First Commercial Order for Hanjin Heavy in Six Years

South Korea’s oldest shipyard has been awarded a $261.4m contract to build four new boxships.

This is the first time in six years that Hanjin Heavy Industries & Construction has been requested for newbuilds as they’ve been working more so with the Seoul government on military orders since having bankruptcy issues as of late.

Just this year Korea Development Bank (KDB) which was a creditor to Hanjin Heavy inked a deal to sell its stake portion of 66.85%.