2006-11-09 11:33
HHI profits higher in third quarter
Hyundai Heavy Industries Co., Ltd.(HHI) revealed its quarterly result in the third quarter of 2006.
HHI reported sales revenues of 3.14trillion won, up 22percent from the same period of last year with a net profit of 201.9billion won, up 20.75percent from the same period of 2005.
This result seems due to recent increases of orders for oil carriers, cargo ships and LNG(Liquid Natural Gas) tankers.
Currently, including Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering(DSME), many Asian shipyards are benefiting from increased investment in fuel production and transportation, as demand for oil increases worldwide.
Korean shipyards have a backlog of orders that will keep them busy for more than three years.
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