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Tuesday, August 14, 2018

Hyundai Heavy Industries News

ABS to Class Kyklades VLCCs

ABS said it has been selected to class two additional very large crude carriers (VLCC) being built for Greek shipping company Kyklades Maritime Corporation. The contract brings the number of Kyklades VLCC orders classed by ABS to four, with two already under construction.The 319,000-dwt vessels, each 330 meters long, are being built by Korean shipbuilder Hyundai Heavy Industries (HHI) and are expected to be delivered in 2020.ABS Vice President, Europe, Vasillios Kroustadis, said, “ABS is the number one class society in Greece and a global leader in the classification of tankers. Our selection for this project reflects our strong reputation in both areas.”ABS said it has a 29 percent share of the global tanker orderbook.

Interview: Robert Kunkel, Alternative Marine Technologies

Bob Kunkel needs no introduction to Marine News readers. Kunkel, President of Alternative Marine Technologies, previously served as the Federal Chairman of the Short Sea Shipping Cooperative Program under the Maritime Administration and Department of Transportation from 2003 until 2008. A past Vice President of the Connecticut Maritime Association, he is a contributing writer for Maritime Logistics Professional magazine and of course, Marine News. A graduate of the Massachusetts Maritime Academy…

Hyundai Merchant Marine Signs LoI for 20 Vessels

Photo: Hyundai Merchant Marine Co

South Korea's Hyundai Merchant Marine (HMM) has selected  country’s three major shipbuilder and signed letters of intent (LOIs) with them to build 20 container carriers by mid-2021, reported Yonhap. According to company sources, as quoted by Reuters, the South Korea’s largest shipper believes that through the acquisition of the most technologically advanced mega container ships, it can strengthen cost competitiveness and react rapidly to the international environmental regulations.

'Hyundai Town' Grapples with Slowed Shipyard and Grim Future

(Photo: Hyundai Heavy Industries)

When Lee Dong-hee came to Ulsan to work for Hyundai Heavy Industries five years ago, shipyards in the city known as Hyundai Town operated day and night and workers could make triple South Korea's annual average salary.But the 52-year-old was laid off in January, joining some 27,000 workers and subcontractors who lost their jobs at Hyundai Heavy between 2015 and 2017 as ship orders plunged.To support their family, Lee's wife took a minimum wage job at a Hyundai Motor supplier.

DHT Orders Scrubbers for 12 VLCCs

DHT Holdings, Inc. will have exhaust gas cleaning systems, also know as scrubbers, retrofitted on a dozen of its tanker vessels ahead of the IMO Sulphur Cap due to enter force January 1, 2020.The Bermuda headquartered ship owner said it has entered into agreement with manufacturer Alfa Laval to supply the systems and has also secured shipyard capacity to install all systems within 2019.The scrubbers will be installed on very large crude carriers (VLCC) built between 2012 and 2004, “the part of the fleet that stands to achieve the greatest economic benefit,” the ship owner said.“We look at the upcoming IMO Sulphur Cap as an opportunity for DHT rather than a threat. We come well prepared and are very pleased with the timely project we have put in place.

ABS to Class FSRU for Turkey's BOTAS

Classification society ABS said it was selected to class a floating storage and regasification unit (FSRU) for Turkey’s oil and gas pipeline operator BOTAS.“As demand for gas has increased over the last decade, the supply chain has had to adapt and figure out new ways of getting gas to expanding markets,” said Jamie Smith, ABS Senior Vice President and Chief Business Development Officer. “FSRUs, like this one for Turkey, are providing gas distributors and suppliers an efficient and effective solution for getting their product to consumers.”Planned to be built at Korea’s Hyundai Heavy Industries shipyard, the FSRU will have a 170,000 cubic meter storage capacity and a 1,000 MMSCFD LNG discharge capacity. The FSRU will be jetty moored off the coast of Turkey and operated by Mitsui O.S.K.

Global FPSO Market to Exceed USD 115 bln by 2024.

