Hyundai Mipo Dockyard Co., the world's fourth-largest shipyard, said Wednesday that it received a 228 billion won (US$245 million) order to build five petroleum carriers for a European company. The company will build the vessels by January 2011, it said in a regulatory filing. The shipyard declined to disclose the European company's name due to a confidentiality agreement.
Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries Co. are two subsidiaries of Hyundai Heavy Industries Co., the world's largest shipbuilder. Hyundai Mipo said it has won a total of $2.93 billion worth of shipbuilding orders so far this year.
South Korea, home to seven of the world's top 10 shipyards, clinched record-high orders last year because of strong demand for crude carriers and offshore exploration equipment amid lofty oil prices.
South Korean shipyards are expected to see their exports rise 18 percent to $26 billion this year on the back of continuous demand for high-end ships and other products.
Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries Co. are two subsidiaries of Hyundai Heavy Industries Co., the world's largest shipbuilder. Hyundai Mipo said it has won a total of $2.93 billion worth of shipbuilding orders so far this year.
South Korea, home to seven of the world's top 10 shipyards, clinched record-high orders last year because of strong demand for crude carriers and offshore exploration equipment amid lofty oil prices.
South Korean shipyards are expected to see their exports rise 18 percent to $26 billion this year on the back of continuous demand for high-end ships and other products.