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Samsung Heavy Targets 8.7 Tril. Won in New Order Receipts in 2019
Expecting Sharp Growth in Sales This Year
Samsung Heavy Targets 8.7 Tril. Won in New Order Receipts in 2019
  • By Jung Min-hee
  • January 11, 2019, 09:58
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Samsung Heavy Industries are aiming to win new shipbuilding orders worth US$7.80 billion in 2019, up 24 percent from 2018.  

Samsung Heavy Industries Co., a major shipyard in South Korea, is aiming to post 7.10 trillion won (US$6.34 billion) in sales and clinch US$7.80 billion (8.73 trillion won) worth of new orders this year.

The company said on Jan. 10 that its sales would greatly increase this year as offshore projects, such as BP's Mad Dog floating production unit (FPU) and Eni's Coral floating liquefied natural gas (FLNG), are set to begin production and it has started building merchant vessels for contracts won after 2017.

This year’s sales projections were up 29 percent from 5.50 trillion won (US$4.92 billion) of last year’s sales estimates announced in a regulatory filing in October in 2018, while the target figure of new orders grew 24 percent from US$6.30 billion (7.05 trillion won) of last year’s.