Three South Korean Biggest Shipyards Reach USD 50 Billion in New Build Orders

As the year 2011 closes by, South Korean three biggest shipyards have so far landed their annual targets in new build orders. Encouraged by strong offshore demand, Samsung Heavy, Daewoo Marine and Hyundai Heavy have all together secured orders worth USD 49.6 billion.

If the tempo continues, 50 billion mark could be easily reached by 2012. Hyundai, with its Hyundai Samho Heavy Industries, with 86 vessels already ordered, have so far reached the target of approx. USD 20 billion in new build orders. Samsung and Daewoo have beaten their new order target by over USD 3 billion. Samsung won 49 new vessel orders totaling USD 15 billion and Daewoo 52 vessel orders of USD 14.8 billion.

[mappress]

Shipbuilding Tribune Staff, December 22, 2011;