Hanjin Philippines Inks 4 VLCC Deal

Hanjin Heavy Industries and Construction-Philippines (HHIC-Phil) President Gwang Suk Chung announced that HHIC-Phil was able to acquire an order for the production of four (4) Very Large Crude Oil Carriers (VLCCs).

These VLCCs are the biggest in the world with a capacity of 320,000 deadweight tonnage (DWT) and is the first deal inked for the year by HHIC-Phil, a Korean company located in Subic Bay Freeport Zone (SBFZ).

According to the company, the ships will be built inside Hanjin’s Redondo Peninsula Shipyard and is expected to be finished by the second half of 2018. With a measurement of 330 meters in length, 60 meters in width and 30.5 meters in breadth, these VLCCs will be equipped with an eco-design component.

“This contract carries positive outlook among workers and other stakeholders considering the stagnant status of the shipping industry. We look forward to a more productive cooperation among our partners in producing highly cost efficient and technologically advanced commercial ships that shape the future of the shipbuilding industry today and beyond,” HHIC-Phil President Gwang Suk Chung said.