HD Hyundai may nearly double shipbuilding capacity in Vietnam

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HD Hyundai Co., the world’s second-largest shipbuilder, is likely to nearly double its vessel construction capacity in Vietnam to meet the surging demand.HD Hyundai Mipo Co., a shipbuilding unit of the South Korean shipbuilding and machinery conglomerate, on Thursday unveiled a plan to raise the capacity of the shipyard in Vietnam to 15 vessels a year from the current 12 units.

SHIP PRICES TO REBOUNDHD Korea Shipbuilding & Offshore Engineering Co.(HD KSOE), HD Hyundai’s intermediate holding firm for the group’s shipbuilders including HD Hyundai Mipo, expected vessel prices to rebound, saying that the recent setback was short-lived.

HD Hyundai Mipo is also considering further expansion of the capacity to 23 vessels a year, which may require new docks, by 2030 to win orders to build oil tankers and other ships, for which it competes with Chinese rivals.

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Article Details

Category: Economy

Markets: South KoreaVietnam

Topics: Demand Capacity Mipo Year Ksoe Global Company Korean Hyundai Shipbuilding Vietnam

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 19:50:45 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 360 words

Reading Time: 2 minutes read

Sentences: 19 lines

Sentence Length: 19 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 23347847

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