Before Completing Gunsan Shipyard Acquisition... J-Ocean Heavy Industries Secures Orders for Six Tankers

Signed Letter of Intent to Build Six Vessels, Including Crude Oil Tankers


Number of Vessels Scheduled for Construction This Year Rises to Ten


Secures Overseas Orders with Competitive Delivery Lead Time

Orders for shipbuilding are piling up even before the Gunsan Shipyard resumes operations. J-Ocean Heavy Industries, which is undergoing the acquisition process for the Gunsan Shipyard, has secured orders to build six tankers from a shipowner based in Oceania.

J-Ocean Heavy Industries announced on September 21 that it had signed a letter of intent with a shipowner in the Oceania region for the construction of two 157,000-ton crude oil tankers and four 114,000-ton crude oil and petrochemical product carriers.

This is an additional order following the letter of intent signed in June for four 114,000-ton crude oil and petrochemical product carriers. The number of vessels scheduled for construction secured this year has now increased to a total of ten.

In June, J-Ocean Heavy Industries signed an asset transfer agreement for Gunsan Shipyard with HD Hyundai Heavy Industries and is continuing with the subsequent acquisition steps. The company has secured these vessel orders even before the acquisition is finalized.

The company explained that the large shipbuilding capacity and quick delivery times of Gunsan Shipyard played a role in winning this order. As there is currently no outstanding backlog of completed vessel orders at the shipyard, ships can be delivered at the timing requested by the shipowner.

J-Ocean Heavy Industries proposed a competitive delivery schedule based on its production capability and process management. This matched the needs of shipping companies that wish to deploy vessels as early as possible.

The two vessel types to be built are next-generation models independently developed by HJ Shipbuilding & Construction. The 114,000-ton crude oil and petrochemical product carrier has been designed to comply with the environmental regulations of the International Maritime Organization. It can transport crude oil and petroleum products separately, thus improving operational efficiency and profitability according to market demand.

J-Ocean Heavy Industries also stated that since the memorandum of understanding for the asset transfer of Gunsan Shipyard was signed in March, shipowners' interest in the shipyard's infrastructure and competitiveness has been growing.

Chairman Cha Jeonghoon, who played a central role in the acquisition of Gunsan Shipyard, continues to provide support. The company plans to pursue additional orders after completing the acquisition process.

A J-Ocean Heavy Industries official said, "Thanks to the support from citizens of Gunsan and the Jeonbuk region, who have been waiting for the revival of Gunsan Shipyard, and our major shareholders, we have secured orders for ten vessels to be built just this year."

The official emphasized, "There is much to be done, including the issuance of refund guarantees, reorganization of the yard and facilities, and workforce expansion, but we will do everything possible to make Gunsan Shipyard a catalyst for revitalizing the regional economy."

114,000-ton crude oil tanker.

This content was produced with the assistance of AI translation services.