Hyundai Heavy wins $1.4b container ship order
Published : 2013-08-30 20:57
Updated : 2013-08-30 20:57
Hyundai Heavy Industries, the world’s largest shipbuilder, on Friday signed a $1.4 billion contract with a United Arab Emirates company to build 10 mega-sized container ships, officials said.
The order, which was signed in Dubai on Friday, involves the construction of 10 container ships, among which five are to be in 18,000 TEU, or 20-foot equivalent unit, sizes.
The ships, once completed, will be delivered to the United Arab Shipping Company consecutively, starting from the end of next year.
“With this order, we have achieved 82 percent of our yearly target of $23.8 billion,” said a company official.
“We also expect additional orders in the future as the contract says that the shipowner may order seven more, including one in the 18,000 TEU level.”
HHI became the leading player in the mega-sized container ship market by winning a first-ever order to build a 10,000 TEU container ship in 2005.
It also signed a contract with a Chinese customer this May to build five container ships of 18,400 TEU, the largest in the world.