Hanjin inks massive orders

qinxingchen

Subic shipyard of Hanjin Heavy Industries of Korea has won a contract to build four 6,800TEU containerships from Greece’s Technomar. Apart from this, the shipyard which has usually built containerships, tankers and bulkers so far also achieved in entering gas carrier market, winning a contract for eight 38,000CBM LPG carriers from Exmar of Belgium. Recent orders amounted to a total of $600m (options included) of 12 vessels and these are to be constructed in Subic shipyard with delivery from 2015 in order. Especially the newbuilding boxship is reported to be the second generation of economical fuel-efficient vessels which save between 5% and 7% of fuel compared to those previously ordered in 2011. Also, newbuilding LPG carriers, to be fitted with propulsion systems able to run on LNG, LPG or heavy fuel oil, improves eco-friendliness. Furthermore, German shipowner NSC is said to be exercising options for further 9,000-teu boxships pair with Hanjin and the shipyard is in talks with another European owner for four 180,000-dwt bulkers. HHIC's Yeongdo shipyard, which recently ended long protracted conflicts with labor union, has signed a letter of intent to build offshore supply vessels with Europe-based owner and is now negotiating detailed terms. If the deal firms up, it would be the first order for Yeongdo yard over the last five years. Also, Hanjin's representative labor union turned in a petition to Korea Electric Power Corporation (KEPCO)-affiliated five utility companies, regarding their newbuilding project, which is to jointly place orders for nine 150,000 DWT bulkers. The union is aggressively seeking to resume new order sales at its Busan-based shipyard. Sources said that not only Hanjin's union which secures representative negotiatiating power but also HHIC branch of Korean Metal Workers' Union revealed their strong will to cooperate to achieve Hanjin's normalization. Published : March 6, 2013