HANJIN HEAVY INDUSTRIES

- The normalization of management pledged through the first event since the signing of the autonomous agreement

HHIC announced that it held a naming ceremony for one 180,000 DWT bulk carrier at Yeongdo Shipyard in the morning, May 18.

This ceremony was held with the attendance of about 100 people including the officials from Poseidon Shipping in Greece, Lee Jin-tae (president of Lloyd's Register, Asia) and Ahn Jin-gyu (president of HHIC)

The capsize bulk carrier of 180,000 DWT that HHIC signed with Poseidon Shipping in Greece in 2014 was named ‘APOLLONIUS.’ In hull form-optimized, eco-design responding to recent environment-friendly shipbuilding trends, it is built into a highly efficient vessel with great fuel efficiency. 

This naming ceremony was particularly significant in that it was the first official event HHIC had after signing an autonomous agreement for the normalization of management with creditors.

Since years ago, HHIC has taken preemptive actions to be prepared against economic slowdown. At a temporary liquidity crisis in the beginning of this year, the company applied for an autonomous agreement and finally signed an MOU with creditors on May 10.

An official from HHIC said, “We have devoted all our energy and efforts to the normalization of management since the singing of the MOU. Since this naming ceremony is the first official event since then, it feels something to us.” He added, “We are going to keep working hard to establish a solid ground for a strong rebound by improving competitiveness with our partners.”

HHIC already unveiled its plan to grow into the world’s leading shipbuilding company with a two-track strategy which means that Subic Shipyard specializes in the production of very large vessels while Yeongdo Dockyard focuses on high-tech, special-purpose vessels”.

■ Attachment: Picture of the naming ceremony