South Korea's Three Major Shipping Companies Recovering Strong Momentum

- Mar 05, 2018-

South Korea's three major shipping companies recovering strong momentum

Since the beginning of this year, Hyundai Heavy Industries, Hyundai Heavy Industries, Daewoo Shipbuilding and Samsung Heavy Industries continued to grow their orders. Since the beginning of last year, the shipbuilding industry recovered strongly.


According to Korean media reports, Hyundai Heavy Industries in January this year received a total of 14 orders for new ships, the total value of about 800 million US dollars, orders equivalent to about 4 times the same period last year, but also since 2014, Hyundai Heavy Industries January The highest level of orders.glenflange


At the end of January, Hyundai Heavy Industries also received orders for At-Shore LNG (ASLNG), a floating LNG production plant from Steelhead LNG Corp, for a total value of approximately $ 500 million. This is the first order of offshore equipment won by Hyundai Heavy Industries in three years from October 2014.


Daewoo Shipbuilding won a total of about 400 million U.S. dollars in orders for new ships in January this year, including two LNG carriers and one dedicated vessel. Among them, two LNG ship orders from a US ship owner, worth about 370 million US dollars. In addition, Daewoo Shipbuilding plans to deliver 20 LNG carriers this year, the first of its kind worldwide.glenflange


Samsung Heavy Industries also won about 1 trillion won (about 900 million U.S. dollars) of new ship orders in January this year. Recently, Samsung Heavy Industries received eight 12TEU TEU container ships from Evergreen Shipping (orders totaling a total value of about 820 billion won (about $ 738 million).) These new Panamax containers are 334 meters long and 48.4 meters wide and will be launched in 2021 Delivered before May.


In addition, Samsung Heavy Industries recently released a bulletin to change orders, orders in 2018 from 7.7 billion raised to 8.2 billion.