Hyundai Heavy Industries Company News

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$2.3B FPSO Order Goes to Keppel
Tuesday, May 11, 2021Keppel O&M is carrying out the project at multiple locations.

Qatar Petroleum Signs Landmark LNG Deals
Tuesday, June 02, 2020Saad 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

Saudi Rig Revamp Wraps Up
Thursday, March 26, 2020IMI reported that it has completed maintenance, repair and overhaul work for an ARO Drilling jack-up rig.

Offshore Myanmar Platform FEED Goes to Doris, Hyundai
Wednesday, October 16, 2019Pictured is the Shwe Platform. PHOTO SOURCE: DORIS Engineering

Canada LNG Project Developers Trim List of FEED Contenders
Tuesday, January 30, 2018Four EPC bidders advance to next round for Vancouver Island project.

Hyundai Heavy Plunges by Record on $1.2 Billion Sale Plan
Wednesday, December 27, 2017Hyundai Heavy Industries fell by a record following its plan to raise about $1.2 billion.

World's Top Two Shipyards Signal More Orders as Earnings Improve
Thursday, April 27, 2017The world's two biggest shipbuilders reported profit and issued an improved outlook.

Billionaire Fredriksen Buys Rig, Ends Hyundai Dispute
Monday, March 13, 2017Billionaire investor John Fredriksen agrees to buy an oil drilling vessel from South Korean shipyard Hyundai Samho Heavy Industries.

After 20,000 Job Cuts, World's Top Shipyards Brace for More
Wednesday, October 26, 2016South Korea's shipbuilding industry - home to the world's top three manufacturers - has eliminated more than 20,000 jobs this year.

South Korean Yards Restructure, Trim Workforce
Thursday, September 08, 2016While 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.

South Korea's HHI Union Launches Partial Strike After Wage Talks Broke Down
Wednesday, July 20, 2016Hyundai Heavy Industries union members launch a partial strike after wage negotiations broke down with the South Korean shipyard.

HHI Delivers Ocean Greatwhite Semisub to Diamond Offshore
Monday, July 18, 2016South Korea's Hyundai Heavy Industries (HHI) delivers seimsub to Ocean Greatwhite to Diamond Offshore.

World's Top Three Shipyards Seek To Raise $7.3B In Revamp
Wednesday, June 08, 2016The 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.

Hyundai Heavy Said To Get Bank's Approval To Raise $2.2B
Wednesday, June 01, 2016Hyundai 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.

McDermott Joins 14 Other Offshore Firms to Establish Industry Standards
Thursday, May 19, 2016McDermott joins 14 other offshore companies to establish engineering industry standards.

HHI Reforms Company Structure, Includes Voluntary Retirement of Managers
Tuesday, May 10, 2016Hyundai Heavy Industries to reform management structure, including the voluntary retirement of manager-level staff.

HHI Posts $283M in Operating Income in 1Q 2016, Ends 9 Quarters of Losses
Tuesday, April 26, 2016Hyundai Heavy Industries' operating income rose to $283 million in the first quarter of 2016, ending 9 consecutive quarters of losses.

Norway's PM Urges HHI to Continue Cooperation with Norwegian Partners
Monday, April 18, 2016Norway's Prime Minister Erna Solberg urges South Korea's shipyard Hyundai Heavy Industries to continue cooperation with partners in her country for mutual growth.

ABS Approves HHI's FLNG Hull Design
Tuesday, April 12, 2016ABS grants approval in principal to Hyundai Heavy Industries for the latter's floating liquefied natural gas hull design.

FOE Stands Firm on Cancellation of Newbuild Semisub Contract with HHI
Thursday, February 04, 2016Fred Olsen Energy stands firm on the cancellation of a construction contract with Hyundai Heavy Industries for a newbuild semisub.

HHI to Work with DHIC, CCEI on Localization of Offshore Plant Equipment
Thursday, February 04, 2016South 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.

Saudi, Foreign Firms Sign MoU for New Shipbuilding Complex
Tuesday, January 26, 2016National 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.

Lamprell and Partners Consider Building Saudi Maritime Engineering Facility
Tuesday, January 26, 2016Offshore engineer Lamprell is working with partners, including Saudi Aramco, to potentially build a 'Maritime Complex' in Saudi Arabia.

South Korea's HHI to Halt Ops at Onsan Shipyard Due to Industry Downturn
Monday, January 25, 2016South Korea's Hyundai Heavy Industries to halt operations at its Onsan yard amid the downturn in the global oil and gas industry.

Blame It on Oil: 2016 Unhappy New Year for Asian Shipyards
Monday, January 04, 2016With 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.

