Hyundai Mipo Dockyard Wins US$291 MLN Orders for 7 Bulk Carriers

South Korean shipbuilder Hyundai Mipo Dockyard Co. said Thursday it has clinched orders worth 302.3 billion won (US$291.6 million) to build seven bulk carriers. Under the deal signed with a Middle Eastern shipping company, Hyundai Mipo Dockyard will deliver the vessels by May 2012, the shipyard said in a regulatory filing. Hyundai Mipo Dockyard is a unit of Hyundai Heavy Industries Co. (KSE:009540), the world's No. 1 shipbuilding company. Shipyards in South Korea, the world's larges shipbuilding nation, are expanding their capacity to build more vessels as their order backlogs stretch into 2012.

Source: Yonhap