Hyundai Heavy targets $16bn in new orders for 2020

Deal target remains unchanged from 2019. The group only managed to meet 76% of the goal last year.

News ID: 80468

Date: 05 January 2020 - 09:27

Flagship Hyundai Heavy Industries has the most ambitious goal at $8bn in new orders.

HYUNDAI HEAVY INDUSTRIES GROUP HAS THREE YARDS UNDER ITS UMBRELLA.

THE dominant South Korean shipbuilding group Hyundai Heavy Industries Group has announced its new order target for 2020, keeping it unchanged from the $15.9bn it aimed to achieve last year, according to Yonhap.

The combined target of its three shipbuilding units was unmet in 2019. Last year, orders sealed by Hyundai Heavy Industries, Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard came up to $12bn, or 76%, of the goal.

Flagship subsidiary Hyundai Heavy Industries aims to bag $8bn worth of deals, while Hyundai Mipo Dockyard has set a target of $3.65bn, up slightly from its previous annual order target of $3.53bn in 2019.

Hyundai Samho Heavy Industries plans to secure orders worth $4.25bn in 2020.