HHI Captures $15 bln Export Tower Medal

Largest shipbuilder in the world continues to lead exports while diversifying its product lines

Hyundai Heavy Industries Co. clinched the $15 billion Export Tower Award at the Trade Day ceremony held on Nov. 30 at COEX in southern Seoul for delivering $15.68 billion worth of new ships built at its dockyards, which were mostly tankers and container ships.
The largest shipbuilder in Korea and the world has been diversifying its product lines lately to marine equipment, plants, engine machinery, electric and electronic systems and construction equipment, among others, to become a leading heavy equipment maker and shipbuilder, thus making a great contribution to the growth of the national economy.
In 1985, the shipbuilding division of the company overtook Mitsubishi Heavy of Japan in shipbuilding project orders and the delivery of new ships, the Diamond weekly in Japan said, and the company has been leading the world ever since as the largest top-class shipbuilder as the main business sector of Hyundai Heavy Industries.
As of Aug. 31, the shipyard built over 1,388 new ships ordered by 244 shipping companies in 46 countries and successfully delivered all of them and still has an order backlog for 344 new ships valued at $38 billion. The company is determined to lead the world shipbuilding industry continuously in terms of quality, technology and customer satisfaction.
In the engine and machinery sector, the company shares 35 percent of the world market for large engines as the top-ranked heavy engine maker, equipped with high-tech precision machinery, assembly installations and test-run facilities.
The company first produced its No. 1 large engine in 1979 and has since produced a 7,000-horsepower engine in 2008. It has begun to produce an 8,000-horsepower engine in September this year. The company also turns out parts for ships such as propellers, shafts and others needed for power to move ships and supplies them to other shipbuilders, playing a key role in upgrading the competitive strength of the shipbuilders in Korea.
The shipbuilder has also received large orders for PPS; movable power generators, which are in great demand in such regions as the Middle East, Central and South America and Asia; power generation engines; large industrial pumps; and robot systems, whose demand is growing continuously as a futuristic growth engine and therefore a strategic item.
The Ministry of Knowledge Economy gave nine of the company’s products the designation of world-class first-rate products, including PPS, robot, industrial pumps and others, boosting its reputation as a top global integrated machinery maker.
The company has also been playing a major role in the offshore equipment sector with its unique technologies to build offshore equipment on land, which extends to oil tankers, LPG carriers and offshore equipment. The company installed a super large Gantry Crane to build FPSOs and tankers in an effort to boost its ability to build not only offshore equipment, but also tankers on land.
The company’s plant equipment sector has also been doing well not to fall behind other sectors of the company. It has been taking advantage of its experiences in the power generation, oil & gas and chemical areas over the past 20 years, supported by its high-degree engineering capacity, to lead the development of the heavy and chemical industries, while at the same winning recognition for its capabilities abroad.
The plant business sector has been taking on such major work as producing thermal and multiple thermal power and heat and power combined power plant equipment on turnkey bases, taking charge of all phases of the projects from design, purchasing, production, installation and test-run. The sector has been focusing on securing turnkey projects for nuclear power plants, producing key parts and supplying them. The sector has also been doing the same for oil refining and gas installations and petrochemical facilities to foster the sector as a major part of the company’s business The company’s electric and electronic sector has been producing and supplying high-tech products by importing advanced technologies in the area, in addition to manpower training to supply high-tech products to all industries in Korea.
Hyundai Heavy Industries has in fact become an integrated electric equipment supplier with its electric and electronics sector possessing all the technologies and systems from design, R&D and others to build a global network system. The company has been supplying both hardware and software for both electric and electronics equipment including power generation equipment, electric and electronic control equipment for use by ships, rail cars and electric vehicles as a total solution provider. nw

Officials of the Hyundai Heavy Industries are lined up for a photo session at the 46th Trade Day ceremony held at COEX in southern Seoul, Nov. 30, where the company won the $15 bln Export Tower Award. Included in the photo is Vice Chairman Min Kye-shik, 3L, and award winners from the company.