Hyundai Heavy Shares Climb

Monday, November 12, 2007
Hyundai Heavy Industries Co., whose stock more than quadrupled this year, rose to a record in Seoul trading after analysts raised their share-price targets by as much as 41 percent on an optimistic earnings outlook, according to a Bloomberg report. The world's biggest shipbuilder gained 4.1 percent to $581.49, the highest since they started trading in August 1999. The stock is the best performer of the 50 biggest companies in South Korea's Kospi index this year. Yards in South Korea, the world's largest shipbuilding country, are reporting record earnings this year on demand for vessels to transport raw materials to China and finished goods to the U.S. and Europe. Shipbuilding accounts for about half of Hyundai Heavy's sales. The company also makes marine engines and develops electronics. CJ Investment & Securities Co. increased its target price for Hyundai Heavy to $714.19 from $507.92. Korea Investment & Securities Co. raised its share-price estimate to $767.91 from $548.51. Woori Investment & Securities Co. boosted its projection to $713.13 from $592.45. Hyundai Heavy yesterday said third-quarter profit more than doubled to a record of $479m after it raised vessel prices and as China's trade with Europe and the U.S. spurred demand for ships. That compares with a $433.4m average of 12 analyst estimates compiled by Bloomberg. [Source: Bloomberg]

People & Company News

MN100: Conrad Shipyard

The Company: Conrad Shipyard was established in 1948 and is headquartered in Morgan City, Louisiana. The company designs, builds and overhauls tugboats, ferries,

Why Maritime Museums Matter

With today’s focus on digital technology, mobile apps, enhanced reality and the overall digital landscape, the maritime industry often gets overshadowed, leaving some to ask,

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.

Patrol Boats

Philippines: Sea Dispute Won't Shift Ties with China, U.S.

The Philippines' territorial dispute with China over the South China Sea has not caused Manila to rebalance diplomatic ties with either its ally, the United States,

Bollinger Delivers 19th FRC to the USCG

Bollinger Shipyards has delivered the 19th Fast Response Cutter (FRC), USCGC Rollin Fritch, to the U.S. Coast Guard.   The 154-foot patrol craft USCGC Rollin

Indonesia Sinks 60 Fishing Boats on Independence Day

On Wednesday, Indonesian Independence Day, the southeast Asian country  sank 60 vessels – 58 foreign boats and two domestic vessels –  it captured for unlawfully fishing in its territorial waters.

 
 
Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0823 sec (12 req/sec)