Hyundai Heavy's New Orders Tallied at USD 2.3 bln

Maritime Activity Reports, Inc.

April 26, 2017

Photo: Hyundai Heavy Industries

Photo: Hyundai Heavy Industries

 Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding group, announced today that it won 39 ships worth $2.3 billion for January – April period, which is the largest ship orders for the comparable period in three years. 

HHI Group won 18 ships worth $900 million in April alone. Since the orders include options exercisable by owners to order additional same or similar class vessels, the total orders in April will amount to 31 ships worth $1.5 billion.
Considering Hyundai Heavy Industries (HHI) is now in the final negotiating stage for additional three ships and Hyundai Mipo Dockyard (HMD) for two more vessels, and an array of other shipbuilding inquiries HHI Group is receiving lately, HHI Group expects more orders to come in May and afterwards.
Despite a dearth of new orders in the global shipbuilding market, HHI Group was capable of winning the huge orders on the back of its competitive edge on eco-friendly shipbuilding capabilities and comprehensive restructuring efforts resulting in healthier fiscal soundness over its competitors.
With uncertainties in the shipbuilding lingering on, it seems natural that shipowers prefer to placing order to HHI Group that has a stronger financial status and proven track records of delivering thousands of ships on time.
An official from HHI said, “With our new orders improving this year, we are receiving shipbuilding inquires doubled over the last year’s comparable period. With our competitive edge on green shipbuilding technology and fiscal health, we will continue to exert efforts to win more orders.”
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