Hyundai Heavy Industries Co said it secured orders for 31 vessels worth $3.3b in May. According to AFX News, it is the largest ever monthly
shipbuilding orders total.
The figure, which beat the previous record of $2.6b set a year ago, includes its affiliate Hyundai Samho Heavy Industries' orders for seven ships worth $700m.
In the five months to May, Hyundai Heavy and Hyundai Samho's orders totaled $8b for 82 ships.
Driven by a rise in international trade and freight rates
, the company expects more new orders in the coming months.
As of May, Hyundai Heavy and Samho's backlog of orders has reached 290 ships,worth $28b, which will keep its shipyard busy for at least 3.5 years.
Source: AFX News