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Korea Shipbuilding & Marine EngineeringIs an intermediate holding company in the shipbuilding division of Hyundai Heavy Industries Group. Under Hyundai Heavy Industries Group, former FIFA Vice Chairman Chung Mong-joon has shipbuilding companies such as Hyundai Heavy Industries, Hyundai Mipo Shipbuilding and Hyundai Samho Heavy Industries, and energy and machinery companies such as Hyundai Oilbank and Hyundai Construction Equipment. Shipbuilding companies are collectively referred to as Korea Shipbuilding & Marine Engineering, while the rest of the companies are collectively referred to as Hyundai Heavy Industries Holdings. (Apart from this, Hyundai Mipo Shipbuilding and Hyundai Construction Equipment are listed separately.)
Ulsan Hyundai Heavy Industries Shipyard. Photo by Seongbin Lim
· Shipbuilding industry recovery, rising ship prices due to increased demand for container ships
· Continued winning orders from three domestic shipbuilders since the end of last year, announced new hydrogen business
· Daewoo Shipbuilding & Marine Engineering Combined Review, Key Subsidiary Hyundai Heavy Industries Listing Variable
If you are interested in the domestic stock market these days, you will know HMM (formerly Hyundai Merchant Marine). In March last year, it was 2,500 won, but it went up to 30,000 won a while ago, and it became a sport to go away from Tesla. (Refer to ANTSLab’s newsletter on March 10th). HMM’s steep rise is due to the surge in freight rates for container ships. As the demand for container ships increases, shipping companies are ordering more ships, and eventually the ship price (the price of the ship) is also rising. It’s good for shipbuilding companies like Korea Shipbuilding & Marine Engineering.
Clarkson’s shipbuilding index, a UK shipbuilding and shipping agency, has risen for 10 consecutive weeks this year, reaching 130 points for the first time since August 2019. The 10th consecutive week’s rise is said to be uncommon. As the corona subsides and the economy improves in the future, ship prices are expected to continue rising for the time being. As it is certain that the economy will improve in the future, and ship prices have not yet skyrocketed, shipping orders from shipping companies and other ship owners (ship owners) are expected to continue.
Not surprisingly, Samsung Heavy Industries recently won orders for 20 container ships from Taiwan’s shipping company Evergreen. It is said to be the largest single contract ever. I was expecting that the orders would be distributed to Chinese and Japanese shipbuilders, but all 20 ships were ordered from Samsung Heavy Industries. It costs 100 to 200 billion won per ship, so please calculate it @@.
Ulsan Hyundai Heavy Industries Dock. Photos Hyundai Heavy Industries
Korea Offshore & Shipbuilding also announced that it has won orders for 5 container ships from Taiwan’s Wanhai Line, and on April 1, it has also received orders for 7 ships, including 3 LPG ships. Last year, three Korean shipbuilding companies (Korea Shipbuilding & Marine Engineering, Samsung Heavy Industries, and Daewoo Shipbuilding & Marine Engineering) won a slot contract for 100 Qatar LNG carriers (steaming a dock in advance to make a new ship). This is expected to lead to the main contract sooner or later.
Korean shipbuilders boast world-class technology and production capabilities. It is not’gukpong’. Even an official from Japan’s No. 1 Imabari Shipbuilding said in a recent interview with the Japan Economic Daily, “I visited shipyards in Europe, China and Korea, and Korea was the most efficient.”
Chinese shipyards often outperform Korea in terms of order wins, but it is common for quality problems to occur too often and not to meet the delivery date due to lack of technology. The Japanese shipbuilding industry has a long time since the production facilities are old and the industry itself has gone down a path of decline. This is the reason that Korean shipbuilders, especially’Daejangju’, are expected to show good performance in the order competition this year.
The shipbuilding companies of the Hyundai Heavy Industries Group are’Korea Shipbuilding & Marine Engineering’, and the rest of the companies are’Hyundai Heavy Industries Holdings’. The picture is Jeong Seung-Hyun, Lee Cheong-Yong, and Cho Hyun-Woo from Hyundai Ulsan of the professional soccer team. Photo Hyundai Oilbank
Factors such as digital innovation and hydrogen value chain construction that Korea Shipbuilding & Marine Engineering recently revealed at its shareholders’ meeting are also future strategies that help stock prices and ESG.
However, the EU’s business combination review is scheduled until June, and depending on the results, the acquisition of Daewoo Shipbuilding & Marine Engineering and a paid-in capital increase to improve the financial structure of Daewoo Shipbuilding & Marine Engineering is likely to proceed. In addition, the subsidiary, Hyundai Heavy Industries, announced plans to be listed separately within this year. In this case, Hyundai Heavy Industries’ IPOs will attract people and Korea Offshore & Shipbuilding, which lacks its core subsidiaries, may seem less attractive.
Ulsan University Gymnasium, where the 2019 General Shareholders’ Meeting of Hyundai Heavy Industries was held. The labor-management conflict against the division of the Hyundai Heavy Industries company became a mess. Reporter Song Bong-geun
In addition, the order news itself is important because it takes more than two years to build and deliver a ship after receiving an order, but it is also important to look closely at how it actually contributes to the performance.
In conclusion, after 6 months:
All~ It’s good, but some measures related to Hyundai Heavy Industries’ IPO… by. Ants Lab
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