Japanese investment bank Nomura has taken a more upbeat stance on Korea Shipbuilding & Offshore Engineering (KSOE) on the back of its strong start to 2021.
The world’s largest shipbuilder, a unit of Hyundai Heavy Industries Group, has already booked orders for 46 ships worth $3.7bn in the year-to-date — some 25% of this year’s order target.
“We now believe KSOE’s 2021 order inflows could be higher than the company guidance and our previous estimate,” said analyst Jaehyung Choi in a note to investors.
