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Biz News Korea(Eng)
Korea’s shipbuilders buoyant in order target amid oil recovery
- Collected
- 2017.01.14
- Distributed
- 2017.01.16
- Source
- Go Direct
The country’s top three players - Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co., and Samsung Heavy Industries Co. - hope to bump up order levels to triple last year’s pitiful record of $7 billion.
According to shipbuilding industry sources on Friday, the country’s largest shipbuilder Hyundai Heavy Industries and its affiliates Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co. set this year’s order target at $5.8 billion or more. The shipbuilding group’s order book last year pulled in $5 billion, falling short of $5.8 billion target for 2016 and $12.5 billion record set in 2015.
Korea’s second-largest dockyard Daewoo Shipbuilding & Marine Engineering that was able to ink shipbuilding contracts worth $1.55 billion reportedly is aiming to secure new orders worth $5.5 billion or above this year. It would bid to win offshore plant orders worth $1.5 billion or above after being idle on the field during the past two years.
Samsung Heavy Industries which performed the worst drawing just $520 million new orders set a target for this year at $6 billion by riding on the recovery in oil drilling market.
By Moon Ji-woong
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]