Shipyards Claim 400 Per Cent Increase in Orders So Far This Year

SOUTH KOREA – Hyundai Heavy Industries (HHI) Group has reported a 400% increase in ship orders for the year so far as, despite existing clouds over the sector, not least the latest news concerning the German group Rickmers, there has seemingly been an upturn in trade. Between January and May, HHI and its two affiliates, Hyundai Samho Heavy Industries (HSHI) and Hyundai Mipo Dockyard (HMD) have won 62 shipbuilding contracts worth $3.8 billion, a 416% jump compared to the same period last year when the group clinched 12 ships worth $1 billion.

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