HHI delivers most ships in January

Hyundai Heavy Delivers Most Ships in January

Hyundai Heavy Industries Co., the world's largest shipbuilder, said Monday that it delivered 11 vessels in January, more than any other company in the global shipbuilding industry, and expects to deliver more vessels this year.

The vessels delivered by Hyundai Heavy include six container vessels and two liquid natural gas (LNG) carriers. The South Korean shipbuilder delivered 81 vessels valued at US$6.85 billion last year, compared with 73 worth US$4.81 billion in 2006.

This year, Hyundai Heavy plans to deliver 134 ships. Hyundai Heavy won orders valued at US$24.6 billion to build 208 ships in the first eleven months of last year, the first time for a shipbuilder to acquire orders of such value in less than a year.

The company expects to win US$27.4 billion worth of orders this year. Shipyards in South Korea, the world's largest shipbuilding nation, have received record orders in recent years as demand has surged for vessels to transport raw materials to China and goods to the rest of the world. The shipbuilders have enough orders to keep them busy for about four years.

To meet rising shipbuilding orders, Hyundai Heavy is building two more docks. Shares of Hyundai Heavy were trading at 346,000 won as of 10:32 a.m., down 3.35 per cent.

www.TurkishMaritime.Com.tr