Hyundai sets ambitious order target

Hyundai Heavy Industries aims to win $21.1 billion worth of orders this year, down 33% from last year’s figure. Last year, the shipbuilder clinched orders valued at a record $28.2 billion, up 12.77% from $25 billion a year earlier, mainly thanks to rising demand for high-value ships.

It is unclear, however, whether the shipbuilder will be able to achieve the target since the company has not received a single shipbuilding orders since October last year. Hyundai Heavy also said it would post 22.88 trillion won ($15.37 billion) in sales this year, compared with last year’s 19.96 trillion won. It also plans to invest 1.43 trillion won for facility upgrade and expansion.