The facility will run out of work by the end of July when it finalizes its last order secured in November 2014. It is scheduled to close its doors in August 2018, marking the first time it shuts down since the start of operations in 1983.
The shipbuilder opted for the move as it cannot afford the yard’s operations until it receives new orders. HHI has not been able to fetch any new deals for offshore units in the past three years.
Although it competed in a number of tenders for newbuilding orders, Hyundai Heavy Industries lost the offshore contracts to Chinese and Singaporean rivals.
Additionally, the company informed that it would need to decrease current production costs in order to gain competitiveness and secure shipbuilding orders.
The shipyard closure will leave some 5,600 offshore workers redundant, 2,600 of which are regular employees and 3,000 are supplier workforce.(marine crane manufacturer;offshore crane manufacturer)
This kind of truck mounted cranes can be used for multiple work applications, such as electric line maintenance and construction, transmission and distribution, tree trimming and other related uses. Articulating cranes, which are also known as knuckle boom cranes, are designed to be heavyweight and highly maneuverable for maximum payload while working in tight spaces.
With a lifting capacity up to 200 ton meters, OUCO Knuckle boom Truck mounted Cranes are a popular choice for construction, mining, marine industries and others. (marine crane manufacturer;offshore crane manufacturer)