Exceeding Annual Target
The Hyundai Heavy Industries (HHI) Group announced on June 1 that its three shipbuilders (Hyundai Heavy Industries, Hyundai Samho Heavy Industries, and Hyundai Mipo Dockyard) landed orders for 20 units amounting to US$ 1.3 billion in May.
The number of their orders in May is close to that of their April orders (21 units). But in terms of monetary value, the former grew 30% from the latter. This fact is interpreted as a positive sign that the group is escaping from its prolonged slump in landing orders by chalking up stable performances for two months in a row.
This year, the trio booked US$3.8 billion in orders for 62 vessels in total until May while they recorded US$1 billion in orders for 12 ships during the same period of last year. In terms of the number of ships ordered, their orders more than quintupled year on year. In particular, as they reached US$7.5 billion in orders, 51% of their annual goals earlier than expected, it is much anticipated that they will record better results in winning orders.
By vessel type in the May sales, Hyundai Heavy Industries (including Hyundai Samho Heavy Industries) won orders for 13 tankers and one LNG tanker amounting to US$1.07 billion while Hyundai Mipo Dockyard recorded US$240 million in orders for four petrochemical carriers (PCs) and two ships of other types.
In particular, the trio of the HHI Group won orders for 28 tankers with a capacity of 100,000 tons or more until May, winning 67% of orders for 42 units (based on data from Clarkson). In addition, they also landed orders for 14 very large crude carriers (VLCCs), more than the half of orders for 27 units in total in the world.
"We are expecting to win orders exceeding our order target this year as inquiries about orders for VLCCs and LNG tankers are on a steady rise," a Hyundai Heavy Industries official said.