Hyundai Heavy Industries Company News

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$2.3B FPSO Order Goes to Keppel
Keppel O&M is carrying out the project at multiple locations.
8:00 PM EST | May 10, 2021
Qatar Petroleum Signs Landmark LNG Deals
Saad Sherida Al-Kaabi, Qatar's minister of state for energy affairs and QP's president and CEO, has signed three LNG ship construction agreements. SOURCE: Qatar Petroleum
8:00 PM EST | June 01, 2020
Saudi Rig Revamp Wraps Up
IMI reported that it has completed maintenance, repair and overhaul work for an ARO Drilling jack-up rig.
8:00 PM EST | March 25, 2020
Offshore Myanmar Platform FEED Goes to Doris, Hyundai
Pictured is the Shwe Platform. PHOTO SOURCE: DORIS Engineering
8:00 PM EST | October 15, 2019
Canada LNG Project Developers Trim List of FEED Contenders
Four EPC bidders advance to next round for Vancouver Island project.
7:00 PM EST | January 29, 2018
Hyundai Heavy Plunges by Record on $1.2 Billion Sale Plan
Hyundai Heavy Industries fell by a record following its plan to raise about $1.2 billion.
7:00 PM EST | December 26, 2017
World's Top Two Shipyards Signal More Orders as Earnings Improve
The world's two biggest shipbuilders reported profit and issued an improved outlook.
8:00 PM EST | April 26, 2017
Billionaire Fredriksen Buys Rig, Ends Hyundai Dispute
Billionaire investor John Fredriksen agrees to buy an oil drilling vessel from South Korean shipyard Hyundai Samho Heavy Industries.
8:00 PM EST | March 12, 2017
After 20,000 Job Cuts, World's Top Shipyards Brace for More
South Korea's shipbuilding industry - home to the world's top three manufacturers - has eliminated more than 20,000 jobs this year.
8:00 PM EST | October 25, 2016
South Korean Yards Restructure, Trim Workforce
While Southeast Asian offshore contractors struggle to cope with the effects of the industry downturn, their more established competitors in South Korea have to embark on more severe measures to stay afloat.
8:00 PM EST | September 07, 2016
South Korea's HHI Union Launches Partial Strike After Wage Talks Broke Down
Hyundai Heavy Industries union members launch a partial strike after wage negotiations broke down with the South Korean shipyard.
8:00 PM EST | July 19, 2016
HHI Delivers Ocean Greatwhite Semisub to Diamond Offshore
South Korea's Hyundai Heavy Industries (HHI) delivers seimsub to Ocean Greatwhite to Diamond Offshore.
8:00 PM EST | July 17, 2016
World's Top Three Shipyards Seek To Raise $7.3B In Revamp
The world's three biggest shipyards plan to raise a combined $7.3 billion selling assets and cutting jobs as they seek to pare debt as part of a restructuring following losses last year.
8:00 PM EST | June 07, 2016
Hyundai Heavy Said To Get Bank's Approval To Raise $2.2B
Hyundai Heavy Industries, the world's biggest shipbuilder, receives an initial approval from its creditor KEB Hana Bank to raise $2.2 billion selling assets, according to a person familiar with the plan.
8:00 PM EST | May 31, 2016
McDermott Joins 14 Other Offshore Firms to Establish Industry Standards
McDermott joins 14 other offshore companies to establish engineering industry standards.
8:00 PM EST | May 18, 2016
HHI Reforms Company Structure, Includes Voluntary Retirement of Managers
Hyundai Heavy Industries to reform management structure, including the voluntary retirement of manager-level staff.
8:00 PM EST | May 09, 2016
HHI Posts $283M in Operating Income in 1Q 2016, Ends 9 Quarters of Losses
Hyundai Heavy Industries' operating income rose to $283 million in the first quarter of 2016, ending 9 consecutive quarters of losses.
8:00 PM EST | April 25, 2016
Norway's PM Urges HHI to Continue Cooperation with Norwegian Partners
Norway's Prime Minister Erna Solberg urges South Korea's shipyard Hyundai Heavy Industries to continue cooperation with partners in her country for mutual growth.
