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Hyundai Heavy seeks to win US$15.9 bln worth of deals in 2019

All News 10:23 January 03, 2019

SEOUL, Jan. 3 (Yonhap) -- South Korea's Hyundai Heavy Industries Group said Thursday its three arms are seeking to secure combined deals worth US$15.9 billion this year in the shipbuilding segment.

The combined target of Hyundai Heavy Industries Co., Hyundai Samho Heavy and Hyundai Mipo Dockyard Co. marks a 20.7 percent rise from last year's goal of $13.2 billion. The three players won $13.7 billion worth of deals in 2018.

Hyundai Heavy Industries vowed to win deals worth $8 billion in the shipbuilding segment, followed by Hyundai Samho Heavy and Hyundai Mipo Dockyard with $4.3 billion and $3.5 billion, respectively.

The co-CEOs of Hyundai Heavy Industries said the company will continue making efforts to cut production costs to maintain profitability and return to profit this year.

"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.

Hyundai Heavy Industries added it will seek to cut production costs by adopting the latest technologies to improve productivity, purchasing materials under detailed plans and speeding up construction time.


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