Hyundai Newbuild Orders Fall

26 October 2009 (Last Updated October 26th, 2009 18:30)

Hyundai Heavy Industries booked newbuild orders amounting to $7.47bn between January and September 2009, a 72% fall in orders compared to the same period a year ago. The only newbuild contract came in July when the Korean Coast Guard ordered five patrol boats, the company told its invest

Hyundai Heavy Industries booked newbuild orders amounting to $7.47bn between January and September 2009, a 72% fall in orders compared to the same period a year ago.

The only newbuild contract came in July when the Korean Coast Guard ordered five patrol boats, the company told its investors.

The $120m contract was signed with the Korea Marine Fund Corporation.

The South Korean company has not won a commercial ship contract from foreign clients since 1 October 2008, while Maersk Line in Denmark signed four 4,500t containerships worth $91m each.