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Hyundai Archives - IRAN This Way https://iranthisway.com/tag/hyundai/ Become familiar with Iranian lifestyle! Sat, 31 Dec 2016 10:18:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.9 https://iranthisway.com/wp-content/uploads/2016/04/cropped-ir-fave-iocn-32x32.png Hyundai Archives - IRAN This Way https://iranthisway.com/tag/hyundai/ 32 32 Daewoo to develop Iranian shipyard https://iranthisway.com/2016/12/31/daewoo-develop-iranian-shipyard/ https://iranthisway.com/2016/12/31/daewoo-develop-iranian-shipyard/#respond Sat, 31 Dec 2016 10:18:58 +0000 http://iranthisway.com/?p=7459 South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME) and the Industrial Development and Renovation Organization of Iran (IDRO) have signed an outline agreement to cooperate on developing Iran’s shipbuilding industry. Based on the deal with IDRO, Daewoo shipbuilding will construct a shipyard and related facilities in Iran, according to Yonhap News Agency....

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South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME) and the Industrial Development and Renovation Organization of Iran (IDRO) have signed an outline agreement to cooperate on developing Iran’s shipbuilding industry.

Based on the deal with IDRO, Daewoo shipbuilding will construct a shipyard and related facilities in Iran, according to Yonhap News Agency.

The parties plan to establish a joint venture company (JVC) to develop an Iranian shipyard with cooperation from DSME Okpo Shipyard on the engineering and construction of the types of vessels Iran needed.

The shipyard said that the Iranian side wants financing from the South Korean government in addition to shipbuilding-related technology and operation know-how from Daewoo Shipbuilding.

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME) and the Industrial Development and Renovation Organization of Iran (IDRO) have signed an outline agreement to cooperate on developing Iran's shipbuilding industry.

Daewoo Shipbuilding said the deal will help it make inroads into Iran’s shipbuilding market and export related equipment.

Since 1983, Daewoo Shipbuilding secured a combined $1.65 billion worth of orders to build a total of 38 ships from Iran’s state-run shipping firms, such as National Iranian Tanker Company.

In early December, Hyundai Heavy Industries Co. — a major shipyard in South Korea — announced that it clinched a deal with Iran to supply 10 ships.

Under the expected contract, valued at $650 million, with the Islamic Republic of Iran Shipping Lines (IRISL), Hyundai will build four 14,400 TEU container ships and six 50,000 DWT product tankers.

The ships will be delivered from the third quarter of 2018, it added.

The contract will was Iran’s first deal with a foreign shipbuilder since the lifting of international sanctions on the Middle Eastern nation.

Iran is seeking a series of ship-related contracts via the IRISL to handle increasing trade cargo.

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Report: Iran enters mega ship era https://iranthisway.com/2016/12/27/report-iran-enters-mega-ship-era/ https://iranthisway.com/2016/12/27/report-iran-enters-mega-ship-era/#respond Tue, 27 Dec 2016 17:23:49 +0000 http://iranthisway.com/?p=7393 Alphaliner has listed the Islamic Republic of Iran Shipping Line (IRISL) as the 20th operator among the top 100 container lines, with a total capacity of 99,867 TEUs over 47 ships. Information from the corporate website indicates tonnage ranging from 1,000 to 6,500 TEUs, but it appears that most of its current fleet is under...

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Alphaliner has listed the Islamic Republic of Iran Shipping Line (IRISL) as the 20th operator among the top 100 container lines, with a total capacity of 99,867 TEUs over 47 ships.

Information from the corporate website indicates tonnage ranging from 1,000 to 6,500 TEUs, but it appears that most of its current fleet is under 5,000 TEUs, according to an article recently published by the American Journal of Transportation.

According to a contract signed with Islamic Republic of Iran Shipping Line (IRISL), South Korea’s Hyundai Heavy Industries Company, Ltd. (HHI) will build mega-container vessels as well as tankers for carrying petroleum products for Iran.

Negotiations with Hyundai

IRISL’s operating portfolio is modest by today’s standards, but all that is about to change.

On December 9, they reached an agreement with Hyundai Heavy Industries to build 10 ultra large vessels at Hyundai’s Ulsan yards in South Korea. Stretching 2.5 miles along Mipo Bay, Ulsan is the world’s largest shipbuilding operation. When the ‘new build’ frenzy began to cool between 2008 and 2010, shipyards were left holding the bag on unfulfilled orders.

Delivery dates slipped and contract prices were renegotiated leaving shipyards in a slump that continues today.

