Hyundai Heavy Industries’ (HHI) new shipbuilding orders for the first half have fallen 15% from the same period last year to $4.1bn.   Across the group as a whole, new orders fell by 23% to $11.2bn from $14.6bn in the first half of 2013.   Six months into the year the Korean giant has secured 45.8% of its shipbuilding target for the year, with sales totalling $4.1bn. LPG carrier orders make up over a quarter of the total, representing 24 of 48 vessels ordered.   Amongst the ...

  Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder, announced today it launched South Korea’s fifth submarine, ROKS Yun Bong-gil, at its headquarters in Ulsan, South Korea. The launching ceremony of the Class 214 diesel-electric air independent propulsion (AIP) submarine was attended by Admiral Hwang Ki-chul, the chief of naval operations, Republic of Korea; Mr. Kim Oi-hyun, president and CEO of HHI; and 200 other guests. The Class 214 AIP submarine, measuring 65m in l...

Hyundai Mipo Dockyard (HMD) has won an order worth $185m to build six petrochemical product vessels from US-based Alterna Capital. The 25,000 dwt newbuildings are expected to be delivered by September 2016, parent firm Hyundai Heavy Industries (HHI) announced on Tuesday. The petrochemical product vessels will be incorporated with eco-designs including electronically-controlled, high efficiency engines and ballast water treatment systems. Source: http://www.seatrade-global.com/

The Ministry of Transport reportedly just set progress targets for the restructuring of Vinalines, a leading domestic shipbuilder. Vinalines members include the Saigon, Nghe Tinh, Cam Ranh, Can Tho and Nam Can ports, all to be equitised along with the parent company. Vinalines has proposed halting the restructuring of its main shipping businesses, including Vinalines Shipping, Vinalines Container Shipping and Vinalines Haiphong Maritime Services. These financially dependent firms...