South Korea: HHI Targets USD 30.6 Billion Worth of Orders this Year

South Korea’s leading shipbuilder, Hyundai Heavy Industries Co., has revealed its objective to win $30.6 billion worth of orders this year, up nearly 20 percent from last year.

The shipyard is also targeting sales of 27.54 trillion won this year, compared with last year’s 25.2 trillion won.

The company’s orders jumped 48% on-year to $25.5 billion in 2011, due to the growth of its shipbuilding and offshore plants businesses.

The recent rise in vessel orders and prices has brightened the outlook for shipbuilders.

Although the global economic situations are posing challenges for the industry as a whole, the recent rise in vessel orders and prices has brightened future expectations for shipbuilders.

[mappress]
World Maritime News Staff, January 2, 2012; Image: HHI