HSHI’s Vessels Named “World-Class Products” by Korean Government
Hyundai Samho Heavy Industries (HSHI) announced that its LNG carriers and VLCCs have been formally recognized as “World-Class Products” for this year by the Ministry of Trade, Industry and Energy of Korea on December 16, 2015. The Ministry annually gives the World-Class Products certification to those products that represent at least 5% global market share, rank in top five in their respective market, and have an international market worth over USD 50 million with exports of USD 5 million annually.
HSHI posted the largest share of 54% last year in the global VLCC market and the fifth largest share of 11% in the global LNG carrier market.
The new World Class certification awarded to the two types of vessels this year brings the total number of World Class Products held by HSHI to 7, which includes 8,000-plus TEU containerships, 80,000-plus DWT crude oil carriers (2007), mega-size and medium-size containerships and car carriers (2014).