A significant rise on vessel orders is expected in South Korean shipyards, during the second half of 2017, according to industry sources, as numerous contracts are to be signed soon.
Specifically, Hyundai Heavy and its subsidiaries (Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co.) have secured new orders of US$4.2 billion for 72 ships in the first six months of the year, that represents an increase of 13 vessels compared to last year. The company is also expected soon to sign deals of $2.7 billion total worth.
At the same time, Samsung Heavy Industries Co. won orders of $4.8 billion, to build 13 ships, including two offshore plants. The company has also signed a Letter of Intent with SeaOne, to construct 12 articulated tug barges.
Further, Daewoo Shipbuilding & Marine Engineering Co. clinched $770 million worth of new orders to build seven ships in the first half of the year. In addition, the company has secured a deal with Greek Maran Tankers Management to build four very large crude carriers (VLCCs).
According to earlier data, 79 ships- or 2.83 million compensated gross tons- were secured during the first half of 2017 (January-June), which also represents a rise from previous year, Yonhap news reports.