Hyundai Heavy Industries News

25 Jul 2019

Ocean Yield Adds Another VLCC Newbuild

Image: Ocean Yield

Norway-based shipping company Ocean Yield has taken delivery of Nissos Antiparos, a VLCC newbuild delivered from Hyundai Heavy Industries in South Korea, the fourth and final VLCC that has been delivered to the company in 2019.The VLCC commenced a 15 years' bareboat charter to Okeanis Eco Tankers Corp with a 5 years' sub-charter to Koch Shipping Pte. Ltd.Okeanis Eco Tankers was established in 2018 by the Alafouzos family to take over its fleet of modern tanker vessels and tanker newbuildings.With seven tankers built 2015 to 2018 and eight VLCCs for delivery in 2019…

24 Jul 2019

Hyundai Group Hires GTT for LNGC Tank

Image: GTT

French liquefied natural gas containment system specialist GTT has received two orders from the Hyundai group concerning the tank design for two LNG carriers.The French LNG storage specialist said that the two LNGCs will be built in Hyundai Heavy Industries (HHI) and Hyundai Samho Heavy Industries (HSHI) shipyards in Korea.The two LNGCs have a capacity of 180,000 m3, for the first and 174,000 m3, for the second, on behalf of two ship-owners which names remain confidential at this stage.GTT’s Mark III Flex membrane containment system has been selected to equip the tanks of the vessels…

22 Jul 2019

Floating LNG Power Vessel Market to $1bln by 2025

Pic: Wärtsilä

The global floating LNG power vessel market was USD 931 million in 2018 and is anticipated to reach USD 1,041 million by 2025, at a CAGR of 1.61% between 2019 and 2025.The floating LNG power vessel market is likely to experience significant growth over the upcoming years, owing to the growing demand for floating LNG power vessels, increasing power generation demand, and the lack of power infrastructure, said a market report by Zion Market Research.The floating LNG power vessel market is fragmented based on component, power output, and vessel type.

16 Jul 2019

Hyundai Global Service, Intellian Partner

Intellian and HGS sign partnership (Photo: Hyundai Global Service)

Intellian signed a strategic partnership  with Hyundai Global Service (HGS), a subsidiary of the shipbuilding company Hyundai Heavy Industries (HHI) group, on July 15 at Centum Science Park in Busan, Korea.As the first step of the cooperation, both companies will expand HGS’ innovative ‘Integrated Smart Ship (ISS)’ solution; a digital ecosystem for vessel and fleet management, incorporating a  data analysis platform. This solution supports optimal vessel operation and management and is expected to reduce fuel costs by over 6% per year.

16 Jul 2019

SENER, HHI MoU for Digital Transformation

Image: SENER Group

The engineering and technology SENER and the world's largest shipbuilding company Hyundai Heavy Industries (HHI) have signed a Memorandum of Understanding (MoU)  to work together in the field of computer-aided systems for ship design and production.Both companies agreed to share knowledge on requirements and roadmaps to set new paradigms for the design, building and operation of future ships, including Artificial Intelligence, Digital Twin, Internet of Things and Virtual Commissioning…

12 Jul 2019

H-Line Orders LNG bulkers at Samho

Image: Hyundai Heavy Industries

Hyundai Samho Heavy Industries Co (HSHI), the Korea supplier of ship, tanker ship, bulk carriers ship, container ship, LNG ship, said it has clinched a deal to build two bulkers fueled by liquefied natural gas (LNG).According to a Yonhap report, under the deal with H-Line Shipping Co., a midsize South Korean shipper, Hyundai Samho will build two 180,000-ton vessels, which will be used on a route between South Korea and Australia starting in 2022.HSHI has not revealed the value of the deal…

12 Jul 2019

HMD Wins $138mln Order for 2 Car Carriers

© By Suriyapong / Adobe Stock.

South Korea-based company engaged in the production and sale of ships, Hyundai Mipo Dockyard Co (HMD) has won a 163 billion-won (US$138 million) order to build two car carrier ships.According to a stock exchange announcement from the Hyundai Heavy Industries (HHI) unit, HMD will build the vessels by March 2022 for  a European shipper. It declined to identify the buyer.This is the first ro-ro order of this year for HMD.According to Yonhap, HMD posted sales of 705 billion won in the first quarter of the year, with its operating profit reaching 26.1 billion won.

