Tuesday, October 16, 2012

[Ship Building] HMD to reach $3.2bn orders

HMD to reach $3.2bn orders

Hyundai Mipo Dockyard is expected to achieve yearly order target this year.

Analyst Jun Jae-Chun of Daishin Securities said "Hyundai Mipo has reached 57% of 2012 order target, having inked a total of $1.83bn (40 vessels) year-to-date."

He said "Hyundai Mipo will be able to win overall $3.2bn in the whole year of 2012, as targeted."

"However, despite a relatively strong orders for product carriers, the shipyard seems difficult to score $3.6bn of targeted revenue."

Meanwhile, the Korean shipbuilder is prospected to see lower proportion of turnover in bulker, while higher in LPG carrier, car carrier, etc.

Also, operating margin of shipbuilding division, on consolidated basis, will increase up to 3.5%, he forecasted.

Published : October 15, 2012

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