Hyundai Heavy Industries, the world’s largest shipbuilder, has announced it will shutter another dock at its Ulsan flagship facility.
Dock five, which traditionally has built tankers and is 380 m long and 65 m wide, joins dock four in being suspended as the yard faces a massive downturn in new contracts.
HHI, whose giant Ulsan yard has nine docks in total, says its fifth dock will be used for repair work or adding finishing touches to nearly completed vessels.
HHI suspended use at its fourth dock in June last year. It has been reported that it is prepared to suspend work at an affiliate shipyard, Gunsan Dockyard, from May this year.
HHI has warned that up to 6,000 workers could lose their jobs this year. Around 3,000 were made redundant in 2016.