Hyundai Heavy Meets 50% of This Year's Ship Order Target

  • By Jeon Soo-yong

    June 02, 2017 11:28

    Hyundai Heavy Industries Group has already achieved 51 percent of this year's total shipbuilding order target despite a record drought in orders for the industry.

    The group said shipbuilding orders for Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries in the first five months of this year totaled US$3.8 billion, up five-fold from the same period of 2016.

    In May alone, Hyundai won 20 vessel orders worth $1.3 billion. And orders for another nine vessels have also been received although the contracts have yet to be signed, bringing the total up to $1.9 billion. That marks a 30 percent rise in terms of order amount compared to April. A staffer at the shipbuilder said, "Looking at our orders over the last two months, it seems clear that we are emerging from the slump."

    The group virtually dominated global orders for oil tankers so far this year. The three affiliates won 28 out of 42 global orders for 100,000-ton or larger oil tankers and 14 out of 27 for very large crude carriers.

    Last month they won orders for 13 oil tankers and one gas transport vessel worth $1.07 billion and expect to surpass their order target for this year. 

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