Hanjin Yeongdo Dockyard advances
HHIC has launched an all-out Yeongdo Dockyard modernisation project
Hanjin Heavy Industries & Construction (HHIC) has finally settled restructuring negotiations through labour-management agreement and accelerated the normalisation of its operations.
No sooner had consensus been reached, which was postponed due to the opposition from the labour union, than Yeoungdo accelerated its realignment and upgrade to enhance its market competitiveness.
Modernisation and reorganisation of Yeoungdo has been continuous since 2009, for the purpose of developing into a dockyard strengthened in high-value added vessels and Special Purpose Vessels (SPVs).
HHIC has launched an all-out Yeongdo Dockyard modernisation project for a thorough inspection of the entire shipyard and advancement of related facilities. In addition, HHIC is reviewing the replacement of the less efficient cranes with new ones. Therefore, as the restructuring is finally over, HHIC is going to regain its position as Korea’s No.1 shipyard as soon as possible.
According to an industry report, HHIC is still the best in terms of the manufacture of mid-size containers and SPVs. The nation’s leading shipbuilder aims to win a lot of bids with relatively short delivery time compared to rival companies.
HHIC targets to enhance its competitiveness through construction of advanced, high-value added vessels and technology development and by taking advantage of global manufacturing systems including Busan Yeongdo Dockyard and HHIC-Phil’s Subic Shipyard.
Since its establishment as Korea's first steel shipbuilder in 1937, HHIC has played a pivotal role in building high-tech vessels (ex: Drilling rig, membrane LNG carrier, Landing Craft Air Cushion, cable ship, post-Panamax container vessel, DSV, ice breaker, etc.) and developing new markets.
In a belief that capability development to build advanced and high-value added vessels is essential to stay ahead in the fierce global competition and fight off the challenges from Chinese rivals, HHIC has concentrated on building them including Diving Support Vessel (DSV) and polar class ice breaker(Araon).
HHIC-Subic Shipyard plans to keep focusing on ultra large & vary large container carriers, tankers and bulk carriers for the time being. As technology and productivity levels are high enough, it may start to build more valuable vessels including Q-max LNG carrier, VLGC, offshore plant, drill ship and FPSO.
In addition, the R&D Center in Jungang-dong, Busan will focus on developing new design and new technology in shipbuilding and marine sectors and play a key role in shortening manufacturing lead time and enhancing competitiveness by applying the new technology and innovative engineering methods to the manufacturing process.
Aiming to promote its mid and long-term vision which includes business diversification (offshore & environmental plant/energy, etc.), M&A and discovery of new growth engine, HHIC is about to make great strides into ‘the world’s leading shipbuilder’ by focusing on advanced, high-value added vessels through establishment of stable global manufacturing systems.
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