Hyundai Heavy wins order for two crude carriers

Hyundai Heavy Industries (HHI), the biggest shipbuilder in South Korea, has secured an order for two crude oil carriers.

Source: Flickr – under the CC BY 2.0 license. Image by Jasmine Halki

As informed, the contract is worth ₩149.8 billion (around $122 million).

It was signed with an unnamed European shipowner on 6 May, HHI said in a stock exchange filing.

The vessel duo is scheduled to be delivered to its owner by mid-February 2022, the shipbuilder added.

HHI has so far this year received orders worth $1.4 billion to construct 22 ships, according to Yonhap.

HHI is a shipbuilding unit of Korea Shipbuilding & Offshore Engineering Co, together with Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard. In the first quarter of this year, Korea Shipbuilding & Offshore Engineering Co posted a net profit of ₩ 1,64.9 billion up, by 853.2 per cent year over year.

Operating profit for the quarter stood at ₩ 121.7 billion, up by 251.7 per cent, while sales rose 20.4 per cent reaching ₩ 3.94 trillion.

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