Hyundai Heavy Industries to Construct New Shipbuilding Dock

South Korean major shipbuilder, Hyundai Heavy Industries revealed at the end of last week the firm constructs no.10 shipbuilding dock with the capacity of 1 million gross tonnes per year in Ulsan works. The construction is scheduled to complete in January 2009. The firm will build up continuous shipbuilding of Floating Production Storage and Offloading Unit (FPSO) as well as other new ships.The new dock can build 2 FPSOs at the same time. The firm aims to increase shipbuilding capacity and enhance shipbuilding system of added-value ships. After new dock starts the operation, steel shortage for shipbuilding would be driven up.Hyundai Heavy Industries is the world largest shipbuilder and has the top share of shipbuilding in South Korea with its shipbuilding system for a huge variety of shipa such as VLCC, LNG ship and container vessel in high quality. Its building capacity is estimated at around 6.4 million gross tonnes per year. The firm has over-4-year order backlogs of shipbuilding.Ulsan works has 9 docks, the main dock among which is no.3 dock where 3 VLCCs can be build at the same time. No.10 dock is expected to be same size to no.3 dock which is the biggest dock in South Korea.