Hyundai Mipo Dockyard has achieved stronger results in the first quarter due largely to a greater number of newbuilding orders this year. Net profit for the South Korean yard grew by 10.4% to KRW146.8bn ($136.2m) from KRW133bn in the same quarter of 2010. The Seoul-listed firm also improved its revenue by 38.1% to KRW1.21trn compared to KRW876bn a year ago.
During the first quarter, Hyundai Mipo has secured a containership order from Pacific International Lines worth over $250m, and up to six specialised general cargoships from Saudi Arabia's National Shipping Company worth $400m. The Ulsan-based yard plans to deliver 80 ships this year in an attempt to surpass last year's 65.
During the first quarter, Hyundai Mipo has secured a containership order from Pacific International Lines worth over $250m, and up to six specialised general cargoships from Saudi Arabia's National Shipping Company worth $400m. The Ulsan-based yard plans to deliver 80 ships this year in an attempt to surpass last year's 65.