Bruised Asian Shipyards Prepare for Eventual Market Upswing
Tuesday, December 22, 2015Battered Asian shipyards suffering from the most severe downturn in the offshore segment in recent years take steps to improve their future prospects.

HHI, Saudi Aramco to Collaborate on Business Opportunities in Saudi Arabia
Friday, November 13, 2015Hyundai Heavy Industries and Saudi Aramco sign a memorandum of understanding to collaborate on business development opportunities in Saudi Arabia.

Fred Olsen Energy's Unit Terminates Contract with HHI for Newbuild Semisub
Wednesday, October 28, 2015Fred Olsen Energy’s subsidiary Bollsta Dolphin terminates a construction contract for a newbuild semisub with Hyundai Heavy Industries.

HHI, SHI & DSME Working to Standardize Offshore Design
Wednesday, October 14, 2015South 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.

Seadrill Cancels HHI's West Mira Construction Contract Over Delivery Delay
Wednesday, September 16, 2015Seadrill terminates construction contract with Hyundai Heavy Industries for the West Mira semisub, citing delivery delay for the decision.

World's Top 3 Shipbuilders Post Record Loss on Deep-Sea Failures
Wednesday, July 29, 2015The 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.

Deep-Sea Plan Fails, Leaving Korean Shipyards Struggling
Monday, July 27, 2015The deep-ocean strategy is coming back to bite South Korean shipyards.

DNV Launches JIP with South Korean Yards to Reduce Project Cost by 15%
Thursday, July 23, 2015DNV GL launches joint industry project with South Korean yards to reduce project cost by 15 percent.

Neptune Completes Grouting Project at Cakrawala Field Off Malaysia
Tuesday, June 23, 2015Australia'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.

MMHE Clinches $86.3M Contracts for 4 Projects in Malaysia
Tuesday, June 16, 2015Malaysia Marine and Heavy Engineering clinches $86.3 million contracts for four projects in Malaysia.

Hyundai-10000 Floating Crane Completes Ops at Congo's Moho Nord Field
Thursday, June 11, 2015Hyundai Heavy Industries reports that Hyundai-10000, the world's largest floating crane, completes its first assignment at Moho Nord field offshore Congo.

HHI Delivers Ocean BlackLion Drillship to Diamond Offshore
Wednesday, May 27, 2015Hyundai Heavy Industries delivers Ocean BlackLion drillship to Ocean Offshore.

HHI's HLV HD-10000 Joins Fleet, Cost Savings of $22M a Year Seen
Friday, February 27, 2015Hyundai 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.

Eni's Goliat FPSO Leaves HHI's Ulsan Yard in South Korea for the North Sea
Monday, February 16, 2015Eni's Goliat FPSO, the world's cylindrical floating production storage and offloading facility, leaves South Korea's Ulsan yard for the North Sea.

South Korea's HHI Progresses Move to Localize Offshore Facilities Equipment
Thursday, January 22, 2015South Korea's Hyundai Heavy Industries completes the first phase of a plan for localizing offshore facilities equipment.

ABS Grants Approval-in-Principle for HHI's Next-Generation Drillship Design
Wednesday, January 21, 2015ABS grants approval-in-principle for Hyundai Heavy Industries' next-generation HD12000 heavy duty, wide beam drillship design.

HHI Inks $1.94B EPCIC Deal with ADMA-OPCO for UAE's Nasr Field Project
Wednesday, November 12, 2014Hyundai Heavy Industries inks a $1.94 billion contract with Abu Dhabi Marine Operating Company for the Nasr field development project in UAE.

Hoegh LNG Exercises Option for HHI to Build FSRU in South Korea
Friday, November 07, 2014Hoegh 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.

Douglas-Westwood: 'Offshore EPC - All Change'
Monday, October 20, 2014DW Monday briefly discusses the realignment in Asia's offshore engineering, procurement and construction landscape.

HHI Receives $1.94B LOA from ADMA-OPCO for the Nasr Development
Friday, July 11, 2014Hyundai 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.

HHI Develops Welding Robot for Constructing Offshore Facilities
Friday, July 11, 2014Hyundai Heavy Industries develops a new automatic welding process for building offshore facilities.

HHI Bags EPCIC Contract from Hess for North Malay Basin Project
Tuesday, July 01, 2014Hyundai 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.

Eni Awards $1.1B Jangkrik FPU EPCI Deal to Chiyoda-Saipem-Tripatra-HHI JV
Tuesday, February 25, 2014Eni 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.

Bardex Wins Contract from HHI for Moho Nord TLP
Monday, September 09, 2013Bardex 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.

Newbuild Bolette Dolphin Drillship Unveils in South Korea
Thursday, June 20, 2013Dolphin Drilling attends ceremony in South Korea unveiling the newbuild Bolette Dolphin drillship.