Hyundai Heavy on the Way Back up

  • By Jeon Soo-yong

    April 27, 2017 13:11

    Troubled shipbuilder Hyundai Heavy Industries seems to be clawing back after winning a quarter of all ship orders placed around the world so far this year.

    The company on Wednesday said it won orders for 39 ships worth US$2.3 billion from January to April (US$1=W1,129). That is the most in three years.

    In the first four months last year Hyundai won orders for only eight ships worth US$500 million.

    According to shipping service provider Clarksons Research, orders for 174 ships have been placed so far this year, so 23 percent of that went to Hyundai.

    Meanwhile, Samsung Heavy Industries has won two orders worth US$1.5 billion so far this year, including for a floating production unit worth US$1.27 billion. Daewoo Shipbuilding and Marine Engineering, which teeters on the brink of bankruptcy, only managed to win seven orders worth US$770 million.

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