Korea’s HHI Leads The Competition With 100 Mln Tons of Deliveries

According to the reports of The Korea Times and Yonhap news agencies, Korea’s Hyundai Heavy Industries (HHI) has in its 40 years old history constructed and delivered over 100 million tons of vessels.

With the 4 liquefied natural gas (LNG) carriers and 1 LNG floating storage regasification unit (FSRU) HHI managed, in just a month, to secure a total of $ 1.1 Billion in newbuild orders.

Dow Jones report from January states that HHI’s 2012 annual order and sales targets are up 19.6% and 9.5%, compared to the results from 2011.

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.”

Hyundai Heavy (HHI), 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, March 9, 2012;