JANUARY 3, 2019 — South Korea’s Hyundai Heavy Industries Group has set a 2019 shipbuilding total sales target of US$15.9 billion for Hyundai Heavy Industries Co., Hyundai Samho Heavy and Hyundai Mipo Dockyard Co. According to the Yonhap News Agency, this is a 20.7 percent increase on last year’s target of $13.2 billion. The three shipyards beat that target by booking $13.7 billion worth of orders in 2018.
Yonhap says that this year’s target is set at $8 billion for Hyundai Heavy, $4.3 billion for Hyundai Samho Heavy and $3.5 billion for Hyundai Mipo Dockyard.
“As the supply surplus still exists, the number of new orders for ships is limited. Accordingly, we expect hurdles in increasing the cost of ships,” the company said in a statement.
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