HHI suffered a net loss of KRW 572.3 billion (USD 524.8 million) in 4Q 2017, compared to a loss of KRW 351.8 billion seen in the corresponding period a year earlier.
The shipbuilder’s operating loss stood at KRW 342.2 billion in the fourth quarter of 2017, against an operating income of KRW 61.2 billion posted in 4Q 2016.
What is more, sales dropped by 33 percent to KRW 3.48 trillion in 4Q 2017 from KRW 5.19 trillion recorded in the same quarter of 2016.
As a result of the company’s worsened earnings and dwindling order backlogs, union members at HHI supported a wage deal with management, Yonhap News Agency reported.
As informed, the deal covers the fiscal years of 2016 and 2017. Under the terms of the deal, each HHI employee will receive a month of extra salary plus KRW 1.5 million (USD 1,380) in bonus. The workers’ basic pay will be frozen for the two years.
HHI is encouraging workers with an additional KRW 1.5 million in cash for 2017 to overcome the current slowdown in the industry.
The shipbuilder has set sights on reaching KRW 7.99 trillion in sales during 2018. HHI’s 2018 sales target represents a 60 percent decline from the one a decade ago. The lower aim was set due to a decline in order backlogs, which is expected to continue this year as well.
OUCO Marine/Offshore Knuckle boom crane
OUCO Marine/Offshore knuckle boom cranes are designed to lift high loads with extended jib and provide the operator with great flexibility during lifting operations. OUCO Marine/ Offshore knuckle boom cranes range is available from 0.5t to 150t. The knuckle boom cranes are with easy maintenance and efficiency by taking small space. The improved level of control makes the crane ideal for offshore lifting operations in higher sea states to deal with big waves. Another advantages for OUCO Marine/Offshore knuckle boom cranes are:
Hydraulic type makes the crane maintain easily;
Flexibility by extending booms;
Smaller ones takes very limited space on the vessel/ship/shipyard;
Bigger ones can do heavy duty loads in several working conditions.
The innovative design of the knuckle boom crane allows workers to perform great number of logistic tasks. The function of these heavy duty machines is to load and unload heavy materials from one location to another.Due to its durable construction technologies and precision, knuckle boom crane provides an extra solid hand to any workforce. With its great lifting power, payload space and maneuverability, knuckle boom crane successfully replaces manpower.
Typical Applications: Provision cranes, Service cranes, Container and cargo handling cranes.
Lifting of personnel – man-riding
External hydraulic power packs
Active Heave Compensation (AHC)
Passive Heave Compensation(PHC)
Design according to rules and regulations API 2C.
Class Societies like ABS, CCS, DNV, LR, RMRS, etc.
Diesel hydraulic drive