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New Orders for Hyundai


South Korea shipbuilder, Hyundai Heavy Industries Co said it expected to book $7.3 billion in new orders in 1999 and $8.4 billion in 2000.

"To September of this year we have already booked $6 billion of new orders," Cho Choong Hooy, HHI president and chief executive said in a presentation to investors in Hong Kong.

HHI, the shipbuilding arm of the giant Hyundai Group, had new orders worth $5.2 billion in 1998, he said. Cho said new ship prices had been buoyant after hitting bottom in the first half of 1999.

"We expect price increases to be steady," said Cho.

More information: HHI


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