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Hyundai Mipo Dockyard expected to win more orders as rivals collapse

Collected: 2016.08.23

Distributed: 2016.08.24

Source: Go Direct

South Korea’s Hyundai Mipo Dockyard Co., one of the leading shipbuilders in the sectors of medium-sized conventional ships and specialized vessels would benefit in new orders due to collapse of its rivals at home and abroad.

According to China Business News on Monday, one of the China’s 10th largest shipbuilders Sinopacific Offshore & Engineering Co., a subsidiary of Evergreen Holding Group Co. went into bankruptcy. It was in rivalry with Hyundai Mipo Dockyard for orders of liquefied petroleum gas (LPG) carriers.

“The collapse of its rivals such as STX Offshore & Shipbuilding Co. and Sinopacific O&E could mean that Hyundai Mipo would stand a better chance to strike more orders,” said Choi Gwang-sik from HI Investment & Securities Co.

By Kim Dae-gi

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