Korea’s 3 Major Shipbuilders on Track for Meeting Annual Order Goals

Korea’s three major shipbuilders are likely to attain their new order targets for this year. Currently, they have achieved 60% to 70% of their annual goals. They believe they will have no problems in meeting their goals as new orders tend to be concentrated in the second half and at the end of the year.
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Korean shipbuilders are starting to get orders for big ticket ships like liquefied natural gas tankers. Hyundai Heavy Industries (HHI) inked a $210 million order from Norwegian shipper Knutsen NYK Offshore Tankers (KNOT) to build two shuttle tankers for delivery after June 2020, the company said Monday. Shuttle tankers transport oil from offshore oil fields.
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Hyundai Merchant Marine Co. said Friday it has placed 3.15 trillion won (US$2.84 billion) worth of container ship orders with the country’s three major shipbuilders to expand its fleet. Hyundai Merchant has signed three separate deals with Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. (DSME) to build
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thyssenkrupp has been awarded a Rs 410 Crore contract with Mazagon Docks Shipbuilders Limited (MDL) to refit the Indian Navy’s Shishumar-class non-nuclear submarine, INS Shishumar. The Medium Refit and Life Certification (MRLC) contract for the submarine will commence in October this year and is expected to be completed by 2021. The upgrade will extend the
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Garden Reach Shipbuilders & Engineers Ltd proposes to open, on September 24, 2018, an initial public offering (IPO) of equity shares of face value of Rs 10 each for cash at a price per equity share (including a share premium) comprising an offer for sale of 29,210,760 equity shares by the promoter, The President of
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Korean shipbuilders posted operating losses in the second quarter amid a slow recovery in demand for ships and a rise in material prices. Hyundai Heavy Industries on Monday posted 175.7 billion won ($154.8 million) in operating losses during the second quarter. It is the third consecutive quarter that the shipbuilder has posted an operating loss.
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Hyundai Merchant Marine (HMM) has selected shipbuilders to build eco-friendly mega containerships which fulfil its ‘Capacity of 1 Million TEU’ strategy. Since HMM sent out a Request for Proposal (RFP) to shipbuilding companies on April 10, it has considered all the conditions for newbuilding, including delivery date and price of new ships suggested by shipbuilders,
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• Orders to be placed for twelve 23,000 TEU & eight 14,000 TEU mega Containerships • Accelerate HMM’s ‘Capacity of 1 Million TEU’ strategy • Seven 23,000 TEU at DSME • Five 23,000 TEU at Samsung Heavy Industries • Eight 14,000 TEU at Hyundai Heavy Industries SEOUL: HMM has selected shipbuilders to build eco-friendly mega
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