Posidonia windfall for Korean yards

Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME) have won a combined $4.9 billion worth of deals in the past week to build 30 vessels, including oil tankers and bulk carriers. During Posidonia, HHI received deals valued at $2.4 billion to build 22 ships, including 16 oil tankers. So far this year, the shipyard has won orders worth $12.3 billion to build 94 vessels, up 37% from a year earlier. DSME won $2.5 billion of orders in the past week to build 8 vessels that can carry oil and commodities as well as drill for crude. Daewoo has received $5.6 billion worth of orders this year, achieving about a third of this year’s target of $17.5 billion. Its backlog reached $41.5 billion.