HYUNDAI Heavy Industries Co., the world’s largest shipbuilder, led advances among shipbuilders in South Korea and Singapore on expectations of higher first-quarter profit.

Hyundai Heavy advanced 5.7 percent, the most in a month, to 366,000 won. Its Hyundai Mipo Dockyard Co. unit, the world’s fourth-largest shipyard, climbed 7.1 percent to 226,500 won.

Shipyards are building vessels and offshore facilities at record prices as global economic growth increases demand for fuel and transportation.

Global trade is forecast to expand 6.7 percent this year, according to the International Monetary Fund.

“Higher ship prices mean earnings at shipyards will be very good even with higher raw-material costs,” said Cho In Karp, an analyst at Good Morning Shinhan Securities Co. in Seoul. “Prices have remained firm this year, easing concerns an economic slowdown may result in fewer orders.”

He rates the South Korean shipbuilding industry “overweight.”

The price of a vessel able to carry 6,200 20-foot containers reached $107 million at the end of March from $106.5 million at the end of last year, according to London-based Clarkson Plc., the world’s largest shipbroker. The price of a 300,000-deadweight-ton oil tanker rose to $152 million last month, from $146 million last year.

Samsung Heavy Industries Co., the world’s second-largest shipbuilder, climbed 3 percent to 34,000 won.

Keppel Corp., the world’s largest maker of oil rigs, gained 4.2 percent to S$11.98.

Sembcorp Marine Ltd., the world’s second-largest rig-maker, rose 5.5 percent to S$4.21. Bloomberg

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HYUNDAI Heavy Industries Co., the world’s largest shipbuilder, led advances among shipbuilders in South Korea and Singapore on expectations of higher first-quarter profit.