News and Updates on HD Hyundai

HHI Wins USD 210-Million Contract for Two Shuttle Tankers

HHI won the USD 210-million contract to build two 153,000 DWT shuttle tankers with Norwegian shipping company KNOT. The vessels will be constructed from the first half of 2019 in HHI’s Ulsan yard and will be delivered in order from June 2020.
With this contract, HHI Group’s shipbuilding units (including Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries) won orders for 129 ships worth a total of USD 10.4 billion at the end of the 3rd quarter this year, 79% of the annual order target of USD 13.9 billion. This is the highest record since 2013 when the Group had orders of 200 ships worth USD 13.9 billion, and up 60% of order amount over the same period last year when the Group showed the orders of 103 ships worth USD 6.2 billion.

Classified by ship types, HHI Shipbuilding Group won the orders of 31 high-value gas carriers including 16 LNG carriers, 12 LPG carriers and 3 ethane carriers, 47 containerships and 47 tankers. Helped with recent signs of market recovery and ship price improvement, the Group’s profitability is expected.

An HHI officer said that “With the recovery of shipbuilding market, focus on high value-added vessels such as LNC carrier produced better results. With constant inquiries on LNG carriers from shipowners, we expect to exceed this year’s order target.”

The shuttle tanker, which measures 29 m in length, 48 m in width and 23.6 m in depth, will be equipped with a ‘Scrubber Ready’ option to meet tighter international environment regulations. It also features thrusters to keep the tanker in position while loading and DC Grid to maximize the efficiency of the cargo pump.

KNOT ordered a total of nine shuttle tankers since 2011.

※ Photo: HHI recently signed contract with KNOT to build two shuttle tankers. HHI’s President Ka Sam-hyun (left) and KNOT’s President Trygve Seglem (right)