Hyundai Heavy Plans to Deliver More Ships in 2008

According to reports, Hyundai Heavy Industries Co., plans to deliver 25 percent more vessels this year as it increases production to work through almost four years worth of orders. The company delivered 11 vessels to carry consumer goods and fuel in January, the most in a month in the industry, the Ulsan, South Korea-based company said in an e-mailed statement today. The ships were all delivered as much as two-and-a-half months earlier than scheduled, it said. Hyundai Heavy delivered six large-sized container vessels, two LNG carriers, two oil tankers and one liquefied petroleum gas ship in January, the company said. The shipbuilder delivered a total of 81 vessels valued at $6.85 billion last year, compared with 73 worth $4.81 billion in 2006. Of the total, 46 were container ships, 16 oil tankers and 10 LNG carriers. Source: Bloomberg