UPDATE 1-Hyundai Heavy Q4 beats fcast, sees drop in orders


(Adds details) By Shin Jieun and Rhee So-eui SEOUL, Jan 29 (Reuters) - Hyundai Heavy Industries Co Ltd , the world's largest shipbuilder, reported on Thursday better-than-expected quarterly net profit but expected new orders to drop 23 percent this year due to the global downturn. The shipbuilding industry faces challenges as shipping demand shrinks and new ship orders fall. Order cancellations by shippers struggling under a credit squeeze have hit smaller players such as Chinese ...

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