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Hyundai Samho bags two VLCCs
Monday, May 01, 2017, 08:49:49 Paul Yoon ckyoon7@paran.com
Hyundai Samho Heavy Industries (HSHI)’s management and labor join their hands to secure orders amid new order drought, facing the prolonged shipping slumps due to the global economic depression.

HSHI announced on last April 26 that the shipyard has lately won an order for two VLCCs from Singapore-based Sentek Marine.

HSHI’s management and its labor union’s local leader Yoo Yung-Chang attended the newbuilding signing ceremony at Singapore, joining their forces to secure the order.

The vessel measures 330m in length, 60m in breath and 29.6m in draft capable of carrying 300,000mt crude oil. The newbuilding order has an option for two more VLCCs for delivery of the ships through the first half of 2019 if the option taken.

The vessels are set to be built to the eco-friendly cutting-edge specification including high pressure selective catalytic reduction and SOx scrubber.

HSHI’s local labor union leader Yoo Yung-Chang said: “HSHI has earned a top-level competitive edge in shipbuilding quality and in delivery supported by the stabilized management-labor relation. All the members in HSHI’s labor union will strive best to work in unison to build top-quality ships.”

HSHI’ labor union has sent a letter of appreciation to the shipowner in combination with its management at the end of last year to assist in securing the order as the shipyard was faced with difficulties due to lack of orders. Also, of late, the labor union workers have agreed to use their annual and monthly leave early in May this year in a way that they can relieve order shortage and best cooperate in compliance with the government policy to fuel domestic demand and boost domestic consumption.

A HSHI official said: “We wish to attach a big significance to the joint efforts made between the management and labor union to overcome the ongoing shipbuilding crisis. We are looking to enhance our confidence, helped by the labor union in securing orders with the shipbuilding work-sites being far more stabilized now than ever.”

Meanwhile, HSHI has orders booked for a total of nine ships valued for $660 million as of today into this year.
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