Korean Yards Aims for more Orders in 2018
South Korea’s major shipyards have reportedly raised their order targets for 2018 on the back of improving industry fundamentals.
According to MANA, Hyundai Heavy Industries is said to be targeting $13.2bn worth of new orders, according to unnamed sources quoted by the Yonhap News Agency.
For the world’s largest shipbuilder this represents a 30.2% increase on the $10bn worth of newbuilding orders secured in 2017.
Samsung Heavy Industries Co is reported to be aiming to secure $7.7bn worth of orders in 2018, up 11.6% increase than the $6.9bn seen last year.
Meanwhile, Daewoo Shipbuilding & Marine Engineering reportedly set its annual order target for next year at over $5bn.
“Business conditions are improving on the back of a recovery in the global economy and stable oil prices,” Yonhap quoted the unnamed source as saying.