April 24, 2024
Industrials
HHI seeks more shipbuilding deals
[THE INVESTOR] Hyundai Heavy Industries is in talks with at least two overseas shipping firms to build a slew of very large crude carriers, the combined value of which may reach up to US$1 billion, industry sources said on March 13.
According to the sources, HHI is in negotiations with a Hong Kong-based shipping firm and another firm based in Singapore over the deals to build up to 12 ships, when options are considered.
HHI has clinched deals to build four ships, including two VLCCs, so far this year, raising hopes that its new orders for such ships will steadily increase down the road in tandem with the construction of refining facilities in the Southeast Asian region.
“HHI has been clinching contracts since late last year, and the shipbuilder is set to win more deals down the road,” said Rhyu Jae-hun, an analyst at NH Investment & Securities.
By Alex Lee and newswires (alexlee@heraldcorp.com)
According to the sources, HHI is in negotiations with a Hong Kong-based shipping firm and another firm based in Singapore over the deals to build up to 12 ships, when options are considered.
HHI has clinched deals to build four ships, including two VLCCs, so far this year, raising hopes that its new orders for such ships will steadily increase down the road in tandem with the construction of refining facilities in the Southeast Asian region.
“HHI has been clinching contracts since late last year, and the shipbuilder is set to win more deals down the road,” said Rhyu Jae-hun, an analyst at NH Investment & Securities.
By Alex Lee and newswires (alexlee@heraldcorp.com)
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