Hyundai Heavy Industries' shipbuilding and marine business is sailing smoothly.
2013-08-27 09:00
Hyundai Heavy Industries of South Korea publicly stated that as of July this year, its cumulative order backlog reached US\$16.08 billion, a year-on-year increase of 47%, already 54% of its annual order target of US\$29.676 billion.
By business segment, the shipbuilding sector received US\$5.887 billion in orders, a year-on-year increase of 35%; the offshore sector received US\$5.452 billion in orders, a significant year-on-year increase of 338%.
In particular, Hyundai Heavy Industries has completed 76% of its US\$7.75 billion annual target in shipbuilding and 91% of its US\$6 billion annual target in the offshore sector.
As of July this year, Hyundai Heavy Industries received orders for a total of 56 vessels. By vessel type, these include 20 container ships, 14 LPG carriers, 8 bulk carriers, 5 tankers, 4 specialized vessels, 2 LNG carriers, 2 other vessels, and 1 semi-submersible drilling rig.
As of the end of July, the company's backlog totaled 132 vessels and US\$21.661 billion. By value, drilling ships accounted for 31%, followed by container ships, LNG carriers, LPG carriers, and semi-submersible drilling rigs, accounting for 20%, 18%, 7%, and 6%, respectively.
As of July, new orders for offshore projects totaled 6 floating and fixed production projects. As of the end of July, the backlog included 22 floating and fixed production projects and 2 subsea pipeline projects, totaling US\$19.839 billion.
In addition, as of July, Hyundai Mipo Dockyard's cumulative order backlog was US\$2.832 billion.
Furthermore, as of July, Hyundai Heavy Industries' sales amounted to KRW 1,871.5 billion (approximately US\$1.68 billion), down 8% year-on-year. As of July, Hyundai Heavy Industries' cumulative sales were KRW 14,143.2 billion, down 0.24% year-on-year.
By business segment, sales in the shipbuilding sector amounted to KRW 605.3 billion as of July, and KRW 270.6 billion in the offshore sector. The total sales of these two sectors amounted to KRW 875.9 billion, accounting for 62% of total sales.
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