HHIC Subic set for VLGC breakthrough with Exmar order

Hanjin Heavy Industries & Construction (HHIC)’s Subic Bay yard in the Philippines is poised to break into the VLGC sector, with sources saying it will secure an order for a pair of gas carrier newbuildings from Exmar.

The deal would mark a breakthrough for parent Hanjin Heavy Industries, which is South Korea’s longest-established shipbuilder.

Shipbuilding players say Hyundai Heavy Industries, HHIC and China’s Jiangnan Shipyard were vying for Exmar’s newbuildings, with the owner eventually choosing HHIC on price.