HANJIN HEAVY INDUSTRIES

- Expected to win more orders; a good sign of sufficient shipbuilding contracts; anticipated to fill the dockyard until 2024 

( Same-class container vessels )

HJ Shipbuilding & Construction (HJSC, former HHIC) started to win orders with the signing of a USD 150 million contract to build two 5500 TEU container vessels with a client in Europe. Since negotiations are currently in progress with several shipping companies, it is anticipated to win more orders soon. 

The 5500 TEU container ship has near-identical specifications with the vessel (255 meter-long, 37-meter wide) signed with the same client in October last year. This state-of-the-art, eco-friendly container ship is designed to reduce greenhouse gas (GHG) emissions with the latest hull form and high fuel efficiency. 

Last year, the multinational shipbuilder announced to reenter the merchant ship market after completing the M&A process and signed a contract to build 4 5500 TEU container vessels, proving its excellence in container vessels. 

With this successful order, HJSC is now contracted to build 6 vessels in total. In particular, the contract includes an option (giving the client a right to order two more vessels, same class). Therefore, the South Korean shipbuilding company is anticipated to build up to 8 container ships and enhance both productivity and profitability through repeated shipbuilding. ‘Repeated shipbuilding’ refers to the fruits anticipated to reap by building the same vessels. According to the industry report, the repeated shipbuilding can maximize shipbuilding efficiency by shortening design time, enhancing workers’ proficiency and optimizing manufacturing processes. 

An official from HJSC said, “In satisfaction with our suggestions (e.g., deadline, specifications, quality, etc.), the client ordered the same vessels additionally in just five months, proving our excellence in container ships.” He continued, “All our employees are committed to respond to such client trust with the highest quality and strict observance of the deadline.”

Meanwhile, HJSC aims to build the container ships at its Yeongdo Shipyard and hand over in sequence, starting from the first half of 2024.