10 Jul 2019

Saudi Arabia, HHI to Build Marine Engines, Pumps

Saudi Arabian Industrial Investments Co (Dussur) has signed a joint venture with Saudi Aramco and Hyundai Heavy Industries to manufacture engines and marine pumps for marine and electric power plants, it said in a statement on its website.The venture will be located in the kingdom's Eastern Province at Ras Alkhair, and the marine engine manufacturing facility will be the first in the Middle East and North Africa region, the statement said.Reporting by Nafisa Eltahir

08 Jul 2019

Ocean Yield Adds New VLCC with Charter

Image – Credit: Ocean Yield ASA / LinkedIn

Norway-based shipping company Ocean Yield ASA announced that it has taken delivery of the VLCC "Nissos Santorini".The vessel was delivered from the yard Hyundai Heavy Industries in South Korea and is the third in a series of four VLCCs that will be delivered to the Company in 2019, it said."Upon delivery, the vessel commenced a 15 years' bare-boat charter to Okeanis Eco Tankers Corp  with a 5 years' sub-charter to Koch Shipping Pte. Ltd," it said in a press release.Okeanis Eco…

02 Jul 2019

Hyundai Seeks Approval For DSME Merger

Image: Hyundai Heavy Industries (HHI)

South Korean shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group has officially started the process to earn approval from anti-trust regulators for its proposed takeover of Daewoo Shipbuilding and Marine Engineering Co. (DSME).HHI has submitted a request for the formal approval from the South Korea’s Fair Trade Commission (FTC), as well as from antitrust authorities in Japan, China, Kazakhstan and the European Union.According to Yonhap New Agency the shipbuilding major would submit further requests for approval to other countries.Meanwhile…

28 Jun 2019

Hyundai Signs MoUs with Saudi Aramco

Photo: Saudi Aramco

As part of its long-term downstream growth and diversification strategy, the Saudi Arabian national petroleum and natural gas giant Saudi Aramco signed an agreement with South Korea's Hyundai Heavy Industries (HHI), and The Saudi Arabian Industrial Investments Company (Dussur).The agreement will establish a joint venture (JV) for a world class engine manufacturing and after sales facility in Saudi Arabia. Under the partnership, Saudi Aramco will own 55% of the JV, while HHI and Dussur will own 30% and 15% respectively.Meanwhile…

28 Jun 2019

Bahri Orders First VLCCs from IMI

Photo: Bahri

Bahri, the world's largest owner and operator of very large crude carriers, has signed a Memorandum of Understanding (MoU) to build its first very large crude carrier (VLCC) at the International Maritime Industries (IMI) yard in Saudi Arabia.The agreement signed with IMI and Hyundai Heavy Industries (HHI), one of the partners in IMI, sees Bahri committing the new mega-shipyard its first order before the end of July 2019.Following the placing of the order, IMI will engage HHI as a sub-contractor to build the vessel in South Korea.

17 Jun 2019

GTT Wins Tank Design Order from HHI

Image: GTT

French liquefied natural gas containment system specialist, Gaztransport Et Technigaz SA (GTT) has been contracted by Hyundai Heavy Industries (HHI) to design tanks for two LNG carrier newbuilds.The engineering company said in a press release that the vessels were being built on behalf of the Greek ship-owner Dynagas.Each vessel offering a capacity of 180,000 m3, these units will be equipped with tanks fitted with the Mark III Flex+ containment system, it said. The vessels’ delivery is expected for the first semester of 2022…

13 Jun 2019

Jotun Signs Agreement with HHI

From left: Chairman of Jotun; Odd Gleditsch d.y. and CEO of Hyundai Heavy Industries; Ka Sam-Hyun, in the middle Minister Sung Yun Mo, Ministry of Trade, Industry and Energy of Korea (Photo: Emanuele Lombardo)

Norwegian paints and coatings company Jotun Group announced that  it signed a memorandum of understanding with the world’s largest shipyards for a new type of marine paint that reduces solvent emissions by up to 90 percent.A memorandum of understanding has been signed with Korean Hyundai Heavy Industries (HHI). This is the starting point of a closer cooperation and the use of a new, innovative solvent-free primer.The signing took place between Jotun's chairman Odd Gleditch (Jr). and HHI's Chief Executive Ka Sam-Hyun during the South Korean President's state visit to Norway in June.

