Hyundai Heavy Industries Reveals 29 Ship Orders in 2018

Image Courtesy: HHI

2018 seems to be off to a good start for South Korean shipbuilders as they reveal a strong demand for newbuilds in the first quarter of this year amid market’s accelerating recovery.

Hyundai Heavy Industries (HHI) said last week that the ordering tally so far this year includes orders for 29 ships, worth USD 2 billion.

These include 3 LNG carriers, eight LPG carriers, 10 oil tankers, 6 container vessels and two very large ore carriers.

The latest order reported on Monday, March 6 was for two LNG carriers from an undisclosed European shipowner.

Furthermore, the shipbuilder has raised KRW 1.2 trillion (USD 1.15 billion) from its rights issue.

The net proceeds from the issue will be streamlined to improve the shipbuilder’s financial structure and back investment in technological developments and smart vessels.

The shipbuilder plans to keep its focus on gas carrier market amid the anticipated growth of LNG and LPG volumes coupled with the U.S.’s aggressive energy exports policy and China’s eco-friendly energy consumption campaign.

Hence, the company expects to receive additional orders for large-scale LNG carriers.

Hyundai Heavy Industries Group received orders for a total of 15 LNG carriers, including seven options, last year, achieving a market share of over 40 pct in large-size LNG carriers.

For 2018, the group is targeting an orderbook value of USD 13.2 billion, up from USD 9.9 billion from 2017.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

BlueWeek2018

The BlueWeek2018 will be held on 28-29-30 May in Rotterdam, under the auspices of the Blue Forum…

read more >

Posidonia 2018

Posidonia, the international shipping exhibition, has long been established as one of the major calendar events…

read more >