HHI Bags Order for 2 Crude Carriers

South Korea shipbuilding giant Hyundai Heavy Industries (HHI) group said that its unit Hyundai Samho Heavy Industries has won a deal to build two crude carriers.

The shipbuilding deal worth KRW 158.7 billion (about USD 132.8 million) was signed with an undisclosed company from Oceania on September 23, 2019, HSHI said in a stock exchange filing.

According to Yonhap, Hyundai Samho will build two 158,000-deadweight-ton (DWT) crude carriers by May 2021 for the unidentified Oceanian customer.

Hyundai Samho, under Hyundai Heavy Industries Group, posted sales of 1.6 trillion won in the first half of the year, down 35 percent from a year earlier, but its operating profit swung to black over the cited period.

Earlier this month, Hyundai Samho also received an order for the construction of an LNG carrier from the compatriot shipowner H-Line Shipping.  The commodities trading giant Trafigura ordered two very large gas carriers (VLGCs) at Hyundai Samho this month.