Hyundai Heavy Industries (HHI) Co. President Lee Jae-sung (6th from left) and his executives

as President & CEO Steve Bolze of GE Power & Water (7th from left) and his delegates pose for a 

photograph after their meeting at HHI on Oct. 15.(photos: HHI)

Global company CEOs have made a series of visits to Hyundai Heavy Industries (HHI) and discussed ways of promoting cooperation in business areas of mutual concern with HHI leaders. 

A delegation, headed by President & CEO Steve Bolze of GE Power & Water, met with HHI President & CEO Lee Jae-sung; Chun In-soo, head of the Plant Business Division; Kim Jung-hwan, chief of the Engine & Machinery Business Division; and Han Sang-ik, head of the Management Business Support Division and discussed ways of promoting cooperation in areas of mutual concerns on Oct. 15.

The two companies discussed ways of collaborating through GE’s strengths, the gas and steam turbine areas, as well as HHI’s strong points, namely the plant and EPC sectors, as well as pushing for the implementation of new business areas. 

A delegation, led by President Philippe Cochet of Alstom Thermal Power, visited HHI on Oct. 14 and discussed ways of promoting collaboration in the power generation field, including steel boilers, with HHI leaders. The visitors expressed a keen interest in HHI’s packaged power station (PPS) and proposed the exploration of the European PPS market. 

The GE and Alstom delegations came to Korea to participate in the 22nd World Energy Congress Daegu 2013 that took place from Oct. 3-7 and talked over areas of mutual collaboration.

This past March, GE Vice Chairman John Rice, Visal Leng of GE Oil & Gas Asia-Pacific, and President Kang Sung-ok of GE Korea visited HHI and discussed ways of promoting business collaboration with HHI leaders. 

Previously, HHI had teamed up with GE and won a $2.6 billion combined cycle power project from Kuwait in 2009. HHI has maintained close ties with Alstom, as the latter is the supplier of steam turbines and desulfurization facilities to a 2.64 MW-class super power plant project in Saudi Arabia that HHI is undertaking.

HHI Wins $850 Million Order for Moss-type LNG Carriers

A view of the HHI Pavilion at the exhibition of the 

World Energy Congress Daegu 2013.(photo:NewsWorld)

Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder, won a $850 million order to build four 150,000m3 Moss-type LNG carriers from Malaysian oil company Petroleum Nasional Bhd (Petronas).

The contract also includes an option exercisable by the owner to order four additional LNG carriers of the same class. The double-hulled LNG carriers are scheduled to be delivered to the owner starting in the second half of 2016.

The tankers for carrying liquefied natural gas will be constructed with four independent self-supporting spherical tanks that have more reliable performance when loading and unloading cargo, and have greater resistance to sloshing forces compared to a membrane tank system. These features play a crucial role in Moss-type LNG carriers being the preferred choice for offshore storage work where harsh sea conditions are a significant factor.