Report: HHI in Talks for USD 1 Bn Worth of Deals

Image Courtesy: HHI

South Korea’s shipbuilder Hyundai Heavy Industries is in talks to build up to a dozen very large crude carriers (VLCCs), the value of which could reach USD 1 billion, Yonhap News Agency cited industry sources.

Namely, the company is reportedly negotiating the orders with two undisclosed shipping firms based in Hong Kong and Singapore, respectively.

If the parties agree on the shipbuilding deals, the order would count up to 12 VLCCs, including options.

So far this year, the shipuilder secured contracts for four VLCCs.

Two of these were ordered by crude oil tanker company DHT Holdings in January. Featuring 319,000 dwt, the new VLCCs are expected to join the company’s fleet in July and September 2018.

The other two 300,000-ton VLCCs were ordered en bloc by Greek shipowner Enesel in early February. Scheduled for delivery in the second half of 2018, the vessels were ordered at a price of USD 83 million a piece, according to VesselsValue data.

During 2016, the shipbuilder returned to black as it reported a net profit of KRW 682.3 billion for the full year, compared to a loss of KRW 1.36 trillion seen in 2015.

The company’s operating profit also marked a turnaround as it stood at KRW 1.64 trillion, against an operating loss of KRW 1.54 trillion, while HHI’s revenue dropped by 15 percent to KRW 39.3 trillion from KRW 46.2 trillion in the respective periods.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2017 >>
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

INMEX SMM India 2017

Combining the forces of Maritime industry’s two biggest events, the unified edition of INMEX SMM India brought together the most exclusive…

read more >

LIQUEFACTION OF BULK CARGOES SEMINAR

GET TO GRIPS WITH:
– Mechanisms behind liquefaction
– Guidelines and regulations for bulk cargoes prone to liquefaction…

read more >

Seatrade Offshore Marine & Workboats Middle East

The largest event for offshore marine and workboat sectors in the region, Seatrade Offshore Marine & Workboats Middle East will, once again, serve as a meeting point for international industry professionals to come together and do business. Our 2017 show promises a wealth of networking opportunities, high-level discussions in our conferences on important industry trends, […]

read more >

The Future-Ready Shipping Conference 2017

The Future-Ready Shipping Conference 2017 – the joint Singapore-IMO International Conference on Maritime Technology Transfer and Capacity-Building…

read more >