Hyundai Heavy to Build Boxships, Tankers for IRISL

South Korean shipbuilder Hyundai Heavy Industries (HHI) has signed contracts to construct 14,500 TEU container ships and 49,000 dwt product/chemical carriers for Islamic Republic of Iran Shipping Lines (IRISL).

The value of the contracts, which were signed in Seoul on December 9, 2016, was not revealed. However, VesselsValue’s data suggests that the deals are worth USD 650 million.

Under the agreements, HHI will build a total of ten vessels, including four Ultra Large Container Vessels (ULCV) and six MR2 tankers, which will meet the latest International Maritime Organization (IMO) Tier III requirement, limiting NOx emission.

The container ships, to be built at HHI’s yard in Ulsan, will be 366 meters long and 48 meters wide, according to the shipbuilder.

The product/chemical tankers will feature a length of 183 meters and a width of 32.2 meters and will be constructed at Hyundai Mipo Dockyard, HHI said.

The negotiations for the contracts signed on December 9 commenced in December 2015 with a series of meetings in Seoul and Tehran, according to HHI.

In addition to the contracts, HHI plans to discuss and pursue technical cooperation related to developing the Iranian shipbuilding industry with a local shipbuilder at the request of IRISL.

The aforementioned contracts are said to be the first shipbuilding orders following the implementation of the Joint Comprehensive Plan of Action (JCPOA), known as Iran nuclear deal, between Islamic Republic of Iran and P (5+1), the UN Security Council’s five permanent members including China, France, Russia, the United Kingdom, and the United States, plus Germany, in January 2016.

After the sanctions were lifted, Iranian shipping companies have been seeking to renew their fleets and restore former shipping links.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2018 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

TRANSTEC 2018

TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >