Search results for: Hyundai Heavy

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  • 27 July 2016
    Business & Finance

    South Korean shipbuilding major Hyundai Heavy Industries (HHI) has continued its earnings streak in the second quarter of 2016 following its return to the black in the previous quarter. Namely, according to a stock exchange filing, the shipbuilder’s net income for the period increased to KRW 392.3 billion (USD 345.5 million) from KRW 244.5 billion seen in the previous […]

  • 3 April 2017

    South Korean shipbuilder Hyundai Heavy Industries (HHI) Group will invest $3.1 billion in R&D by 2021. The announcement came on Monday as the South Korean giant hailed the first day as the four independent companies; Hyundai Heavy Industries; Hyundai Electric & Energy Systems; Hyundai Construction Equipment; and Hyundai Robotics. The company’s spin-off plan to split into […]

  • 31 August 2015
    Business & Finance

    South Korean shipyard Hyundai Heavy Industries (HHI) has placed two contracts with Wärtsilä for seawater/propane based regasification modules to be installed on Floating Storage and Regasification Unit (FSRU) vessels. The FSRUs are owned by Höegh LNG, the Norway based owner and operator of floating energy solutions, and by Russian energy company Gazprom. The contracts were […]

  • 27 July 2020
    Authorities & Government, Business & Finance, Equipment, Regulation & policy

    South Korean Fair Trade Commission has fined shipbuilding major Hyundai Heavy Industries Co. for unfair trade with its subcontractors. The KRW 970 million ($805,000) fine is described as the highest fine yet to be imposed by the anti-trust regulator for misusing technologies from other companies. The commission said in a release that Hyundai misappropriated technical […]

  • 19 December 2019

    South Korean shipbuilding giant Hyundai Heavy Industries Group said it has secured orders for a total of six liquefied natural gas carriers from European and Asian shipowners, totaling $1.13 billion. 

  • 28 April 2016
    Business & Finance

    South Korean shipbuilding giant Hyundai Heavy Industries (HHI) has laid off 25 per cent of its executives as a first step within the framework of its massive job-cutting plan, expected to include up to 3,000 jobs. HHI embarked on an ambitious restructuring plan in 2014 which is expected to include slashing of 10 percent of its […]

  • 25 February 2014

    MacGregor, part of Cargotec, has won an order for two subsea cranes from South Korean shipyard Hyundai Heavy Industries Co Ltd. The active heave-compensated cranes will have an SWL of 100-tonnes and 25-tonnes respectively. They will be fitted on board a new 160m heavy construction vessel (hull 2654) being built at the yard for global […]

  • 22 January 2014

    Solvang ASA and partners have signed a contract with Hyundai Heavy Industries, Korea, for the construction of one 60,000 cbm LPG carrier. The vessel is scheduled for delivery in Q3 2015. Solvang now has three sister vessels on order at the shipyard scheduled for delivery between Q1-Q3 2015. Principal Particulars LOA: 203 m Beam: 33.2 […]

  • 7 October 2013

    Hyundai Heavy Industries’ shipyard in Ulsan, South Korea (HHI) delivered LNG vessel ‘Lena River’ (Hull Number 2557) on Friday, 4 October. The Gazprom Marketing & Trading (GM&T) group will time charter ‘Lena River’ from Greek LNG tanker operator Dynagas for several years. She will be the third vessel on charter between GM&T group and Dynagas after […]

  • 17 July 2015
    Business & Finance

    South Korean shipbuilding giant Hyundai Heavy Industries (HHI) and NYSE -listed Accenture are collaborating to design a ‘connected smart ship’ aimed at enabling ship owners to better manage their fleets and achieve potential operational savings through the application of digital technologies. Using a network of sensors that will be built into new vessels, ship owners will […]

