0419 GMT - HD Korea Shipbuilding & Offshore Engineering's new contract wins could decline this year, partly due to capacity constraints at its unlisted subsidiary HD Hyundai Samho, Nomura analyst Eon Hwang writes in a note. The South Korean intermediate holding company of three Hyundai shipbuilders is forecast to secure 12% fewer contracts in 2025, with HD Hyundai Samho's new orders likely to slump 40% from a year earlier, Hwang says. In a separate note, however, Hwang expects new orders at its listed affiliate, HD Hyundai Heavy Industries, to rise 19% this year. He also expects the holding company's order backlog to rise 2.6% to $73 billion in 2025. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
April 25, 2025 00:19 ET (04:19 GMT)
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