Three South Korean Shipyards Bag USD 50 Billion in New Orders


As the year of 2011 nears its end, South Korea’s big three shipyards have notably surpassed their annual targets. Hyundai Heavy, Samsung Heavy and Daewoo Marine have now collectively posted orders worth $49.6bn. With a significant number of current negotiations, $50bn could be easily reached. This accounts for the second highest score from the big three, behind 2007’s $68.5bn.

Upon securing 86 vessels worth $19.8bn in shipbuilding and offshore and engineering divisions, Hyundai, including Hyundai Samho Heavy Industries, met its target. With 49 vessels of $15bn and 52 vessels of $14.8bn, Samsung and Daewoo went beyond its new order target by over $3bn.

World Maritime News Staff, December 23, 2011;




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