 2021.In June this year, the company signed letters of intent for ship orders with South Korea's top three shipbuilders Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries.DSME and Samsung will build seven and five 23,000 TEU vessels respectively, which are expected to deliver in the second quarter of 2020.

KNOT Concludes TC Contract for Two Shuttle Tankers

Image: Knutsen OAS shipping

Norway-headquartered Knutsen NYK Offshore Tankers (KNOT) has concluded a time-charter contract for two shuttle tankers with Equinor ASA for a maximum 20-year period starting in the second quarter of 2020.KNOT is a NYK Group company, in which NYK has a 50 percent share.The contract aims to use two 152,000 DWT Suezmax tankers equipped with dynamic-positioning systems built by Hyundai Heavy Industries Co. Ltd. to shuttle crude oil produced in waters off Brazil.Upon commencement of this contract…

Equinor Charters Shuttle Tankers for Roncador Field

Photo of Bodil Knutsen, a current ship within the Knutsen fleet. (Photo: Knutsen NYK Offshore Tankers AS)

Norway's Equinor has entered into time charter contracts with the shipowner Knutsen NYK Offshore Tankers AS (Knutsen) for two newbuild shuttle tankers to transport crude oil from the Roncador oil field in the Campos Basin offshore Brazil.The new vessels will be built at Hyundai Heavy Industries in South Korea and are scheduled to enter operation in 2020.The vessels, which meet all requirements for offshore loading in Brazil, are designed for operations in Brazilian waters and are optimized for intended trading pattern, Equinor said.

Kwispaa LNG Signs FEED Contract of Two At-Shore LNG Hulls

Representatives from Steelhead LNG, Huu-ay-aht First Nations, Hyundai Heavy Industries and the B.C. Provincial government at Gastech 2018 in Barcelona, Spain.  (Photo: Steelhead LNG)

The Kwispaa LNG Project achieved a significant milestone in its development this week as Kwispaa LNG signed a contract with Hyundai Heavy Industries for the Front-End Engineering and Design (FEED) of two At-Shore LNG hulls.This follows the recent Invitation to Tender to shortlisted EPC (engineering, procurement, and construction) contractors for the FEED work on the At-Shore LNG topsides, marine facilities, pre-treatment, and balance of onshore plant facilities. EPC contractor tenderers include Black & Veatch / Samsung Heavy Industries / PCL Industrial Management Inc.…

LR Grants AiP for LPG-fueled Gas Carrier

David Barrow, LR Commercial Director – Marine & Offshore presenting the AiP to Kisun Chung, Deputy COO in Group Ship/Offshore Marketing of HHI and CEO in Hyundai Global Service at Gastech (Photo: LR)

South Korean shipbuilder Hyundai Heavy Industries (HHI) has received Approval in Principle (AiP) from Lloyd's Register (LR) for a very large gas carrier (VLGC) design capable of using liquefied petroleum gas (LPG) as fuel.LPG presents advantages over marine diesel oil (MDO) and heavy fuel oil (HFO) when a VLGC is able to utilize the LPG cargo on board as a fuel. However, safety issues need to be thoroughly examined particularly in relation to potential leaks of LPG in a confined space and the implications for ventilation.

Hyundai Mipo Dockyard Licensed by GTT

GTT has signed a Technical Assistance and License Agreement (TALA) with South Korean shipbuilder Hyundai Mipo Dockyard (HMD) targeting the outfitting of gas carriers, in particular small and middle scale (up to 50,000 m3) and liquefied natural gas (LNG) fuel tanks for merchant ships.Hyundai Mipo obtained its license after completing a qualification process that began in April 2018, including the construction of a Mark III Flex mockup and an audit lead by GTT.The shipyard is now the third among the Hyundai group to be licensed by GTT. The two other construction sites, Hyundai Heavy Industries and Hyundai Samho Heavy Industries, have been…

Rosneft Orders Two Oil Tankers from Zvezda Shipyard

A previously delivered vessel of the same class of Green Funnel tankers (Courtesy SCF Group)

Russian oil company Rosneft announced it has ordered two Aframax crude oil tankers to be built at Russia's far eastern Zvezda shipyard for scheduled delivery in 2022.The Russian-flagged vessels will have a deadweight of 114,000 metric tons and a 1A/1B ice class, which makes them able to operate in icy conditions year round, including in sub-Arctic seas and Russian ports of the Baltic region, said Russian shipping company PAO Sovcomflot (SCF Group).According to the documents, Arctic Leasing will place orders for construction of the two Aframax tankers at the shipyard…

Maritime Reporter Magazine Cover Dec 2018 - Great Ships of 2018

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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