11 Jun 2019

Ocean Yield Takes Delivery of New VLCC

Nissos Despotiko. Photo: Ocean Yield ASA

Norway-based ship owning company Ocean Yield ASA has taken delivery of the very large crude carriers (VLCC) Nissos Despotiko.The vessel was delivered from the yard Hyundai Heavy Industries in South Korea and is the second in a series of four VLCCs that will be delivered to the Company in 2019.Upon delivery, the vessel commenced a 15 years' bareboat charter to Okeanis Eco Tankers Corp (Okeanis Eco Tankers) with a 5 years' sub-charter to Koch Shipping Pte. Ltd.Okeanis Eco Tankers…

11 Jun 2019

Gagarin Prospect Wins Award

Photo: Sovcomflot

Gagarin Prospect, an LNG-fuelled Aframax crude oil tanker owned and operated by Sovcomflot (SCF Group), has won Next Generation Ship Award 2019, which was announced at Nor-Shipping 2019.President & CEO of Sovcomflot Sergey Frank has received the award from Norwegian Minister of Trade and Industry Torbjørn Røe Isaksen in the presence of His Majesty King Harald V of Norway.With a focus on innovation, the Next Generation Ship Award honors the most promising design for ships that will be at sea in the coming decade…

07 Jun 2019

LR Approves HHI's VLCC 'Eco-Tanker' Design

Pics: LR

Lloyd's Register (LR), international provider of classification, compliance and consultancy services to the marine industry, has presented Hyundai Heavy Industries (HHI) with approval in principle (AiP) for a Very Large Crude Carrier (VLCC) ‘eco-tanker’ design, capable of using a combination of volatile organic compounds (VOC) mixed with LNG as fuel and Norsepower’s rotor sail solution for wind-assisted propulsion.This development was the result of a joint development project (JDP) collaboration between HHI…

06 Jun 2019

Inmarsat, Hyundai Sign Digitalization Pact

Image: Inmarsat

British satellite telecommunications company Inmarsat plc has signed a business cooperation agreement that allows Hyundai Global Service (HGS) to offer ship owners and managers a total care solution route to maritime digitalisation.South Korea's HGS was established in 2016 by parent group Hyundai Heavy Industries as a digital transformation solutions provider to optimise ship operations and performance.The ground-breaking agreement paves the way for a cooperation that will include the use of Fleet Xpress Dedicated Bandwidth Services by HGS to support its digital services for ship owners…

31 May 2019

Shareholders OK HHI Split-up Plan

Pic: Hyundai Heavy Industries

Shareholders of Hyundai Heavy Industries (HHI) have approved the South Korean shipbuilder's split-up plan amid fierce opposition from its labor union.According to local media reports, Hyundai Heavy Industries, , South Korea's largest shipbuilder, is now divided into mid-holding companies and subsidiaries engaged in shipbuilding, special ship, offshore plant, engine and machinery business.HHI changed its name and mission to the Korea Shipbuilding & Marine Engineering Co., Ltd.

29 May 2019

HSL Signs Pact with Turkish Shipyard

Photo: Hindustan Shipyard Limited

India's Hindustan Shipyard Limited (HSL) has finalized Anadolu Shipyard (ADIK) Istanbul, Turkey, as their collaborator for construction of five Fleet Support Ships (FSS) for Indian Navy worth more than INR 160 bln (US$ 2.3 bln).The Istanbul-based shipyard is a member of TAIS group in Turkey and will support HSL in designing and assist in construction. HSL Chairman and Managing Director Rear Admiral LV Sarat Babu said that this will enable HSL to imbibe best ship building practices and modern technology — pre-outfitting…

24 May 2019

HHI Bags $390mln Order for 2 LNG Carriers

Image: Hyundai Heavy Industries

South Korean shipbuilding giant Hyundai Heavy Industries (HHI) said  it received an order to build two liquefied natural gas (LNG) carriers for an unidentified European shipping company.Yonhap news agency quoted the shipbuilder saying that the order is valued at 463 billion South Korean won ($390 million), bringing its total number of orders to five so far this year.The 180,000 cbm vessels, ordered by an undisclosed European owner, are scheduled for delivery by the end of June 2022.According to the report…

13 May 2019

"Big Three" Korean Yards Vie for Qatari LNG Ships

Pic: Qatargas

The state-run Qatar Petroleum (QP)  has revealed plans to order 60 new LNG carriers preferably from South Korean shipyards. Qatar's energy minister, Saad Sherida Al-Kaabi, who is also CEO of Qatar Petroleum, said the company plans to order 60 new LNG carriers.QP has sent invitations to tender reserve shipbuilding capacity for LNG carriers to major shipbuilders across the world, including HHI, DSME and SHI.Most LNG carriers owned by Qatar were built by Korea’s top three shipbuilders…

13 May 2019

DNV GL Grants AiP for Hyundai's FLNG Barge

Photo: DNV GL

Classification society DNV GL has announced that it has awarded Hyundai Heavy Industries with an approval in principle (AiP) for the design of a jetty-moored nearshore floating LNG (FLNG) barge.DNV GL reviewed the design based on the feasibility of constructing the FLNG barge using standard shipbuilding rules and techniques, said a release.The Approval in Principle (AIP) certificate confirms that DNV GL has found no significant obstacles to prevent the concept from being realized…

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