Hyundai Heavy clinches drillship and containership orders

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April 19, 2011

Hyundai Heavy Industries announced Monday it has won an order to build an ultra-deepwater drillship for Fred Olsen Energy. The contract also includes an option the Norwegian company can exercise to purchase a similar second drillship.

The drillship, measuring 229 meters long and with the water depth capacity up to 3,600 meters (12,000 feet), is due for delivery August 2013.  HHI has won the most drillship orders so far this year with a total of 6 orders, along with options for additional three drillships.

In addition to the drillship order, the Ulsan-based company clinched an order to build four 5,000 teu containerships for Container Carrier Corp.  This contract also includes an option exercisable by the Greece-based company to order four same class containerships. Including this order, Hyundai Heavy has won orders for 22 containerships this year.

So far in 2011, HHI has won 34 newbuild contracts worth a total of US $9.2 billion, 46% of 2011 target of US $19.8 billion.

Pictured: Signing Ceremony with Container Carrier Corp. (Mr. Kim Oi-hyun, senior executive vice president and CEO of Hyundai Heavy (fifth from left) and Mr. Gerry Ventouris, CEO of Container Carrier Corp.(seventh from left)

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