[Asia Economy Reporter Choi Dae-yeol] Hanjin Heavy Industries announced on the 5th that it has signed a contract to build four 5,500 TEU container ships for a European shipping company. The contract is worth $270 million (310.5 billion KRW) and the ships are scheduled to be completed by the end of November 2023.
This order is the first commercial ship contract for Hanjin Heavy Industries since its acquisition, marking the first in six years since 2015. After entering into a voluntary agreement with creditors in 2016, the company focused its orders on special vessels such as naval ships, government vessels, and exploration ships. The vessels ordered this time are eco-friendly container ships designed to reduce greenhouse gas emissions.
The company completed its merger and acquisition process last month. After securing an order for three hybrid national fisheries patrol vessels last month and now this commercial ship order, the company explained that it has reorganized its shipbuilding business and demonstrated competitiveness in the commercial ship sector.
Going forward, the company plans to focus its sales efforts on securing orders for small and medium-sized liquefied natural gas (LNG) and liquefied petroleum gas (LPG) carriers, petrochemical product carriers (PC ships), and Aframax-class crude oil tankers. The company stated, "We will aggressively expand our sales in the commercial ship market to lay the foundation for sustainable growth."
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