HHIs Shipbuilding Orders Up by 67 Pct in H1

HHI South Korean shipbuilding major Hyundai Heavy Industries (HHI) order book value for shipbuilding business stood at USD 1.6 billion at the end of June 2017, up by 67 % when compared to last year. HHI said in its interim report for the first six months of this year that the groups new orders amounted to USD 2.25 billion, up by 15.9 percent year-on-year. The companys offshore and engineering arm saw a 66.6 percent decline in order book value reaching USD 139 million. The companys industrial plan branch was hit the hardest with 83 percent decline y-o-y standing at USD 11 million against 65 million from the corresponding period last year. HHIs engine and machinery business had a similar performance when compared to last years figures earning USD 446 million against last years USD 470 million, down by 5.1 percent. World Maritime News Staff