Hyundai Heavy to Build World's Larget Semisub Heavy Transportation Vessel

Hyundai Heavy Industries (HHI) won an order to build a $240 million semi-submersible heavy transportation vessel (SSHTV) from Dockwise of Netherlands.

The vessel is specially designed to transport more than 110,000 tons of offshore oil and gas production facilities including FPSO (Floating, Production, Storage and Offloading) units. After completed, FPSO are usually transported by two or three tug boats from shipyards to operating sites, taking about months to mobilize on the sites. This super-heavy transportation vessel can halve the delivery time, helping move up the installation and commissioning time.

The vessel, measuring 275 m in length, 70 m in width, and 15.5m in depth with a carrying capacity of more than 110,000 tons, is scheduled to be handed over during the last quarter of 2012. Upon completion, the vessel will be the world's largest semi-submersible heavy transportation vessel.

The Company's flexibility in new building design, its track record of on-schedule delivery and budget discipline were the key deciding factors in the award of the contract.

Mr. Kang Chang-june, COO of the Offshore & Engineering Division, said, "As an EPIC (Engineering, Procurement, Installation and Commissioning) contractor for offshore projects, we agree strongly with Dockwise that there is a rapidly emerging need for a vessel of this capacity, given the scale growth of offshore projects. The benefits for our clients of dry transports of integrated structures and of large FPSOs are apparent to yards and offshore operators focused on the future evolution of our markets. As a top class offshore construction yard we are proud that Dockwise has chosen HHI for the construction and timely delivery of this vessel."


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