April Busy Month for HHHIC-Phil

April was a very busy month for Hanjin Heavy Industries Corporation Philippines (HHHIC-Phil) during which 11 newbuilding orders were secured.

HHHIC-Phil’s Subic Shipyard has won a contract to build four Very Large Crude Carriers (300,000 DWT) for Navig8 and two VLCCs + two 11,000 TEU container ships for another European company.

The total contract amount reaches up to $800 million. The new ships will be delivered from the second half of 2016 to the second half of 2017.

All in all, the company’s Subic Shipyard last year secured $2.9 billion in newbuild contracts, enough advance orders for three years of production, until 2017.

HHIC’s second yard, the Yeongdo Shipyard also managed to win bids worth approx. $200 million to build three 180,000DWT bulk carriers for several European shippers. The bulker trio is scheduled for delivery in 2016.

The shipbuilder has set a goal of winning a total of $3 billion in newbuild orders for this year.