The shipbuilding orderbook value for the first half of this year of South Korean shipbuilding major Hyundai Heavy Industries (HHI) totaled in USD 1.65 billion, up by 67 percent when compared to last year’s figures.
HHI said in its interim report for the first six months of this year that the group’s new orders amounted to USD 2.25 billion, up by 15.9 percent year-on-year.
The company’s offshore and engineering arm saw a 66.6 percent decline in orderbook value reaching USD 139 million.
HHI’s industrial plant branch was hit the hardest with 83 percent decline y-o-y standing at USD 11 million against USD 65 million from the corresponding period last year.
Hyundai’s engine and machinery business had a similar performance when compared to last year’s figures earning USD 446 million against last year’s USD 470 million, down by 5.1 percent.
Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.