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.