HANJIN HEAVY INDUSTRIES

- More good news in February following signing of a contract to build two 180,000 DWT bulk carriers in January
- A clear indication of Hanjin Subic Shipyard’s global competitiveness 
 
On February 22, HHIC-Phil(Hanjin Heavy Industries & Construction – Philippines) announced that it signed a contract to build one 180,000 DWT bulk carrier for Bocimar, a world renowned Belgian shipping company.

The state-of-the-art carrier (292m in length, 45m in width, 25m in height, and speed of 15.5 knots) will be built at HHIC-Phil’s Subic Shipyard and delivered in the second half of 2011.

Despite extreme economic recession in the shipbuilding market, HHIC-Phil has proven once again that it is capable of competing globally to win orders for large bulk carriers by signing a contract to build one capesize bulk carrier this month after winning an order to build two 180,000 DWT bulk carriers in January.

HHIC-Phil’s Subic Shipyard boasts excellent geographical location, large space (2.7M㎡, 10 times the size of Yeongdo Shipyard), advanced facilities and sufficient labor at low costs (about one-tenth of Korean labor costs). In addition, one of the world’s largest dock(Dock 6) has been in full operation in Subic Shipyard since last year.

An official from HHIC-Phil said that Subic Shipyard, together with Yeongdo Shipyard, which is undergoing a modernization program for building high-value added vessels and HHIC’s R&D Center in Busan, will play a pivotal role in establishing Hanjin Heavy Industries & Construction as the world’s most efficient shipyard.

HHIC-Phil’s Subic Shipyard is equipped with state-of-the-art facilities including a 370m long Dock 5 and 550m long Dock 6, 4km long quay, four ultra large gantry cranes and 1km long automated assembly lines. The company has an order backlog that is worth 2.5 years of work.

■ Attachment: A full view of HHIC-Phil’s Subic Shipyard