Korean shipyard shares likely to rebound

By Jhoo Dong-chanShares of the nation's big three shipyards _ Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) _ are expected to bottom out and rebound as they have clinched a series of shipbuilding orders this year.Analysts say they are likely to ink more orders in the fourth quarter to achieve their order goals set at the beginning of the year.According to the Korea Exchange (KRX), shares of DSME rose 5.4 percent to mark a record high in a year on the Oct. 2 session closing. Shares of other two shipbuilders, Hyundai Heavy and Samsung Heavy, also climbed 3.66 percent and 1.85 percent, respectively, whereas the benchmark KOSPI dropped 29.35 points, or 1.25 percent, at the day's closing.Their uptrend was led by foreign investors.Foreigners bought more than 2.2 million DSME shares in September to occupy 9.4 percent for the shipbuilder's total shares. They accounted for 7.5 percent in August. Their rush to Hyundai Heavy and Samsung Heavy shares also resulted in increases of 0.6 percentage points and 0.4 percentage points, respectively. According to multiple data sources, the big three clinched 88 percent of total liquefied natural gas (LNG)-powered carrier orders and 87 percent of very large crude carrier (VLCC) orders between January and August.Experts said the global trend of eco-friendly vessels boosted the big three's surging sales in the period because their recent contracts were centered in building eco-friendly ves....

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