Hanjin Heavy's Yeongdo Dockyard Wins 4 Bulk Ship Order

SEOUL, KOREA- The Yeongdo (Busan) Dockyard of Hanjin Heavy Industries said on October 28 that it won a US$220-million order to build four dry-goods bulk carriers of 180,000 deadweight tons. This is the first time for the dockyard to clinch a deal from overseas since 2008. As the contract comes with an option to build four additional vessels, Hanjin Heavy expects to win follow-up orders. Earlier in July this year, the company had won an order to build four bituminous coal carriers from Hyundai Merchant Marine. If the shipbuilder can succeed in landing the four optional ship orders, its total order booking amount would be $600 million.

The management and employees of the Yeongdo Dockyard are excited that the order drought for five years would be finally ending and they will be able to normalize their operations. Currently about a half of 750 field workers at the dockyard are on unpaid leave.

A company official said, "This is owing to our company-wide cost-cutting effort as well as the global shipbuilding market showing signs of gradual recovery. We hope to normalize our operations and get back our reputation as the No. 1 shipbuilder in the world. The Subic Dockyard in the Philippine has also won an order for ten mid-sized container ships from a European ship owner." The company set its order booking target amount for its Yeongdo and Subic dockyards at $1.2 billion and $1.7 billion, respectively.

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