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.

News ID: 77963

Date: 02 January 2018 - 11:32

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.