AsiaShipyards

Hanjin Heavy to cease commercial ship construction in Busan

South Korea’s oldest shipyard is to stop building commercial vessels, local shipbuilding news site Asiasis reports.

As a part of restructuring of Hanjin Heavy Industries & Construction, its Yeongdo in Busan shipyard, which dates back to 1937 will now focus on naval vessels instead.

The yard’s location in central Busan has also been recently linked to being sold and moved to a different district.

Hanjin Heavy has a huge shipyard in Subic Bay in the north of the Philippines which will continue to build merchant ships. Its Busan yard has long suffered size constraints in the supersize recent era of shipping. Large scale redundancies are expected to be announced in Busan soon.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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