Two contracts worth $143 million

Maxi order for HYUNDAI

by Port News Editorial Staff

HYUNDAI Mipo Dockyard has secured two maxi contracts for the construction of four Medium Range chemical tankers (50.000 dwt).

The contracts are worth $143 million overall. The identity of the two buyers is not known, only their nationality: one would be Asian, the other European. Deliveries are scheduled for the second half of 2021.

Thanks to these new orders, the company – which is an important part of the shipbuilding giant Korea Shipbuilding & Offshore Engineering, officially known as Hyundai Heavy Industries – can breathe a sigh of relief after months of low productivity due to the economic crisis triggered by the Coronavirus.

The latest available data shows that in the first half of the year HHI signed orders worth a total of $2 billion, down 41.7% compared to the same period last year, achieving only 12.8% of the 2020 target plan.

Translation by Giles Foster

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