Shipbuilding: SHI Eyes Fat Order Book in 2019

South Korean shipbuilder Samsung Heavy Industries (SHI) expects to increase orders by almost 24 percent in 2019 compared to last year.

According to Yonhap, SHI is aiming to clinch USD7.8 billion worth of new orders this year which marks a 24 percent hike from last year’s tally.

The shipyard also aims to post $6.4 billion in sales this year, up 29 percent from last year, it said in a regulatory filing.

According to the stock exchange annoucement, SHI secured some $6 billion worth of new orders last year, lower than its initial target of $8.2 billion.

Samsung Heavy said demand for commercial vessels will continue to remain firm and orders for offshore facilities will come in as well.

Earlier, its local rival Hyundai Heavy Industries Co., the world’s largest shipyard, said it will seek to win $8 billion in new shipbuilding orders in 2019.