8:00 PM EST | April 17, 2016
ABS Approves HHI's FLNG Hull Design
ABS grants approval in principal to Hyundai Heavy Industries for the latter's floating liquefied natural gas hull design.
8:00 PM EST | April 11, 2016
FOE Stands Firm on Cancellation of Newbuild Semisub Contract with HHI
Fred Olsen Energy stands firm on the cancellation of a construction contract with Hyundai Heavy Industries for a newbuild semisub.
7:00 PM EST | February 03, 2016
HHI to Work with DHIC, CCEI on Localization of Offshore Plant Equipment
South Korea's Hyundai Heavy Industries plans to collaborate with Doosan Heavy Industries & Construction and Center for Creative Economy & Innovation on the localization of main equipment for offshore plants.
7:00 PM EST | February 03, 2016
Saudi, Foreign Firms Sign MoU for New Shipbuilding Complex
National oil giant Saudi Aramco has signed a memorandum of understanding to establish a shipbuilding and repair complex in the kingdom, part of Saudi Arabia's efforts to diversify its economy beyond oil, the company says.
7:00 PM EST | January 25, 2016
Lamprell and Partners Consider Building Saudi Maritime Engineering Facility
Offshore engineer Lamprell is working with partners, including Saudi Aramco, to potentially build a 'Maritime Complex' in Saudi Arabia.
7:00 PM EST | January 25, 2016
South Korea's HHI to Halt Ops at Onsan Shipyard Due to Industry Downturn
South Korea's Hyundai Heavy Industries to halt operations at its Onsan yard amid the downturn in the global oil and gas industry.
7:00 PM EST | January 24, 2016
Blame It on Oil: 2016 Unhappy New Year for Asian Shipyards
With oil prices forecast to fall as low as $15 a barrel and China's growth slowing, orders for offshore projects and new vessels are hard to come by for the world's three biggest shipbuilders.
7:00 PM EST | January 03, 2016
Bruised Asian Shipyards Prepare for Eventual Market Upswing
Battered Asian shipyards suffering from the most severe downturn in the offshore segment in recent years take steps to improve their future prospects.
7:00 PM EST | December 21, 2015
HHI, Saudi Aramco to Collaborate on Business Opportunities in Saudi Arabia
Hyundai Heavy Industries and Saudi Aramco sign a memorandum of understanding to collaborate on business development opportunities in Saudi Arabia.
7:00 PM EST | November 12, 2015
Fred Olsen Energy's Unit Terminates Contract with HHI for Newbuild Semisub
Fred Olsen Energy’s subsidiary Bollsta Dolphin terminates a construction contract for a newbuild semisub with Hyundai Heavy Industries.
8:00 PM EST | October 27, 2015
HHI, SHI & DSME Working to Standardize Offshore Design
South Korea's Hyundai Heavy Industries together with Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering are working to standardize offshore design to lower cost and ease project delays.
8:00 PM EST | October 13, 2015
Seadrill Cancels HHI's West Mira Construction Contract Over Delivery Delay
Seadrill terminates construction contract with Hyundai Heavy Industries for the West Mira semisub, citing delivery delay for the decision.
8:00 PM EST | September 15, 2015
World's Top 3 Shipbuilders Post Record Loss on Deep-Sea Failures
The world's three biggest shipbuilders posted a combined $4.1B in operating losses in the second quarter, paying the price for a failed foray into deep-sea oil rigs.
8:00 PM EST | July 28, 2015
Deep-Sea Plan Fails, Leaving Korean Shipyards Struggling
The deep-ocean strategy is coming back to bite South Korean shipyards.
8:00 PM EST | July 26, 2015
DNV Launches JIP with South Korean Yards to Reduce Project Cost by 15%
DNV GL launches joint industry project with South Korean yards to reduce project cost by 15 percent.
8:00 PM EST | July 22, 2015
Neptune Completes Grouting Project at Cakrawala Field Off Malaysia
Australia's Neptune Marine Services completes a displacement pile grouting project for Hyundai Heavy Industries at the Cakrawala field in the Malaysia-Thailand Joint Development Area.
8:00 PM EST | June 22, 2015
MMHE Clinches $86.3M Contracts for 4 Projects in Malaysia
Malaysia Marine and Heavy Engineering clinches $86.3 million contracts for four projects in Malaysia.
