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Tuesday, July 14, 2020

Hyundai Heavy Industries Group News

Image: Korea Shipbuilding & Offshore Engineering

KSOE Wades into the Red

South Korean manufacturer of oil tankers, cargo and passenger vessels, and warships, Korea Shipbuilding & Offshore Engineering (KSOE) reported its fourth-quarter net loss of 26.2 billion won (US$ 22.2 million), remaining in the red compared with a year ago.The KSOE is an intermediate holding firm controlling Hyundai Heavy Industries and two other Hyundai Heavy Industries Group shipbuilders.According to a regulatory filing, operating profit for the October-December period last year was 169.9 billion, compared with a loss of 246.4 billion won a year ago.

Image: Hyundai Heavy Industries

HHI Bags Order for 2 Crude Carriers

South Korea shipbuilding giant Hyundai Heavy Industries (HHI) group said that its unit Hyundai Samho Heavy Industries has won a deal to build two crude carriers.The shipbuilding deal worth KRW 158.7 billion (about USD 132.8 million) was signed with an undisclosed company from Oceania on September 23, 2019, HSHI said in a stock exchange filing.According to Yonhap, Hyundai Samho will build two 158,000-deadweight-ton (DWT) crude carriers by May 2021 for the unidentified Oceanian customer.Hyundai Samho…

Image: Hyundai Heavy Industries Group

Hyundai Wins LNG carrier Order from H-Line

Hyundai Samho Heavy Industries (HSHI), a unit of the South Korean shipbuilder Hyundai Heavy Industries (HHI), has won an order for a liquefied natural gas (LNG) carrier.According to a stock exchange announcement by HHI, the deal has a value of $191.2 million.Yonhap reported that, under the deal with H-Line Shipping Co., a midsize South Korean shipper, Hyundai Samho will deliver the vessel with a cargo capacity of 174,000 cubic meters by December 31, 2021.Hyundai Samho, under Hyundai Heavy Industries Group…

Image: Hyundai Heavy Industries

Hyundai Samho Wins Orders for 5 Ships

South Korean shipbuilder Hyundai Samho Heavy Industries, a unit of Hyundai Heavy Industries (HHI), received orders for the construction of five vessels.According to Yonhap, the orders include two liquefied petroleum gas (LPG) carriers and three petrochemical carriers - for some 410 billion won ($337 million) combined.Hyundai Samho will build two LPG carriers with a cargo capacity of 84,000 cubic meters (2.97 million cubic feet) by November 2021 for 197.3 billion won, for  an unidentified…

Photo: Hyundai Heavy Industries

Hyundai Heavy Bags Canadian Facility Order

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…

Photo: Hyundai Heavy Industries

Hyundai Heavy to Raise $1.2B Via Rights Offering

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.

Photo: National Shipping Company of Saudi Arabia (Bahri)

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

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…

Photo: Samsung Heavy Industries

Korea’s Big 3 Yards in Path of Recovery

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.

Image: Itexpo Team

Iran Strikes $2.4bn Ship Order with Korea

Iran has placed orders worth around $2.4 billion with South Korean shipyards for the construction of ships to carry Iran’s oil and petrochemical products, The Wall Street Journal says. The orders have been placed by the Islamic Republic of Iran Shipping Lines (IRISL) and the oil producer Iranian Offshore Oil Company (IOOC). The Korean companies involved in the case are Hyundai Mipo Dockyard, which is a subsidiary of shipbuilding giant Hyundai Heavy Industries Group, as well as Daewoo Shipbuilding and Marine Engineering Company.

Image: Hyundai Heavy Industries

S. Korean Shipyards Order Books Empty?

The global slump in the shipbuilding industry means that South Korea's ship yards have to look far and wide for new orders. Combined, the three major yards have only received one order in the first quarter of the year. Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries (SHI) have received zero new shipbuilding orders, according to sources quoted by local media Yonhap. Hyundai Heavy Industries (HHI) is the only one among the three to have landed a KRW150 billion ($130.6 million) order in March to build two petrochemical tankers.

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HHI Shows Smarter Way to Shipbuilding at KOMARINE 2015

Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder and a leading integrated heavy industries company, announced today it teams up with its shipbuilding affiliates, Hyundai Mipo Dockyard (HMD) and Hyundai Samho Heavy Industries (HSHI), to participate in KOMARINE 2015, a major maritime international exhibition from October 20 to 23 at Hall 3, Booth 3F05, BEXCO, Busan in South Korea. In the biennial event where about 1,200 companies from 40 countries are expected to participate…