Hyundai Heavy Industries (HHI) Added Four New Orders to its Record

South Korean shipbuilder Hyundai Heavy Industries (HHI) seems to be on the road of recovery since it has been contracted for four new builds.

Namely, Arab Maritime Petroleum Transport Company (AMPTC) has placed an order at the shipbuilder for two 158,000 DWT Long Range 3 tankers priced at USD 70 million each, according to Vessels Value data.

The ships are to be built by Hyundai’s Ulsan yard and are scheduled for delivery in 2017 and 2018 respectively.

Separately, the shipbuilder has also received an order to build two liquefied natural gas (LNG) carriers worth USD 400 million. The company behind the order is said to be SK Shipping, a Korean ship-owner.

French specialist in LNG containment systems GTT confirmed yesterday that it had received an order for Mark III Flex membrane technology for two new LNGCs to be built by HHI’s Ulsan yard for SK Shipping.

Delivery of the two ships is scheduled for 2019. 

Last year, HHI announced that it had been chosen as the preferred bidder to build up to three LNG carriers for its compatriot gas and power company SK E&S.

HHI said that it expected to sign the construction agreement for the 180,000 cubic meter vessels during the first half of 2016, after final negotiations with SK E&S and the company’s subsidiary SK Shipping, which will operate the LNG carriers.

The LNG carrier will transport LNG cargo from the US Free port LNG liquefaction facility and export terminal.