Home » Customs & Trade » Hanjin bags eight new orders amounting to $450M

HANJIN Heavy Industries Corp-Philippines (HHIC-P) has secured orders for eight additional newbuildings worth $450 million, bringing to 11 the total number of orders for the year.

The four suezmax tankers and four capesize bulk carriers are set to be delivered by the latter part of 2011.

The three initial orders are for capesize bulk carriers.

The four 160,000-deadweight ton (dwt) suezmax tankers are for Tanker Pacific in Singapore; the two 180,000-dwt bulk carriers for Henghou in China; and the other two 180,000-dwt bulk carriers for Star Bulk Carrier Corp of Greece.

The bulk carriers measure 292 meters (m) long, 45m wide, 25m high, and have a speed of 15.5 knots.

On the other hand, the double-hull tankers are 274m in length, 48m in width, 23.5m in height and have a speed of 15.7 knots. They will be delivered from March 2012.

At the height of the global recession last year, HHIC-P turned over seven containerships to their owners amounting to $470 million. In the previous year, one container vessel worth $58 million was also delivered.

As of last month, HHIC-P increased its Subic Bay investment to $1.8 billion from $1.6 billion in 2009.

The Subic yard is equipped with high-technology shipbuilding facilities that include mega docks and goliath cranes to build different types of vessels as big as 12,800 TEU- containerships.

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