File photo: Hyundai Heavy Industries

S. Korea's Top Three Shipyards Look Bullish

By Aiswarya Lakshmi!!!

With a slew of contracts to be signed soon South Korean shipyards are expected to clinch a decent number of new orders during the second half of the year, Yonhap reported quoting industry sources.

Hyundai Heavy Industries (HHI) and its affiliates have secured a series of fresh contracts, with their new orders reaching US$4.2 billion for 72 ships in the first six months of the year.
In the January-June period, Samsung Heavy Industries (SHI) won $4.8 billion worth of orders to build 13 ships, including two offshore plants.
The troubled shipyard Daewoo Shipbuilding & Marine Engineering (DSME) clinched $770 million worth of new orders to build seven ships in the first half of the year.
The report quoted earlier data which showed that local shipyards clinched 2.83 million compensated gross tons, or 79 ships, in the January-June period, which represents a twofold increase from a year earlier.
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