Hanjin Heavy Industries Co. reportedly won $160 million in contracts from Germany to build four container vessels.
Danaos Corporation (NYSE: DAC) announced that it has entered into an agreement with Hanjin Heavy Industries & Construction Co. Ltd. to cancel three 6,500 TEU newbuilding containerships, initially expected to be delivered in the first half of 2012. The agreement has been reached with the consent of Yang Ming Line who was the charterer of these vessels. Danaos is building another six large containerships with Hanjin Heavy Industries and Construction Co. Ltd
STX Pan Ocean has ordered an LNG carrier from Korean shipbuilder Hanjin Heavy Industries and Construction. The vessel will be built at a cost of $215 million. Delivery is expected before 2010. STX Pan Ocean recently reported a 71 percent jump in full-year earnings to $279.8 million on a 20 percent increase in sales to $2.7 billion. Source: ChannelNewAsia
According to a report from the Korea Times, Hanjin Heavy Industries and Construction (HHIC) imposed a lockout at its main shipbuilding yard and factories Feb. 14, in reaction to a strike against a layoff plan by its union that started on Dec. 20. The company plans to make 190 employees redundant today as it previously announced. (Source: Korea Times)
According to a report from The Chosun Ilbo, the labor union of Hanjin Heavy Industries and Construction's shipbuilding unit agreed on June 27 to end a strike that has lasted for over six months. The company will not rehire laid-off workers, but will compensate them if they voluntarily retire. Both sides also agreed to drop the legal cases against each other. Source: The Chosun Ilbo
Virginia Beach, Va. - Huntington Ingalls Industries announced that its subsidiary, AMSEC, has signed an agreement with Hanjin Heavy Industries and Construction Philippines Inc., a subsidiary of HHIC Holdings Co. Ltd., to work together in providing maintenance, repair and logistics services to the U.S. Navy and other customers in the western Pacific region. The agreement with HHIC-PHIL allows AMSEC to benefit from Hanjin's state-of-the art shipyard at Subic Bay, Philippines
Korean shipbuilders occupied seven out of the top 10 positions in the world last month in terms of orders. Hyundai Heavy Industries was the world’s largest shipyard in terms of order backlog as of late June with 11.74 million compensated gross tons (CGT), British shipbuilding market researcher Clarkson reported. Samsung Heavy Industries came second with an order backlog of 8.27 million CGTs, followed by Daewoo Shipbuilding & Marine Engineering (DSME) with 7
Danaos Corporation has secured 18 year bareboat charters for each of two 6,500 TEU containerships. These vessels are part of the recently placed order with Hanjin Heavy Industries & Construction Co., Ltd. and are expected to be delivered to Danaos in 2009 and 2010. Danaos Corporation also announced today that it delivered the bulk carrier Achilleas to Shanghai Time Shipping Co. LTD according to schedule. The delivery of this drybulk vessel to their new owners brought proceeds of $25
Danaos Corporation secured 18 year bareboat charters for each of two 6,500 TEU containerships. These vessels are part of the recently placed order with Hanjin Heavy Industries & Construction Co., Ltd. and are expected to be delivered to Danaos in 2009 and 2010. Danaos Corporation also announced that it delivered the bulk carrier Achilleas to Shanghai Time Shipping Co. Ltd. according to schedule. The delivery of this drybulk vessel to their new owners brought proceeds of $25
Hanjin Heavy Industries & Construction's Philippine Shipyard wins contract to build mid-size container ships for European owners Despite the current global economic slowdown, Hanjin Heavy Industries & Construction (HHIC)-Phil's Subic Shipyard has won a bid to build mid-size container ships for the first time this year. The shipbuilder recently announced that it has signed a USD 450 million contract to build ten 5
EXMAR announced two keystone events in its Caribbean FLNG project. On November 5, Pacific Rubiales Energy Corp. (PRE) and Gazprom Marketing & Trade Ltd. (GM&T) announced the execution of a heads of agreement with respect to a five year sale and purchase agreement covering approximately
Wärtsilä say they are to supply their Wärtsilä X92 main engine for a series of four Post Panamax 9000 TEU container ships (with options for a fifth) to be built for the Ciner Group, based in Istanbul, Turkey. Each vessel will be powered by an 8-cylinder Wärtsilä
South Korea's defense procurement agency has signed a contract with Hyundai Heavy Industries to acquire a new next-generation landing ship LST-II, reports Yonhap New Agency. This vessel will be South Korea's second LST-II ship designed to land personnel, tanks and equipment simultaneously
Drewry’s weekly container insight report shows exits from the transatlantic and Asia-Black Sea trades demonstrate how Hanjin is prioritizing financial repair over global coverage. Drewry said cash-strapped Hanjin Shipping has recently announced to its customers that it will be leaving two
United Arab Shipping Company increases its fleet with the naming of its ninth containership newbuild from Samsung Heavy Industries shipyard The United Arab Shipping Company (UASC) has named it’s new 13,500 TEU containership Ain Snan at a ceremony in Hamburg
'RTM Cook', built at Hanjin Heavy Industries in Subic Bay, Philippines, first of eight new RTM bulkers to fly the Red Ensign. Rio Tinto Marine provides services to the Rio Tinto Group to ensure that maximum efficiency is achieved in all of their mine-to-market supply chains
The Port of Seattle Commission approves lease extension with Total Terminals International (TTI), a J/V subsidiary of Hanjin Shipping & Terminal Investment Limited (TIL). The ten-year lease extension will secure continued volume and revenue at Terminal 46 for the next 13 years, through 2025
Exmar NV (NYSE Euronext: EXM) is pleased to announce that together with Teekay LNG Partners L.P. (NYSE: TGP) they have successfully closed their 50/50 LPG joint-venture. The Exmar LPG BVBA joint-venture controls 15 owned Midsize Gas Carriers (MGC)
Diana Containerships Inc. has taken delivery of the m/v “Hanjin Malta”, a 1993-built Panamax container vessel of 4,024 TEU capacity. The Hanjin Malta is time chartered to Hanjin Shipping Co. Ltd., Seoul, for a period of minimum thirty-six and a half months to maximum thirty-eight
At the 151st Annual Meeting of the Members of ABS, and the subsequent meeting of the ABS Council, industry leaders were elected to serve on a number of bodies that contribute to the operation of the classification society as it fulfills its mission of promoting the security of life and property
The 3600 TEU container ship, built under the supervision of Navgathi Marine by Hyundai Sambo delivered to Pacific International Lines. Hanjin Argentina is the third of a series of four such vessels ordered by Pacific International Lines of Singapore from the S. Korea shipbuilders.
The first container vessel in the recently adjusted CEM/ANN service of Evergreen Lines and Hanjin Shipping Lines is expected to arrive in Zeebrugge on July 19. The container vessels of the CEM/ANN service will be handled at PSA’s Zeebrugge International Port Terminal.
The German navigation system integrator Raytheon Anschütz was selected by the German-based shipowner NSC to supply the latest generation of the IMO-certified Synapsis Integrated Navigation System (INS) to a series of 9,000 TEU Containership newbuildings.
GE Marine reports its LM500 aeroderivative gas turbine has been selected to power the Republic of Korea Navy’s PKX-B patrol boat program. The LM500 gas turbines will be manufactured in-country by Samsung Techwin at its Changwon, Korea, facility.
Manila's International Container Terminal Services Inc's (ICTSI), troubled venture in Portland, Oregon, faces more difficulties as its big customer, Hanjin Shipping, is pondering whether to leave the port for either Tacoma or Seattle, according to the 'China Logistics Portal'.