Most of Korean large shipbuilders achieved their yearly order targets based on relatively improved market demands and differentiated technology skills.

Hyundai Heavy Industries already outpaced its annual aim in October in its Shipbuilding and Offshore & Engineering Divisions. The Shipbuilding Division inked $9.131bn new orders as of November, achieving 118% of its aim of $7.75bn while Offshore & Engineering Division achieved 108% of its $6bn annual aim with signing $6.45bn contracts.

Daewoo Shipbuilding & Marine Engineering reached 100% of its annual target, $13bn, having inked large tankers and containerships successively on December 13 and 16. Compared to last year’s commercial ship orders for nine units worth $1.35bn, it could win greatly increased commercial vessel orders for 42 units worth $4.2bn while signing large contracts for offshore plant ($8.1bn) following last year’s $10.5bn orders.

Recently having penned new orders for LNG-FSRU and PC, Samsung Heavy Industries is closely approaching its annual aim, $13bn, with reaching 97% with $12.6bn new contracts.

Hyundai Samho Heavy Industries also surpassed its yearly aim of $4.5bn, $4bn in shipbuilding and $500m in industrial facility, with signing $4.969bn contracts in this year till November.

Hyundai Mipo Dockyard, as well, already outpaced its aim in October and recorded $2.6bn more orders than its annual aim of $3.2bn as it has bagged $5.8bn orders including the latest contract.

This year’s shipbuilding industry has shown great recovery in new orders as eco-friendly and high-efficiency Eco-ship demands grow while newbuilding prices hit the bottom and rebound.

Prospects for market in 2014 is uncertain however shipbuilding industry is expected to see as much demands as this year’s that builders are likely to focus on selective new orders with profitability while approaching offshore plant area strategically, where relatively further business opportunities are emerging, by carrying out aggressive newbuilding activities.