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Korea's big three yards moderate 2007 sales targets

Korea's big three yards moderate 2007 sales targets

Seoul: Orders are set to slightly decline at the world's leading three shipyards as well as prices. The Korean triumvirate of Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering collectively estimate sales of US$36bn this year, down from the record breaking $37.4bn notched last year. HHI, the world leader. Expects orders of $13bn, compared to the $14.1bn achieved last year. DSME has set a target of $11bn in orders this year, unchanged from last year's figure. The company has a backlog of around $22 billion. SHI, the world's third-biggest shipyard (pictured), meanwhile also lowered this year's target to $11bn from last year's $12.3bn. South Korean yards accounted for nearly 50% of all ship orders placed last year in a banner year for shipbuilding with total global orders surpassing $100bn.  [08/01/07]

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