Korean shipbuilding group Hyundai Heavy Industries (HHI) currently holds the greatest market value of newbuilding contacts on order globally, according to recent analysis conducted by Vessel Values.
HHI is one of the biggest ship construction companies in the world. Its ship manufacturing facility in Ulsan, a South Korean city located on the south-eastern tip of the Korean Peninsula, extends across two and a half miles along the coast of Mipo Bay in Ulsan covering an area of 1,780 acres.
According to the analysis, wherein the top 5 global shipyards were ranked according to their current orderbook values, HHI currently holds newbuilding contracts surmounting to US $24.423m. Korean shipbuilding group Daewoo grasps second place on the ranking, with newbuilding orders to the value of US $19.901m. Then fellow Korean shipbuilder, Samsung, holds fourth place on the ranking with an US $10.469m orderbook value.
China State Shipping Corp holds third place on the ranking with US $15.072m and Japanese shipbuilders Imabari rank fifth with an US $9.894m orderbook.
However, although HHI holds the number one spot on this ranking, they have suffered the largest decline, down by 12%, but fifth-placed Imabari of Japan, enjoyed a 9% increase in the value of its orderbook.
Vessel Values’ Senior Data Editor, Craig Jallal, commented: “The current top five shipbuilding groups have seen a significant decline in value of their orderbooks year-on-year since March 2015. “
