HHI Group Bolsters Orderbook ahead of Year End

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

Orders at South Korea’s Hyundai Heavy Industries Group are speeding up ahead of year end as the shipbuilder has won two more contracts for four vessels.

HHI has signed the KRW 438 billion (USD 376 million) construction contract with an unnamed Bermuda-based company for two LNG carriers, the shipbuilder said on December 23.

The 174,000 cbm vessel pair will be built at the HHI shipyard in Ulsan and is scheduled to be delivered by the end of 2022.

With a length of 299 meters and a width of 46.4 meters, each ship will feature dual-fuel propulsion engines that would enhance their operational efficiency, according to Hyundai Heavy.

What is more, Hyundai Mipo Dockyard, part of the HHI Group, recently secured an order for two gas carriers from an undisclosed company from the USA.

The deal, unveiled on December 20, is worth KRW 148.2 billion (USD 127 million).

The newbuilds are planned to be handed over to their owner by July 31, 2022.

During the past week, the group received orders for a total of eighteen vessels worth USD 2.2 billion.

These orders helped HHI reach 74 percent of its annual order target of USD 15.9 billion.