Seoul: A bullish report out from Seoul paints a firm picture of another decent year ahead for the largest shipyard in the Philippines. Hanjin Heavy Industries & Construction’s Subic Shipyard will enjoy plenty of orders this year according to a report out this week by analyst Kim Hyun at Shinhan Investment.
“Subic Shipyard, major production base of Hanjin’s shipbuilding division, is expected to show official revenue growth this year in line with favourable order performance seen last year,” Kim wrote, adding: “New orders will continued to be signed focusing on large-sized vessels.”
In 2013, Hanjin’s Subic Shipyard recorded $2bn in new orders in total for 26 containerships and eight LPG carriers, smashing its $1.2bn annual target.
Kim noted, “Subic Shipyard is aiming at over $1.7bn in new orders for this year, and is expected to focus on large-size vessels for its large dry docks, such as ultra large containerships, very large crude carriers and so on.”
Hanjin’s Subic Shipyard is one of the largest yards in the world in terms of area size. [23/01/14]