  • 25 March 2015
    Business & Finance

    South Korean shipbuilding giant Hyundai Heavy Industries (HHI) has revealed plans to integrate overlapping roles and responsibilities across HHI and its shipbuilding affiliates, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries. The move comes within the conglomerate’s drive to realign the business. HHI recently identified four areas of overlap for phase one of functional integration, […]

  • 21 April 2016

    South Korean shipbuilding company Hyundai Heavy Industries is reportedly set to slash 10 percent of its workforce, a preemptive move to survive the protracted slump in the shipbuilding industry. South Korean Pulse News reported on Thursday, quoting industry sources, that the shipbuilding giant will reportedly cut 10 percent of its total 27,000 employees including those working at […]

  • 21 November 2013

    Mitsubishi Heavy Industries Marine Machinery & Engine Co., Ltd. (MHI-MME), a group company of Mitsubishi Heavy Industries, Ltd. (MHI), has received orders from Hyundai Heavy Industries Co., Ltd. (HHI) of Korea for four Ultra Steam Turbine (UST) plants. The UST plants will be installed on four LNG (liquefied natural gas) carriers that HHI is building […]

  • 27 September 2013

    Knutsen NYK Offshore Tankers AS (KNOT), of which NYK has a 50% share, held a naming ceremony, September 25th, for a new shuttle tanker that is being built at Hyundai Heavy Industries. The ceremony was attended by KNOT president Trygve Seglem, NYK senior managing corporate officer Hitoshi Nagasawa, and NYK corporate officer Svein Steimler, among […]

  • 9 January 2014

    DHT Holdings, Inc. (DHT) has declared its option to construct a Very Large Crude Carrier at Hyundai Heavy Industries Co., Ltd. (HHI) in South Korea. The order for the third VLCC is worth $92.7 million, including certain additions and upgrades to the standard specification. The contractual terms are the same as for the two VLCC […]

  • 30 August 2013

    Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder, announced that it won a USD 1.4 billion order to build five 18,000 TEU class and five 14,000 TEU class containerships from the United Arab Shipping Company (UASC) on August 29. The 18,000 TEU class boxships and 14,000 TEU class boxships are scheduled to be delivered from […]

  • 25 November 2015
    Business & Finance

    All the Chief Executive Officers (CEOs) of the South Korean shipbuilding giant Hyundai Heavy Industries (HHI) will forego their salaries as part of cost cutting measures aimed at restructuring the group and returning back to profit. The measure will include returning of up to 50 percent of directors’ salaries and around 10 percent from department heads, the Korea Times […]

  • 3 December 2018
    Vessels

    South Korean shipbuilder Hyundai Samho Heavy Industries has secured another contract to build a pair of liquefied natural gas (LNG) carriers. Hyundai Heavy Industries said Monday its unit Hyundai Samho will build two 174,000-cbm LNG tankers for an unnamed Asian company. The  LNG carriers worth about $370 million are expected to be delivered in mid-2021. To remind, […]

  • 6 December 2017
    Business & Finance

    Broker reports link Hyundai Heavy Industries to up to seven contracts for 319,000 dwt tankers.

  • 19 December 2005

    Hyundai Heavy Industries (HHI) has successfully developed Korea

  • 31 August 2015
    Business & Finance

    South Korean shipyard Hyundai Heavy Industries (HHI) has placed two contracts with Wärtsilä for seawater/propane based regasification modules to be installed on Floating Storage and Regasification Unit (FSRU) vessels. The FSRUs are owned by Höegh LNG, the Norway based owner and operator of floating energy solutions, and by Russian energy company Gazprom. The contracts were […]

  • 9 January 2018
    Equipment, Infrastructure

    ABS, a provider of classification and technical services to the global offshore industry, granted Approval in Principle (AIP) to Hyundai Heavy Industries (HHI) floating production storage and offloading (FPSO) hull design. “The Newbuilding Conversion FPSO hull design can be built for about half the cost as compared to a conventional FPSO hull,” says Jae-Eul Kim, […]