Samsung Heavy targets US$7.8 bln in new orders this year

Samsung Heavy
his photo provided by Samsung Heavy Industries Co. shows one of its liquefied natural gas carriers

Samsung Heavy Industries Co., 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 Co., the world’s largest shipyard, said it will seek to win $8 billion in new shipbuilding orders in 2019.