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Samsung targets $ 7.8 billion in new orders

Seoul - Samsung Heavy Industries, a major shipyard in South Korea, said Thursday that it is aiming to clinch 7.8 billion dollars worth of new orders this year. The figure marks a 24 percent hike from last year’s tally

Seoul - Samsung Heavy Industries, a major shipyard in South Korea, said Thursday that it is aiming to clinch US$7.8 billion worth of new orders this year. The figure marks a 24 percent hike from last year’s tally.

The shipyard also aims to post $6.4 billion in sales this year, up 29 percent from last year, it said in a regulatory filing. Samsung Heavy secured some $6 billion worth of new orders last year, lower than its initial target of $8.2 billion. Samsung Heavy said demand for commercial vessels will continue to remain firm and orders for offshore facilities will come in as well.

Earlier, its local rival Hyundai Heavy Industries, the world’s largest shipyard, said it will seek to win $8 billion in new shipbuilding orders in 2019.

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