Hyundai Mipo Dockyard of Korea is said to be differentiated as a builder with stable contracts in the global crisis.  

Sung Ki-Jong, an analyst at Daewoo Securities, has said, “Hyundai is considering a rise of newbuilding price, backed by its enough orderbook.” “The company is diversifying its range of vessels into PC, LPG carriers, PCTC, special ships and Offshore Supply Vessels, which are more competitive, and its new order target for this year is $3.2bn, up from $2.96bn in 2012.”

Sung has analyzed, “The Korean-based builder is more glowing as the shipbuilding industry goes through a hard time. Its poor performance is said to be unavoidable but compared to other companies within the same field, it has been underestimated when considering its differentiation and asset value.”

He added, “Including Hyundai Mipo, major shipbuilders seem less likely to see another risks of shockingly poor performance.” “Their average performance during the fourth quarter of last year was lowest against market consensus; this is because of a big provision of appropriation fund, with a fall in productivity and profitability decrease affected by a fall in shipbuilding prices.”

He also mentioned about the company’s trade receivable that it sharply increased during the last third quarter but came back to normal as the average level of fourth quarter. The uncertainty over an upcoming performance has been greatly relieved through the provision of appropriation fund for weak vessels.