HHIC gets the nod to build Exmar VLGCs

Exmar has chosen Hanjin Heavy Industries’ subsidiary in the Philippines to build two VLGCs, a market source said.

News that Hanjin Heavy Industries and Construction (HHIC) clinched the contract came a month after TradeWinds reported that the Subic Bay shipbuilder was in a position to win the order.

Exmar head of shipping Pierre Dincq declined to comment.

HHIC had been competing neck and neck with South Korean rival Hyundai Heavy Industries for the order, with China's Jiangnan Shipyard also a contender.