HHI hopes for better

Hyundai Heavy Industries is hoping it can continue a rebound in newbuilding orders into 2014.
Hyundai Heavy: looking for higher prices.

Hyundai Heavy: Looking for more orders.

The world’s largest shipbuilder has set its sights on contracts worth $29.6bn this year, it announced today.

It follows a 39% rise in orders to $27.3bn in 2013, as Korea’s big three years hauled in deals worth $52bn – a six-year high.

According to Clarksons, HHI has 119 newbuildings in its catalogue, including VLCCs for Metrostar and DHT and VLGCs for BW LPG.

Shares in the shipbuilder were trading down 1.36% at KRW 253,500 ($238) each today.

  • Trio haul in $52bn

    South Korea’s top three shipbuilders have reported combined orders totalling $52bn for 2013.
  • Grand design

    Hyundai Heavy Industries has teamed up with its two major shipbuilding subsidiaries to form a new ship design venture, it announced today.
  • HMM looks to lift box rates

    Hyundai Merchant Marine (HMM) plans to try to raise container freight rates on both main east-west routes from Asia in January.
  • Mipo trumping rivals

    BP Shipping’s huge products tanker order at Hyundai Mipo marks a 30% rise in newbuilding prices this year and has set the yard 12 months ahead of its peers on the road to recovery, JP Morgan says.