Shipbuilders eye double-digit growth

2013_01_shipbuildingDespite the continued slump in shipbuilding orders overseas affected by the prolonged global economic downturn, the nation’s top three shipbuilders have set bold goals for winning orders in the beginning of the year, renewing their growth strategy, industry sources said.

Hyundai Heavy Industries, the world’s largest shipbuilder, said it increased its order target steeply by 52.3 percent to $29.7 billion this year compared with order results in 2012. The other two shipbuilders also unveiled double-digit order goals this year. Daewoo Shipbuilding & Marine Engineering, or DSME, pushed up its order target by 18 percent to $13 billion from orders registered in 2012. Samsung Heavy Industries also set its order goal at $13 billion, a 35 percent rise from orders won in 2012.

Among the top three shipbuilders, Hyundai Heavy presented the most aggressive order goal this year in a bid to recover from a poorer performance than competitors in its shipbuilding and offshore business. The company achieved only 63 percent of the 2012 annual order target of $30.6 billion by winning $19.5 billion in orders.

For full article, see Korea Herald.