Hyundai Mipo shutters one of its four drydocks

Hyundai Mipo Dockyard has suspended operations at one of its four drydocks through to the end of the year as it fights a dwindling orderbook.

The news is another blow to parent Hyundai Heavy Industries, the world’s largest shipbuilder, which has already made staff redundant, shuttered two drydocks at its headquarters in Ulsan and closed its Gunsan yard.

Hyundai Heavy’s bid to get 5,000 of its staff to take unpaid leave from tomorrow has sparked the unions into action with calls for a strike.

Hyundai Mipo has closed its smallest drydock, number four. The yard did receive some good news however this week with Bahri Dry Bulk signing for four bulk carriers worth a total of $120m, scheduled for delivery in 2020.

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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