Hyundai Heavy Steel-Plate Use to Rise on Ship Output

Hyundai Heavy Industries Co., the world’s biggest buyer of steel plate, plans to increase use of the material 14 percent this year to the most since 2008 as it boosts production of container vessels and oil tankers.

The world’s largest shipyard and affiliates expect to use 4 million metric tons of plate in 2011, compared with about 3.5 million tons last year, Kim Ki Young, a spokesman, said by phone yesterday. Consumption among the world’s six largest yards, all based in South Korea, will rise 12 percent to 8 million tons, based on company figures.