Three shipyards under Hyundai Heavy Industries Group have already secured orders exceeding over half of their annual target.

The group said Thursday that Hyundai Heavy Industries, Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard clinched orders to build 20 vessels worth one-point-three billion U.S. dollars in the month of May alone.

When options are counted, May orders jump to as many as 29 vessels or one-point-nine billion dollars.

During the January-May period, the group has accumulated a combined three-point-eight billion dollars of orders to build 62 ships, which is more than five times the amount secured during the same period last year in terms of the number of vessels.