Hyundai Heavy secures $1.4 billion in orders this year

Hyundai Heavy Industries, a major Korean shipbuilder, said Wednesday that it has so far clinched new orders worth $1.4 billion to build 15 ships this year, including 13 oil tankers.

In a regulatory filing, the shipbuilder said it secured orders worth $420 million to build five ships in April alone.

Hyundai Heavy said the combined orders, including those received by its two affiliates - Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard - have reached $2.3 billion, totaling 39 ships, in 2017, the largest since 2014.

The four-month tally compares with $500 million, or eight ships secured, a year earlier, it said.

Last year, the shipbuilder and its two affiliates clinched a combined $5.9 billion to build 64 ships.

Hyundai Heavy also said it is set to win more orders this month. YONHAP