Hyundai began negotiations on Iranian ships in 2005, but plans were sidetracked as the world’s economy weakened. Finalizing this order will breathe new life into Hyundai.

The Ulsan yard will build six chemical tankers and four ultra large container vessels each at 49,000 DWT with a capacity of 14,500 TEUs. Delivery of the first of these mega container ships is scheduled for 2018. An additional two ULVs may also be in the works upon the completion of the initial order.

The total for tankers and container ships is said to be worth $2.4 billion.

Challenges, opportunities

As a niche player with limited capacity, IRISL had adequately filled the country’s maritime needs and had additional container slots to sell on the open market. Mega vessels will require more aggressive marketing and greater sophistication in handling at load and discharge centers. Some of this expertise will be provided by CMA-CGM that has entered into an operating agreement with the line. This agreement comes on the heels of more open trade, as nuclear sanctions are lifted and world commerce once again flows through Iranian ports.

Several carriers, including Evergreen and MSC, reopened calls to Iran this year with the potential for United Arab and Maersk to enter the market after January. Renewed trade with Europe will commence with the further loosening of sanctions.

IRISL will surely capitalize on their expanding container fleet and slot charter agreements with their carrier partners.

IRISL

Capital for investment

The United States paid Iran several billion dollars in frozen assets as interest against a failed 1979 arms deal. Payments began after the UN Security Council lifted the nuclear sanctions, which triggered Iran’s maritime development.

As IRISL began to examine options for fleet development and trade expansion, world markets opened up and international partners such as Hyundai and CMA-CGM came on board.

Funding for construction and development of Iran’s maritime interests came along with it.

Ambitious plans

Managing Director of the Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) Hamid Rezaeian-Asl announced an agreement with Hyundai Heavy Industries for financing and technical knowhow at their facility near Bandar Abbas.

Opening in 2006, the ISOICO facility sits on 1,100 hectares of land with a 380-hectare marine basin. Initial projects included design and construction of several passenger liners and feeder-max container ships.

The yard has the capacity to build and repair larger vessels and Hyundai will advance Iran’s ability to produce VLCC and ULCC class container ships.

IRISL

A bright future

With the infusion of money and expertise from world sources, IRISL has announced plans to become a top 10 ranked Alphaliner carrier by 2020.

China has also been invited to visit the ISOICO shipyard and last year there were even negotiations for the Chinese to build 18,000 TEU ships for the line.

The future of Iran’s maritime interests is extremely bright. Of course, having the money to invest in the expansion of national fleet and shipbuilding facilities is crucial.

The world seems to be at Iran’s doorstep; even the United States did $152.4 million in exports this year.

As IRISL expands port calls to Europe and increases trade routes to Asia and Africa, whether Iranian ships will dock at US ports any time soon remains to be seen.

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IRISL, Hyundai signed $600 million shipbuilding contract https://iranthisway.com/2016/12/10/irisl-hyundai-ink-shipbuilding-contract/ https://iranthisway.com/2016/12/10/irisl-hyundai-ink-shipbuilding-contract/#respond Sat, 10 Dec 2016 08:56:10 +0000 http://iranthisway.com/?p=6425 According to a contract signed with Islamic Republic of Iran Shipping Line (IRISL), South Korea’s Hyundai Heavy Industries Company, Ltd. (HHI) will build mega-container vessels as well as tankers for carrying petroleum products for Iran, IRNA reported on Friday. The contracts were the first of their kinds that Iran has signed after the removal of...

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According to a contract signed with Islamic Republic of Iran Shipping Line (IRISL), South Korea’s Hyundai Heavy Industries Company, Ltd. (HHI) will build mega-container vessels as well as tankers for carrying petroleum products for Iran, IRNA reported on Friday.

The contracts were the first of their kinds that Iran has signed after the removal of sanctions in January. They were sealed between Hyundai Heavy – the world’s biggest shipbuilder – and the Islamic Republic of Iran Shipping Lines (IRISL) – the biggest shipping company of the Middle East – at a total value of above $600 million, Press TV reported.
According to a contract signed with Islamic Republic of Iran Shipping Line (IRISL), South Korea’s Hyundai Heavy Industries Company, Ltd. (HHI) will build mega-container vessels as well as tankers for carrying petroleum products for Iran.

The contract is the first of its kind in Iran’s post-sanction era and includes construction of mega-container vessels with 14,500 twenty-foot equivalent units (TEU) capacity and tankers with 49,000 deadweight tonnages (DWT).

