Hyundai Mipo Dockyard Wins Shipbuilding Orders over $1.2 Billion in 2010

South Korea’s Hyundai Mipo Dockyard Co., one of leading shipbuilders in the sectors of medium-sized conventional ships and specialized vessels, is found to have been awarded shipbuilding orders over $1.2 billion in 2010. Hyundai Mipo announced Thursday that its shipbuilding orders exceeded $ 1.25 billion by receiving a total of 40 vessel orders including 29 bulk carriers and six units of product and chemical tankers from ship owners in Greece, Germany and Japan.
Thanks to such outstanding performances, the company achieved 54% of the goal that it initially planed for this year. The remaining ship orders stand at 228 units worth $11.1 billion, the amount of ships which the company can work on for the next three years.
Hyundai Mipo Dockyard attributed the recent surge of shipbuilding orders to the increase in bulk cargo volumes fueled by the price hike of iron ore and the rise of shipbuilding orders for medium-sized bulk carriers.