Huge demand for new ships saw Hyundai Heavy Industries, the world's largest shipbuilder, reporting a record quarterly profit.

Robust China trade is keeping the world's trade lanes busy and the Korean yards have full order books stretching past the end of the decade.

The combined market share of the three main Korean yards - Hyundai, Samsung and Daewoo - is around 40 percent, and despite strong competition from Japanese shipbuilders, yundi, Samung and Daewoo - is about 40 percent South Korea is solid in first place.

Net profit at Hyundai more than doubled to $448 million in the April-June quarter, with operating profit up 146 percent and sales up 30 percent.

China's yards are also busy, with the Korean owned STX Shipbuilding last week receiving a $1.4 billion order for nine vessels of 12,400 TEUs from a Greek owner.