Hyundai Heavy (HHI) South Korea to build 'super vessel'

 

Netherlands-based Dockwise has selected South Korea’s Hyundai Heavy Industries (HHI) to build its new $240 million semi-submersible monohull vessel.

The Type-0 super vessel will have an overall deck size of 275 x 70 metres and have a carrying capacity of more than 110,000 tons which Dockwise said would make it the first of its kind in service in the maritime transport industry.

Dockwise chief executive Andre Goedee said the company had been encouraged by clients reactions since it announced the investment decision in November last year.

“It is our expectation, based on latest discussions with clients, that we will surpass our initial revenue assumptions for the first year of operations,” he said.

“Clients have grasped the game changing potential of the vessel and have made a valuable contribution to our thinking around the detailed design.”

Dockwise said further details on the specifications of the new super vessel were subject to further detailed design engineering as it continued consultations with its clients and HHI.

HHI is scheduled to deliver the vessel during the fourth quarter of next year, following sea trials, when it is intended to undertake its initial commercial voyage.

Dockwise will pay HHI 45% of the estimated $240 million cost of the vessel this year, with the remaining 55% to paid next year, and will be fully funded by the successful rights issue and revolver debt facility the company completed at the end of last year.