Hyundai Heavy Industries' shares have fallen considerably this year as prospective new order award is being delayed.
Jeon Jae-cheon, analyst at Daishin Securities, said, "The weak performance is due to slow order inflow and delays in expected giant offshore project."
"The company attained just 28% ($8.7bn, estimated) of its annual order target in the entire business sectors in the first half of the year.
"Hyundai's order intake needs to be accelerated to meet the order guideline," he added.
In offshore, market players expect Hyundai to win Carigali Hess gas production facility worth around $400m and Aasta-Hansteen spar substructure worth $300m or so during July-August.
The much touted Nigeria Egina FPSO worth around $2bn is to be finalized as late as in the fourth quarter, he added.
Published : July 19, 2012