Tanker Rates Skyrocket To Fill Colonial Pipeline Shortages
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South Korean shipbuilder Hyundai Heavy Industries says it has manufactured its 5,000th ship propeller at its Ulsan factory.
The milestone propeller measures 10.6 meters in diameter and weather 77 tons. At the end of this month it will be installed on a 300,000 DWT Very Large Crude Carrier ordered from Athens-based Thenamaris.
Hyundai Heavy Industries is the only Korean propeller manufacturer capable of producing large-sized propellers heavier than 40 tons, and as of 2015 it held the largest chunk of the global ship propeller market with a market share of 31%.
The shipbuilder began producing propellers in 1985 and since 2000 it has been producing 200 plus propellers annually on average. In 2001, HHI won the Guinness World Record for the heaviest propeller at the time with a 102 ton propeller. Two years later, it became the first in the world to use the ‘Furan method’, helping it produce propellers faster and more efficiently.
“With the goal of developing 25% lighter propellers by 2018, we are currently developing new type of propellers made of composite material,” said HHI in a press release. “We will continue to make efforts to keep our standing in the global market with tireless technology development and quality improvement.”
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