The mega-container vessels are to be built in HHI’s yard and the tankers will be constructed in Hyundai Mipo Dockyard Company’s (HMD) yard under International Maritime Organization (IMO) standards and applying Regulations for the Prevention of Air Pollution from Ships (NOX emission limits).

hyundai ships

The funding for the orders would be provided by South Korean banks and financial institutions.

A Hyundai Heavy spokesman said on Monday that IRISL was in talks with the ship builder over a 10-ship order, but gave no details, WSJ reported.

The first deliveries are expected in 2018, according to the report.

The ULCVs that have been ordered to be built will be the first of a new generation of vessels that Iran will acquire,” the IRISL announced in a statement. Hyundai Heavy is expected to start delivering the vessels from the second quarter of 2018, IRNA added.

Discussions with the company over IRISL’s vessel orders had started last December.

The contracts were parts of the IRISL’s plans to renovate its fleet through a total investment of $2.5 billion, The Wall Street Journal had earlier reported.

The company operates about 115 oceangoing vessels, but many of the ships are old.

As Iran moves to build modern fleets, its companies have been chartering vessels from Greek and other owners to build market share in container and tanker cargoes.

The Iranian shipping line hopes the container order will give it the necessary capacity to eventually join one of three major shipping alliances that move the vast majority of global containerized cargo, IRISL officials have said.

Annual seaborne trade between Iran and the European Union amounted to $15 billion before the first broad, international sanctions were imposed on the country in 2008. Tehran expects to return to that level by 2020.

The Iranian orders will be a welcome respite for shipbuilders suffering from a virtual halt of new orders as shipping is trying to cope with glut of tonnage in the water estimated at 30% above demand.

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Hyundai deal with Iran for 10 ships https://iranthisway.com/2016/12/04/hyundai-deal-iran-10-ships/ https://iranthisway.com/2016/12/04/hyundai-deal-iran-10-ships/#respond Sun, 04 Dec 2016 06:40:08 +0000 http://iranthisway.com/?p=6275 Hyundai Heavy Industries Co., a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships. Under the expected contract, valued at $650 million, with the Islamic Republic of Iran Shipping Lines (IRISL), Hyundai will build four 14,400 TEU container ships and six 50,000 DWT product tankers, TradeWins, a...

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Hyundai Heavy Industries Co., a major shipyard in South Korea, looks set to clinch a deal with Iran to supply 10 ships.

hyundai ships

Under the expected contract, valued at $650 million, with the Islamic Republic of Iran Shipping Lines (IRISL), Hyundai will build four 14,400 TEU container ships and six 50,000 DWT product tankers, TradeWins, a global shipping news service, reported Saturday.

The ships will be delivered starting in the third quarter of 2018, it added.

If signed, the contract will be Iran’s first deal with a foreign shipbuilder since the lifting of international sanctions on the Middle Eastern nation.

Iran is seeking a series of ship-related contracts via the IRISL to handle increasing trade cargo.

“We are in consultations [with the Iranian side on the possible contract] but it’s not decided yet,” a company official said.

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Report: Facilitating investment in Iran petrochemical ind. https://iranthisway.com/2016/11/11/report-facilitating-investment-iran-petrochemical-ind/ https://iranthisway.com/2016/11/11/report-facilitating-investment-iran-petrochemical-ind/#comments Fri, 11 Nov 2016 17:30:48 +0000 http://iranthisway.com/?p=5497 Iran’s petrochemical industry was privatized more than a decade ago. Today, the government is only paving the ground for the development of petrochemical sector. During years of international sanctions on Iran, the government was of great help to the private sector in its transactions. The signature of a historic nuclear deal between Iran and six...

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Iran’s petrochemical industry was privatized more than a decade ago. Today, the government is only paving the ground for the development of petrochemical sector. During years of international sanctions on Iran, the government was of great help to the private sector in its transactions.
The signature of a historic nuclear deal between Iran and six world powers in July 2015 led to the lifting of restrictions on investment and transfer of technology.

