HHIC to build 10 ships

Despite current global economic slowdown, Hanjin Heavy Industries & Construction (HHIC)-Phil’s Subic Shipyard won a bid to build mid-size container ships for the first time this year.

The shipbuilder recently announced that it has signed a USD 450 million contract to build ten 5000TEU container ships (options included) with ship owners in Europe.

Due to unfavorable shipping and shipbuilding market conditions caused by global economic recession, HHIC hasn’t been able to win a decent bid since early last year. Based on recently dramatic improvement in cost competitiveness, however, HHIC-Phil’s Subic Shipyard has finally been able to win this bid.

These days, large vessels have been the mainstream in container ship market. In fact, there has been almost no demand for mid-size container ships. Due to high expectation on recovery of global economy and excessive bidding for very large container ships, mid-size container ships have become more popular.

The industry report says that HHIC-Phil’s Subic Shipyard’s hard efforts to build cost competitiveness with state-of-the-art facilities and abundant labor finally pay off.

The container ship HHIC-Phil’s Subic Shipyard has signed is 255m in length, 37m in width and 22m in depth and can make up to 21.5 knots. It is the state-of-the-art, environment-friendly ship which has adopted eco design technology.

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