Hyundai Heavy, affiliates bag US$3.8 bln orders through May

SEOUL-- Hyundai Heavy Industries Co. said Thursday that it and its two affiliates have secured orders valued at a combined U$3.8 billion in the first five months of the year, achieving around half of their annual order target of $7.5 billion.

The major shipyard said the orders secured in the January-May period to build a total of 62 ships, represents a sharp rise from $1 billion worth of orders to build 12 ships on-year.

In May alone, Hyundai Heavy, Hyundai Samho Heavy Industries Co. and Hyundai Mipo Dockyard Co. received a combined $1.3 billion worth of orders to build 20 vessels.

When options are counted, their May orders swelled to $1.9 billion, it said.

Last month, Hyundai Heavy and Hyundai Samho clinched deals valued at $1 billion to build 14 ships.

Hyundai Mipo also secured $240 million worth of deals to build six ships, it said.

Source: Yonhap News Agency

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