From 2008 to 2015, Iran’s petrochemical industry had not used finance and usance. But thanks to efforts by the administration of President Hassan Rouhani and the conclusion of the Joint Comprehensive Plan of Action (JCPOA) we have been witnessing achievements in the petrochemical industry. Finalization of an agreement between Kian Petrochemical Plant and Germany’s Linde is a case in point.
The most important and the most practical measure by the Iranian government in favor of the private sector has been its efforts to win guarantee for foreign investment in the petrochemical sector. In the past, foreign companies invested in Iran because the government guaranteed exports of petrochemical products, but today there is no such a guarantee. Therefore, the government is seriously looking for a solution to resolve this problem. Germany’s BASF and Linde, France’s Axens, South Korea’s Hyundai, Royal Dutch Shell and South Africa’s Sasol are among top companies engaged in negotiations with Iran. All of them have been speaking about the issue of guaranteeing investment in Iran’s petrochemical industry. They know quite well that the rate of return on deposits in the banks is about one percent, while the rate of return on investment in Iran’s petrochemical projects is at least 20 percent.

Iran petrochemical industry

Petchem Plants Startup

Over the past several years, Iran has been stepping up construction of petrochemical plants. According to official data, the number of operating petrochemical plants has increased from 46 in 2013 to 53 today with an output of 54 million tons a year. Three more petrochemical plants are projected to become operational in one month. Therefore, the rated capacity of these petrochemical plants will cross 64 million tons.

Furthermore, more than 50 other petrochemical plants with a nominal capacity of 41.3 million tons are under construction. Experts see the startup of these 50 projects as the second jump in Iran’s petrochemical industry to bring the country to its real standing in this sector.
Over the past two years, 11 petrochemical projects have come on-stream in Iran. Some of these projects are unique as they have become operational while Iran was international restrictions.

Some of them are as follows: hydrogenation unit of Shazand Petrochemical Plant, Petrochemical Research and Technology Company’s the semi-industrial HDPE unit, Fajr-2 centralized utility, Ilam HDPE unit, PBR/SBR unit of Takht Jamshid Petrochemical Plant, West Ethylene Pipeline’s 8th to 10th tranches, Lorestan HDPE/LDPE unit, Urmia Petrochemical Plant’s sulfuric acid unit, Mahabad Petrochemical Plant’s HDPE/LDPE unit, Shohada ammoniac/urea unit in Marvdasht, Assaluyeh ethylene glycol (Morvarid Petrochemical Plant) and the second phase of 11th olefin project (Kavian Petrochemical Plant).
The startup of petrochemical projects will continue in Iran. According to plans, 11 projects with a capacity of 6.2 million tons are to become operational this calendar year to March 2017. Furthermore, 6 other projects are forecast to come online next calendar year.

iran petrochemical

Petchem Sales Up in Iran

Conditions have improved for Iran’s petrochemical exports following the implementation of JCPOA last January. Iran’s petrochemical exports have grown 25% post-sanctions.

Over the past three years, Iran’s petrochemical sales has increased from 27.3 million tons to 39 million tons a year, earning the country $19.7 billion in revenue.
The value of Iran’s petrochemical exports is nearing its previous levels. In 2012, Iran gained $12 billion from petrochemical exports. Today, its revenue stands at $10 billion although oil prices have been almost halved.

Over these years, Iran’s petrochemical industry has always insisted on the completion of the value chain and downstream industries through proposing new development projects of high value-added and acceptable economic justification based on spatial planning studies with a view to exporting products, completing value chain for presentation to qualified investors, helping value engineering in petrochemical projects for reducing costs and providing infrastructure and utility for meeting the needs of the private sector.

 Iran petrochemical industry

Target-Oriented Petchem Projects

A gap created in the research and technology of Iran’s petrochemical industry due to widespread privatization in this industry over the past two years has been healed. Private companies, in cooperation with Petrochemical Research and Technology Company (PRTC), are constantly looking for making research projects practical and boosting cooperation with this state-run company. At present, the research and development network in Iran’s petrochemical industry is one of the largest networks in Iran.

Leading research centers towards practical studies and resolving problems of petrochemical industries have been among the effective measures taken by the current administration.
Helping acquire technical know-how for producing chemicals and catalysts needed in the petrochemical industry in collaboration with Iranian elite and the National Foundation of Elites and domestic capabilities like universities and PRTC, indigenizing technical savvy and engineering services including issuance of license, basic design of petrochemical products, helping commercialization of indigenized technical savvies, supporting domestic manufacturing of equipment needed in projects, cooperation with legal bodies for improving business environment, helping remove red tape and streamline bureaucracy, examining bottlenecks in manufacturing companies and finding solutions to them have all been on the agenda of the government.

Deputy oil minister announced that Iran has achieved the technical knowledge to produce polypropylene as a strategic petrochemical product.

