Suche

HD Hyundai eyes expansion into Africa

The Korean shipbuilding company HD Hyundai Heavy Industries is exploring a bid to develop a new shipyard in Morocco. The site in the port city of Casablanca is set to have the largest shipbuilding capacity in Africa. European players are also interested in the site.

The potential expansion wouldn’t be Hyundai’s first international venture. The company already operates shipyards in Vietnam and the Philippines, and has recently signed strategic cooperation agreements with India, the USA and Peru.

The site in Casablanca was only put out to tender by the Moroccan port authority last year. The reasons for this are the strategic location of the city and the strong demand, particularly in the ship repair sector.

Companies with at least ten years’ experience in operating similar facilities can participate in the authority’s tender. The proposal shipyard will span 21 hectares and include a 244 m x 40 m dry dock, and a lifting platform with a lifting capacity of 9,000 tons.

The project carries a 30-year concession covering development, equipping, operation and maintenance of the new shipyard. The site is also intended to accelerate the growth of the Moroccan fleet, which is set to grow by 100 new ships by 2040 in order to boost foreign trade. Morocco currently operates a merchant fleet of just 16 ships.

According to the original plans, the shipyard will be able to dry-dock 22 ships per year. The quay will be able to serve 400 to 470 ships a year, and the lifting platforms will be able to accommodate six ships of a maximum of 5,000 tons each at the same time. The estimated investment amounts to 92 million dollars. The government agency said it had budgeted $76 million for the project.

As reported by Business Korea, HD Hyundai is considering submitting a bid. Other bidders for what could be Africa’s largest shipyard include France’s Naval Group and Spain’s Navantia. HD Hyundai, currently with an order book of 450 vessels, is currently looking for ways to increase its cost competitiveness. One answer to this is global expansion, possibly also into Europe. STX Europe pursued a similar strategy at the time, initially investing in numerous locations, including Warnemünde and Wismar (as Wadan Yards) and Turku (now part of the Meyer Group). The financial crisis at the end of the 2000s hit the company hard, as a result of which all shipyard sites had to be sold between 2012 and 2018.

Related Articles

The Taiwanese liner shipping company Yang Ming Marine Transport has ordered a series of seven...

In the first half of the year, the market share of Chinese shipyards decreased significantly....

Cargo throughput totaled 19 million tonnes – an increase of 16% compared to the same...

The Taiwanese liner shipping company Yang Ming Marine Transport has ordered a series of seven...

In the first half of the year, the market share of Chinese shipyards decreased significantly....

Cargo throughput totaled 19 million tonnes – an increase of 16% compared to the same...

hansa-newsletter-logo

Get an overview of the week’s most important news directly to you inbox:

Copyright: © HD Hyundai Heavy Industries

Caption: © HD Hyundai Heavy Industries