Image: BW Offshore

Global FPSO Market is anticipated to witness growth of 19% and exceed USD 115 billion by 2024. Rising demand of hydrocarbons and increase drilling activities for exploration and production will drive the industry growth.Increase in the conversion of vessel to FPSO to augment the productivity and minimize the capital expenditure may complement the business growth, said a report from Global Market Insights.Converted FPSO market is witnessed to grow over 18%. Comparison with new built…

Government Okays USD 1.2 bln for Korea Ocean Business Corporation

File Photo: Hanjin

The government of South Korea decided to invest 1.35 trillion won (USD 1.2 billion) in Korea Ocean Business Corporation (KOBC). The compnay was created in order to help its shipping industry stand on its feet, especially after the bankruptcy of Hanjin Shipping.Yonhap reported quoting the finance ministry that Cabinet approved a plan to contribute 12.7-percent stakes in each of the country's four port authorities to the KOBC.Earlier this month, the corporation was officially launched in Busan…

AMPTC Inks Deal with ASRY for BWTS Installs

Sea Jewel, the first AMPTC vessel to receive BWTS retrofit from ASRY (Photo: ASRY)

Egypt-based Arab Maritime Petroleum Transport Company (AMPTC) has signed a deal with Bahrain-based maritime repair and fabrication facility ASRY to install ballast water treatment systems (BWTS) on part of its fleetThe agreement has already seen one system installed the very large crude carrier (VLCC) Sea Jewel, with a further two more vessels agreed to have installations in the coming months. Negotiations continue to extend the agreement to include more installations throughout 2018 and 2019.ASRY Ship Repair General Manager…

GTT to Equip FSRU Newbuild

GTT has received an order notification from South Korean shipyard Hyundai Heavy Industries (HHI) to equip a new floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system.The FSRU of 170,000 m3 will be built on behalf of a European ship-owner. Its delivery is scheduled in 2020."We are very pleased to pursue our long-term partnership with HHI through this project," commented Philippe Berterottière, Chairman and CEO of GTT. "FSRU are the prime solution chosen by operators as they constitute an economical alternative to onshore storage terminals and offer a higher flexibility, with reduced construction delays. The Mark III technology is perfectly competitive and adapted to this vessel type."

Hyundai Merchant Marine Selects 3 Yards to Build Eco-Friendly Mega Containerships

Photo: HMM

Since HMM sent out a Request for Proposal (RFP) to shipbuilding companies on April 10, HMM has considered all the conditions for newbuilding including delivery date and price of new ships suggested by shipbuilders, and finally selected three shipbuilders to sign a Letter of Intent (LOI) for 20 new vessels. First, HMM chose Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries (SHI) for seven and five 23,000 TEU containerships respectively which are expected to deliver in the second quarter of 2020.

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."

Construction Begins on Saudi Aramco's Shipyard Joint Venture

Construction work has begun on a joint venture to build a shipyard on Saudi Arabia's eastern coast, oil rig builder Lamprell Plc said in a statement on Friday. The joint venture, International Maritime Industries (IMI), started operations after reaching agreement for a loan from the state-backed Saudi Industrial Development Fund (SIDF), the statement said. The SIDF agreed in principle last year to provide 3.75 billion riyals ($1 billion) in financing for the project. IMI is a partnership between United Arab Emirates-based Lamprell, state oil giant Saudi Aramco, National Shipping Co of Saudi Arabia (Bahri) and South Korea's Hyundai Heavy Industries Co.

Korea Lines orders two VLCCs at Hyundai Heavy

Photo: Hyundai Heavy Industries (HHI)

South Korean shipping firm Korea Line Corporation (KLC) has placed an order for two new very large crude carriers(VLCC) at country's biggest yard, Hyundai Heavy Industries (HHI), and the company will explore further collaborations with the country's shipbuilders. According to Yonhap news agency, the new VLCCs are expected to have been delivered by the  2020. The total amount of the agreement will amount at 185.6 billion won (US$173 million). The carriers, which can hold 300,000 tons of crude oil each…

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.

MAN Diesel & Turbo, HHI-EMD Invest in New Test Facility

Views of the MAN B&W 2S5ME-C-GI test engine bound for HHI-EMD. (Photo: MAN D&T)

As the global maritime industry steams toward ever-stricter fuel and emission rules, industry leaders such as MAN Diesel & Turbo and Hyundai continue to invest in facilities and technologies. In the most recent case, MAN D&T said today it will build a new test-engine facility in collaboration with its two-stroke licensee, HHI-EMD, the engine and machinery division of Hyundai Heavy Industries. The new venture -- located in Ulsan, Korea at HHI-EMD’s works and scheduled to open in 2019 -- will expand MAN Diesel & Turbo’s R&D test capacity and strengthen its development of dual-fuel gas engines.

