$2.1bn shipbuilding orders in 11 months for HHI

HYUNDAI Heavy Industries, South Korea’s largest shipbuilder, reported $2.1bn in new orders for the first 11 months of this year.

News ID: 71000

Date: 21 December 2016 - 09:10

In November, the conglomerate received an order to build one 7,500 cu m liquefied natural gas bunkering vessel for Germany's Bernhard Schulte. According to the document, the contract value stood at $571m.

Total new orders for HHI, whose business portfolios also include industrial plant and engineering, engine and machinery, electro electric systems, construction equipment and green energy, amounted to $7.1bn during the reporting periodDespite the challenging environment, HHI seems to have fared better than its compatriot competitors in securing new orders. Samsung Heavy Industries, another shipbuilding giant in Korea, recorded only $800m in newbuilding contracts for the 11-month period.

Earlier this week, HHI signed a memorandum of understanding with Seongnam City to establish the Integrated HHI Group Research & Development Centre.Earlier this week, HHI signed a memorandum of understanding with Seongnam City to establish the Integrated HHI Group Research & Development Centre.