HHIC Bags LPG Carrier Duo

Hanjin Heavy Industries & Construction’s (HHIC) Yeongdo Shipyard, Korea has signed an agreement to build two LPG/ammonia carriers (38,000㎥) with an undisclosed Southeast Asian ship owner.

The shipbuilding order, the first one received by the shipbuilder this year, is worth US 105 million.

“Thanks to the recent popularity of shale gas in North America, LPG production has dramatically increased. Because of the expansion of consumption and increase in order quantity for LPG carriers among emerging countries, further orders are expected to follow,” said an official from HHIC’s Yeongdo Shipyard.

The state-of-the-art vessels will feature 180m in length, 29m in width and 18m in height, boasting an energy-saving design and resistance-minimizing propellers. The ships will be powered by a G-type engine aimed at cutting emmission of hazardous gases.

HHIC-Phil’s Subic Shipyard already signed a contract to build vessels of the same type (8 vessels in total) in 2013. Last year, the shipbuilder won its bid to build LNG bunker vessels.

HHIC said that its Yeongdo Shipyard has booked enough advance orders for three years of production until the first half of 2017.

 “We are going to establish a high-efficiency global production system with a two-track strategy which means that Subic Shipyard specializes in the production of large vessels and offshore plants while Yeongdo Dockyard focuses on mid-size and special-purpose vessels,” a HHIC official added commenting on the company’s management normalization efforts.