A South Korea-based shipping analyst has said that the lack of new orders will continue at Hyundai Heavy Industries following its quiet first half of 2009. “A dearth of fresh orders at Hyundai will continue throughout the year,” said GoodMorning Shinhan Securities analyst Jo In-gab in Vinamaso.
“The world’s number one shipbuilder is taking a far-sighted view regarding order receipt at present for a reason,” he said. He explained that the shipyard could slash prices to compete with other yards to win contracts, however, this would risk the yard’s future profit figures.