Hyundai Mipo to win more orders

Hyundai Mipo to win more orders

Hyundai Mipo Dockyard will receive increasing orders, said eBEST Investment and Securities on Nov. 7 maintaining a “buy” recommendation and 130,000 won (US$115.80) target price.

It has won orders for 25 vessels in the third quarter alone, totaling 60 vessels worth US$2 billion this year. Demand for small- and medium-sized ships will grow sharply increasing its order amount. It is likely to win orders worth US$1 billion in the fourth quarter, for a variety of ships including crude oil product carriers and containers, said analyst Yang Hyeong-mo.

Its new orders next year are likely to surpass US$5 billion, and the backlog orders will rise to US$4.8 billion this year and US$5.8 billion next, forecast Yang.

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