- HSHI builds 500 large commercial ships in the shortest time in the world
-A mega-size LNG carrier ordered by Norway’s Golar LNG marks its 500th vessel

Hyundai Samho Heavy Industries (HSHI) the record for the shortest period of time to deliver 500 large commercial ships.

HSHI reported on January 8, 2015 that it has successfully constructed 500 ships on its yard, with the latest one being a 162,000 m³LNG carrier ordered from Norway’s Golar LNG.

The 500th ship, measuring 289 m long, 46 m wide and 26 m deep, embarked on its maiden voyage to Singapore on April 8, 2015. It took HSHI approximately 20 years to deliver 500 ships.

HSHI entered into its first shipbuilding contract with Germany’s Detjen in 1995 for construction of containerships. In 2011, it recorded its highest number of deliveries of 49 ships.

By ship type, the 500-ship fleet consists of 171 containerships, 171 oil tankers, 108 bulkers, 11 LNG/LPG carriers, 24 car carriers and 15 others. By country, maritime powerhouse Greece accounted for 135 ships and Germany 72 ships. By company, Delta Tankers and Nord Capital have ordered 23 and 20 ships, respectively.

HSHI started construction of large commercial vessels as a latecomer in the industry in 1992. It had challenging years at the beginning in the wake of the Asian financial crisis, but has successfully emerged into the world’s fourth largest shipyard, producing 40 to 50 ships a year in two drydocks and also on-ground.

Moreover, a total of five ships of HSHI had been named World Class Products by the Korean government, in 2007 (1 mega-size containership, 1 VLCC) and 2014 (1 car carrier, 1 VLOC, 1 medium-sized containership). Of note, HSHI’s car carrier and VLOC boasted the largest global market share.

Also, HSHI’s sales grew 13-fold from 350 billion Korean won in 1996 to an estimated 4.6 trillion Korean won this year.



■ Photo: HSHI’s 500th ship, an LNG carrier, embarked upon its maiden voyage on January 8, 2015.