Ship Design: New Partners Join ‘Digital Twin’ Project

(Image: Rolls-Royce)

New partners have joined the Open Simulation Platform (OSP) initiative, which aims to create an open source digital platform which will allow the creation of so called “digital twins” in the design of ships. The initiative was launched this week at the Norwegian Maritime Competence Centre in Ålesund. In July last year Rolls-Royce Marine, The Norwegian University of Technology Science (NTNU), research organization SINTEF Ocean and classification society DNV GL signed a memorandum…

LR Grants Approval in Principle for HHI’s LNG-fueled VLOC

South Korean shipbuilder Hyundai Heavy Industries (HHI) has received approval in principle (AiP) from Lloyd’s Register (LR) for a 250,000-deadweight-ton (dwt) class very large ore carrier (VLOC) fueled by liquefied natural gas (LNG). HHI, who has been focusing its efforts on LNG-fueled ships ahead of the International Maritime Organization’s (IMO) SOx emission limitations from 2020, set out on a joint development project (JDP) last year with LR, ship owner and operator ANANGEL and LNG supplier WOODSIDE to develop the LNG-fueled 250,000 dwt VLOC design optimized for the trade route from North West Australia to North Asia, based on the XDF engine.

China Okays Merger of Two Largest Shipbuilders - Bloomberg

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

China's cabinet has given preliminary approval to merge the country's two largest shipbuilders, China State Shipbuilding Corp with China Shipbuilding Industry Corp, Bloomberg reported on Friday, citing people familiar with the matter. It said the move, which will create a firm that will dwarf its South Korean rivals such as Hyundai Heavy Industries Co , could still be subject to change as many details needed to be ironed out by ministries and regulators. The two companies have…

FSRU Höegh Esperanza Delivered

Höegh Esperanza (Photo Höegh LNG)

Höegh LNG Holdings Ltd. took delivery of Höegh Esperanza, its eight floating storage and regasification unit (FSRU). The FSRU was constructed at Hyundai Heavy Industries in South Korea and is designed for open, combined and closed loop regasification operation. It has a storage capacity of 170 000 cbm of LNG and a maximum regasification throughput of 750 million standard cubic feet per day. It is equipped with a GTT Mark III membrane containment system and dual-fuel diesel-electric (DFDE) propulsion.

MAN D&T Scoops 11 MSC Vessel Order

Company to fit MSC newbuildings with both main and auxiliary engines Photo by MAN

MAN Diesel & Turbo has won the order from MSC Mediterranean Shipping Company for 11 × 23,000 TEU container vessels equipped with 11 × MAN B&W 11G95ME-C9.5 main engines. Samsung Heavy Industries (SHI) will construct six of the vessels while Daewoo Shipping Marine Engineering (DSME) will construct the remainder. Bjarne Foldager, Vice President – Sales & Promotion, Two-Stroke Business – MAN Diesel & Turbo, said: “This order underlines the positive, long-term business relationship between MSC and MAN Diesel & Turbo.

LNG Carrier Seri Camar Delivered to MISC

MISC's Fifth MOSS-Type LNG Carrier, the Seri Cemara Photo MISC

Malaysian shipping firm MISC Group has taken delivery of Seri Cemara, the final vessel in a series of five MOSS-Type liquefied natural gas (LNG) carriers built for long-term charter to Petronas.The 150,200 CBM LNG carrier has been built for MISC by South Korean shipbuilder Hyundai Heavy Industries Co., Ltd. (HHI). Upon its delivery, Seri Cemara joins her sister MOSS-Type carriers Seri Camellia, Seri Cenderawasih, Seri Cempaka and Seri Camar on long-term charter to Petronas.The…

LR to Class India’s First FSRU

Logo: Lloyd's Register

Lloyd’s Register (LR) said it signed a contract to class the first ever floating storage regasification unit (FSRU) to be ordered for Indian waters.Due for delivery in December 2019, the new 180,000m³ FSRU will be built to LR’s Rules for the Classification of Offshore Units by South Korean shipbuilder Hyundai Heavy Industries (HHI) for SWAN LNG Pvt. Ltd. (SLPL). It will be stationed at Jafrabad port for 24h-hours-a-day operations, 365 days a year.SLPL’s Bhavik Merchant said, “Our…

Maritime Reporter Magazine Cover Aug 2018 - The Shipyard Edition

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