Hyundai Heavy Industries to Build 10 LNG-Ready VLOCs

| South Korea, Ulsan

HHI and Polaris contract 10 VLOCs Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, signed a $800 million contract to build ten LNG-ready 325,000 dwt VLOCs (Very Large Ore Carrier) with Polaris Shipping, the Seoul-based domestic dry bulk owner and operator, on September 25. The contract is the largest single order received by the company in the last five years.

The signing ceremony held at HHI’s Seoul office, was attended by Ka Sam-hyun, COO of HHI Group Ship Sales Division; Chung Ki-sun, Executive Vice President of Corporate Planning Office of HHI; and Kim Wan-jung, CEO of Polaris Shipping.

The ships, measuring 340m in length, 62m in width and 29.8m in height, will be designed as eco-friendly ships applying Liquefied Natural Gas (LNG) Ready design to meet environmental regulations and reduce fuel consumption. The vessels are scheduled to be delivered by 2021.

Image: At the signing ceremony, Chung Ki-sun, Executive Vice President of Corporate Planning Office of HHI is shaking hands with Kim Wan-jung, CEO of Polaris Shipping.


Source: Hyundai Heavy Industries

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