The first chemical park in Iran, which is based on the styrene and butane value chain, has been envisaged in Pars Special Economic Energy Zone. The project, which has been privatized, will use 600,000 tons of styrene produced by Pars Petrochemical Company. The construction activities of the chemical park are steered by National Petrochemical Company (NPC).
Over the past three years, all those involved in Iran’s petrochemical industry have constantly focused on endogenous and practical research programs. Over this time they have made great achievements, some of which are as follows:

Technical savvy for olefin furnace, technical know-how for rotating packed bed (RPB), technical savvy for UHMWHD production, technical savvy for biodegradable polyethylene films in LDPE and LLDPE grades, technical savvy for HDPE process, technical savvy for two grades of polyvinyl alcohol (PVA) production, technical savvy for producing epoxy vinyl ester, indigenization of technical knowledge for producing MMP high-density polyethylene, technical savvy for Netzer SB magnesium chloride and magnesium ethoxide, technical knowledge for producing Glycerol Monostearate (GMS), basic technical savvy for spherical gamma alumina, technical savvy for MEK catalyst, technical savvy for LTSC catalyst, basic technical design for ZnO Modified catalyst, technical savvy for isomerization catalyst for refineries, and technical savvy for alumina-based palladium for complete saturation process of olefins.
Over the past one and a half years, important contracts have been signed in petrochemical research and technology.

Awarding license for propylene-via-methanol (PVM) process to Sabzevar Petrochemical Plant, awarding license for methanol production process to Sabzevar Petrochemical Plant, awarding license for the production of two catalysts for polyethylene production (IRSAC 518 and IRSAC 3530) to Lorestan Petrochemical Company, awarding license for dehydrogenation catalyst to Exir Farayand Novin company (used at Bandar Imam Petrochemical Plant), awarding license for methanol catalyst production (Sadr Shimi Company), awarding license of catalyst (EDC 6) to Gohar Saram Company, signing research contract for acquiring technical savvy for naphtha isomerization catalyst to be used at Isfahan refinery, contract for applying technical knowhow for polymer concrete with PRTC for repairing concrete structures at Mobin Petrochemical Plant, production and sale of 800 kilograms of MEK 9 catalyst to Shimi Tax Aria, production and loading of 1.5 tons of dry reforming catalyst for Khuzestan Petrochemical Plant and joint cooperation with Hampa Energy Hedco for mastering ammoniac technical know-how.
PRTC, as the research arm of Iran’s petrochemical industry, has achieved good results from the catalysts it has produced in industrial tests. These results include the production of 1.5 tons of dry reforming catalyst for Khuzestan Petrochemical Plant, production of 800 kilograms of catalyst for Shimi Tax Aria Company, production of 1.5 tons of IRSAC 510 (similar to THS) for Maroun, Amir-Kabir and Shazand petrochemical plants, production of 50 kilograms of PZ catalyst for Mitsui polyethylene for Bandar Imam Petrochemical Plant, production of 20 kilograms of dehydrogenation catalyst for Bandar Imam Petrochemical Plant, production of 60 kilograms of DLP peroxide for Bandar Imam Petrochemical Plant, production of 600 kilograms of methanol catalyst, production of 30 tons EDC catalyst with its own technology for Bandar Imam Petrochemical Plant, production of three batches of 50-kilogram MMP catalyst for HDPE demo consumption at the Arak center of the company, production of 20 kilograms of acetic acid catalyst for Fanavaran Petrochemical Company and successful replacement of catalyst at Jam Petrochemical Company.

 Iran petrochemical industry

New Technologies for Petchem Sector

Today the state-of-the-art oil and gas technologies could be seen at petrochemical plants across the globe. Due to its high value-added, this industry has always encouraged investors to benefit from cutting edge technologies. In Iran, in spite of restrictions, experts and researchers are in quest for new technologies. They try their best to apply new technologies to new projects. For instance, meticulous studies have been conducted to prevent sale of raw substances and complete the value chain and create new capacities for high-value products like propylene. Over the past two years, lots of activities have been done in this sector. For instance, 52 new projects have been introduced for implementation under the 6th Five-Year Economic Development Plan and afterwards with a view to completing the production chain, location of new petrochemical development projects, making new estimates and envisaging feedstock needed for new petrochemical projects.

Among other important activities of the 11th administration regarding petrochemicals are the formation of specialized working groups like the working group for removal of obstacles to production, settlement of disputes between companies, settlement of disputescompanies. between companies and the stock market in setting feedstock prices and clearing accounts of privatized

By Javad Asghari, Source: Iran Petroleum

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