Record levels for Korean yards in 1st quarter

The Korean shipyards secured a record-high order intake in the first quarter, for a total of USD 12 billion, according to Asiasis.

Photo: Eric Jakobsson

Things looked good for the Korean yards in the first quarter of 2014, as the shipyards secured orders for a combined USD 12 billion on ships and offshore vessels, reports Asiasis.

The major yard conglomerates were the primary drivers behind the order intake. Hyundai Heavy Industries - HHI - which has Hyundai Samho Heavy Industries as one of its subsidiaries, sealed orders for a total USD 5.5 billion alone. This development bodes well for the company's target, which is to land orders for USD 20.05 billion in 2014. The HHI orders consisted mainly of VLGC's, VLCC's, the ultra large container ships, and offshore vessels.

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