Hyundai Heavy Wins US$837 MLN Order for 9 Oil Tankers

Hyundai Heavy Industries Co., the world's largest shipyard, said yesterday that it has won a 852-billion-won (US$837 million) deal to build nine oil tankers. The deal with a European shipping company calls on Hyundai Heavy Industries to deliver the vessels by March 2012, the company said in a regulatory filing. Shares of Hyundai Heavy Industries were trading at 389,000 won on the Seoul bourse as of 10:44 a.m., up 1.57 percent. Shipyards in South Korea, the world's largest shipbuilding nation, have received record orders in recent years as demand has surged for vessels to transport raw materials to China and goods to the rest of the world.

Source: Yonhap