EnergyWatch

World's biggest yard shuts down offshore division for now

The shortage of orders for the offshore sector has now become so pronounced at the world's biggest shipbuilder, Hyundai Heavy Industries, that management has decided to shut down its offshore division. For the time being.

Photo: /ritzau/AP/Kim Dong-min

Several years of low oil prices are now starting to really impact the last link in the supply chain, namely the shipbuilders who have made a good living from building platforms and rigs for the offshore sector.

The shortage of orders has become so severe at one of South Korea's three major shipyards, Hyundai Heavy Industries (HHI), that management has decided to suspend work on its offshore facilities in August, reports Korean news agency Yonhap.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Vestas confirms spread of stolen data

Data from the OEM's IT systems have been stolen and offered to a third party, informs Vestas, which has "reasons to believe" that the leaked data mainly pertains to internal company matters, says CEO.

Further reading

Related articles

Latest News

See all jobs