100 Million Tons of Ships, Hyundai Heavy Surpasses All Others
No other shipbuilding company in the world has ever built more.
According to the Korea Times,
Hyundai Heavy has delivered a total of 1,805 diverse types of ships, ranging from drilling vessels, LNG or LPG carriers and container ships to submarines and naval ships, to more than 280 ship owners in 49 different countries.
The ships include 510 container ships, 351 oil tankers, 343 bulk carriers and 124 product carriers.
Last month, HHI won orders for 4 liquefied natural gas (LNG) carriers and 1 LNG floating storage regasification unit (FSRU) worth USD $1.1 billion. The orders included two 162,000 cbm LNG carriers for Golar LNG of Norway and two same-class ships for an unnamed European shipowner.
According to a Dow Jones report in January, HHI’s 2012 annual order and sales targets are up 19.6% and 9.5%, respectively, from its results in 2011, when it booked $25.54 billion in orders and KRW25.2 trillion in sales.
Asian shipyards such as HHI are bracing for challenging times ahead however as current oil prices increase operating costs, a glut of containerships and tankers put heavy downward pressure on freight rates, and newbuild ship financing becomes increasingly more complex for shipowners.
- 13 Ships, $1.7 Billion in New Orders Placed YESTERDAY (gcaptain.com)
- U.S. LNG Imports Nosedive in Jan (mb50.wordpress.com)
- USA: Sabine Pass LNG Gets Cargo (mb50.wordpress.com)
- USA: Golden Pass LNG Plans Re-Exports (mb50.wordpress.com)
Posted on March 9, 2012, in Asia, East Asia, South Korea and tagged Floating production storage and offloading, Hyundai Heavy Industries, Hyundai Heavy Industries (HHI), Korea Times, Liquefied natural gas, Liquefied petroleum gas, LNG, Sabine Pass LNG, South Korea, Yonhap. Bookmark the permalink. Comments Off on 100 Million Tons of Ships, Hyundai Heavy Surpasses All Others.