South Korea: HHI Holds Naming Ceremony for Two 318.000 DWT VLCC

Hyundai Heavy Industries, the world’s biggest shipbuilder, hailed the New Year by naming two 318,000 DWT VLCC (Very Large Crude Oil Carrier) for an Indian shipping line, GESCO today. In the simultaneous naming ceremony, the vessels were named Maneklal Ujamshi Sheth and Ardeshir HBhiwandiwalla, after the former owner and the founder of GESCO respectively.

Maneklal Ujamshi Sheth was delivered today and Ardeshir HBhiwandiwalla is scheduled to be delivered in the middle of February this year.

Starting with the ships featuring 319m in length, 60m in width, and 30m in depth with service speed of 16.3 knots, Hyundai Heavy plans to deliver 93 ships this year.

Meanwhile, Hyundai Heavy is aiming to secure new orders worth USD 30.6 billion in 2012, 19.6% up from a year earlier and sales of KRW 27.6 trillion (USD 23.9 billion), 9.5% up from last year.

Hyundai Heavy‘s Shipbuilding Division, the world’s number one shipbuilder, leads the shipbuilding industry with a 15% share of the market. The Hyundai shipyard stretches over four kilometers along the coast of Mipo Bay in Ulsan, Korea. The Shipbuilding Division is capable of building all types of ships to meet various demands from its clients. It has nine large-scale dry docks with seven huge ‘Goliath Cranes’. Since the shipyard’s groundbreaking in 1972, Hyundai Heavy’s Shipbuilding Division has garnered many awards and set many records within the shipbuilding industry.

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Shipbuilding Tribune Staff, January 6, 2012; Image: hhi