Korean yard optimistic, more orders expected

South Korean yard HJ Shipbuilding & Construction said it is optimistic about its financial prospects, with more shipbuilding orders expected. Material costs have also stabilised after sharp rises in the previous year, the yard said in a statement. The shipbuilding sector's order book currently totals some WON 7 trillion (USD 5.41 billion), equivalent to about 4 years' worth of construction work. “The upward trend continues,” it said. The company has won various orders, including for naval vessels, environmentally friendly container ships, and gas carriers. It is expecting more demand for environmentally friendly ships. “We are entering the era of zero carbon emissions, and we expect demand,” it said.