Hyundai Heavy Industries (HHI) completed its 10th drydock, ‘H-dock’. It is the world’s first drydock specializing in FPSO (Floating, Production, Storage and Offloading unit).

The drydock, which cost 140 billion won, measures 490m in length, 114m in width, and 13.5m in depth with a capacity of 1 million dwt. The dock covers the same area as seven football pitches. It has two 1,600ton goliath cranes.

Traditionally FPSO’s hull sides and topside are built separately. The hull is built in a ship building drydock and then transported to a quay for topside installation. This method is time consuming and makes the use of a crane very difficult.

With the new H-dock, HHI can now simultaneously build both the hull sides and topside in the same dock.

HHI expects to reduce production costs by more than 15%, and the construction time to build an FPSO about one month.

HHI begin building the US$1.6 billion Usan FPSO in June. The FPSO was ordered by EPNL, a subsidiary of Total, France in February 2008.

HHI will use the H-dock for shipbuilding when not working on an FPSO. For shipbuilding, the new drydock can build four vessels of more than 180,000-dwt ship at the same time. Its annual capacity is 12 vessels.

“The H-dock comes from HHI’s 37 year shipbuilding knowhow. With this drydock, HHI can increase its productivity and strengthen its competitive edge for offshore facilities such as FPSO and LNG-FPSO,” said Mr. Oh Byung-wook, COO of Offshore and Engineering Division.

HHI has won seven FPSOs out of eleven FPSOs ordered worldwide.

◈ FPSO: Floating, Production, Storage and Offloading Unit

A FPSO produces and stores oil in its hull side and unloads oil to oil tanker while floating in the deep sea. It is high value added offshore facility worth 1.5 to 2 billion dollars. Demand for the FPSO is increasing following the global resource development growth.

About Hyundai:

 

Hyundai Heavy Industries (HHI), founded by the late Chung Ju-yung on March 23, 1972, wrote the first chapter of its shipbuilding history in June, 1974, by completing construction of the world's largest shipyard and two 260,000-dwt VLCCs all at the same time. A decade after its first delivery, the Hyundai Shipyard topped 10 million deadweight tons in aggregate ship production, and has maintained the leading position in the world shipbuilding market ever since. Hyundai Shipard's drive has mirrored the growth of modern Korean heavy industry, and its success has allowed it to expand into other heavy industry areas, ultimately leading to the formation of Hyundai Heavy Industries, an integrated heavy industry company.