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Incorporating Clean Shipping International

HHI GROUP YARDS REGISTER NEWBUILD ORDER INCREASE

Tuesday, October 2, 2018 

The three shipyards that form part of Hyundai Heavy Industries Group are seeing an increase in newbuild orders, with the 3Q orderbook registering 129 vessels worth US$10.4 billion.

The latest is order is a pair of 150,000dwt shuttle tankers for Norway’s Knutsen Offshore Tankers. The 279m long KNOT vessels, due for delivery from June 2020, will have an option of a scrubber system to meet the 2020 sulphur cap rules. They will also feature a direct current distribution board (DC GRID) to maximize the efficiency.

Since 2011, the Norwegian owner has ordered a total of nine shuttle tankers

Cumulatively, the current orderbook is substantial increase on the 3Q 2017 orderbook, which registered 103 vessels worth US$6.2 billion, and the largest intake of orders in five years for the Group’s yards – Hyundai Heavy Industries, Hyundai Mipo Dockyard, Hyundai Samho Heavy Industries & Construction. In 2013 the Group won 200 worth $13.9 billion, compared to in the same period of last year.
 
In terms of vessel type, the shipbuilding Group received orders for 31 gas vessels, including 16 LNG carriers, 12 LPG carriers, and 3 ethane carriers. It also received orders for 47 containerships and 47 tankers. 

HHI Group says that with a newbuilding recovery in sight, “shipbuilding prices are expected to reach a high level of profitability compared to last year”.  HHI said it is focusing on high value-added vessels, such as LNG carriers, in line with the market demand following an increase in enquiries for this ship type.

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