ULSAN < invest Korea

According to Yonhap News,

(SEOUL=Yonhap News) Hyundai Heavy Industries Co., a major shipyard here, said Wednesday that it has so far clinched new orders worth US$1.4 billion to build 15 ships this year, including 13 oil tankers.

In a regulatory filing, the shipyard said it bagged orders worth $420 million to build five ships in April alone.

Hyundai Heavy said the combined orders, including those received by its two affiliates -- Hyundai Samho Heavy Industries Co. and Hyundai Mipo Dockyard Co. -- have reached $2.3 billion totaling 39 ships in 2017, the largest since 2014.

The four-month tally compares with $500 million or eight ships secured a year earlier, it said.

Last year, the shipyard and its two affiliates clinched a combined $5.9 billion to build 64 ships.

Hyundai Heavy also said it is set to win more orders this month.

For the year, the shipbuilding company aims at winning orders worth $4.3 billion.

sam@yna.co.kr

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