8:00 PM EST | June 15, 2015
Hyundai-10000 Floating Crane Completes Ops at Congo's Moho Nord Field
Hyundai Heavy Industries reports that Hyundai-10000, the world's largest floating crane, completes its first assignment at Moho Nord field offshore Congo.
8:00 PM EST | June 10, 2015
HHI Delivers Ocean BlackLion Drillship to Diamond Offshore
Hyundai Heavy Industries delivers Ocean BlackLion drillship to Ocean Offshore.
8:00 PM EST | May 26, 2015
HHI's HLV HD-10000 Joins Fleet, Cost Savings of $22M a Year Seen
Hyundai Heavy Industries' heavy lift vessel Hyundai-10000 (HD-10000) will join its fleet in March, with the newbuild likely to provide cost savings of $21.9 million annually for the firm.
7:00 PM EST | February 26, 2015
Eni's Goliat FPSO Leaves HHI's Ulsan Yard in South Korea for the North Sea
Eni's Goliat FPSO, the world's cylindrical floating production storage and offloading facility, leaves South Korea's Ulsan yard for the North Sea.
7:00 PM EST | February 15, 2015
South Korea's HHI Progresses Move to Localize Offshore Facilities Equipment
South Korea's Hyundai Heavy Industries completes the first phase of a plan for localizing offshore facilities equipment.
7:00 PM EST | January 21, 2015
ABS Grants Approval-in-Principle for HHI's Next-Generation Drillship Design
ABS grants approval-in-principle for Hyundai Heavy Industries' next-generation HD12000 heavy duty, wide beam drillship design.
7:00 PM EST | January 20, 2015
HHI Inks $1.94B EPCIC Deal with ADMA-OPCO for UAE's Nasr Field Project
Hyundai Heavy Industries inks a $1.94 billion contract with Abu Dhabi Marine Operating Company for the Nasr field development project in UAE.
7:00 PM EST | November 11, 2014
Hoegh LNG Exercises Option for HHI to Build FSRU in South Korea
Hoegh LNG exercises option to build a floating storage and regasification unit at Hyundai Heavy Industries in South Korea for delivery in the first half of 2017.
7:00 PM EST | November 06, 2014
Douglas-Westwood: 'Offshore EPC - All Change'
DW Monday briefly discusses the realignment in Asia's offshore engineering, procurement and construction landscape.
8:00 PM EST | October 19, 2014
HHI Receives $1.94B LOA from ADMA-OPCO for the Nasr Development
Hyundai Heavy Industries receives a $1.94 billion letter of award from Abu Dhabi Marine Operating Company to build fixed platforms and lay subsea cables for the Nasr development offshore United Arab Emirates.
8:00 PM EST | July 10, 2014
HHI Develops Welding Robot for Constructing Offshore Facilities
Hyundai Heavy Industries develops a new automatic welding process for building offshore facilities.
8:00 PM EST | July 10, 2014
HHI Bags EPCIC Contract from Hess for North Malay Basin Project
Hyundai Heavy Industries bags an engineering, procurement, construction, transportation, installation, hook-up and commissioning contract from Hess for the North Malay Basin Project's Bergading Complex offshore peninsular Malaysia.
8:00 PM EST | June 30, 2014
Eni Awards $1.1B Jangkrik FPU EPCI Deal to Chiyoda-Saipem-Tripatra-HHI JV
Eni Muara Bakau awards the consortium comprising Chiyoda, Saipem, Tripatra and Hyundai Heavy Industries a $1.1 billion engineering, procurement, construction and installation contract for the Jangkrik project in Indonesia.
7:00 PM EST | February 24, 2014
Bardex Wins Contract from HHI for Moho Nord TLP
Bardex wins contract from Hyundai Heavy Industries to supply a blowout preventer cage and drilling riser skidding system for the tension leg platform at Moho Nord field off Congo.
8:00 PM EST | September 08, 2013
Newbuild Bolette Dolphin Drillship Unveils in South Korea
Dolphin Drilling attends ceremony in South Korea unveiling the newbuild Bolette Dolphin drillship.
8:00 PM EST | June 19, 2013