HMD secures bumper crop of newbuilding orders

21 May 2010

Hyundai Mipo Dockyard (HMD) has been awarded shipbuilding orders over $1.25 billion in 2010 representing a total of 40 vessel including 29 bulk carriers and six units of product and chemical tankers from ship owners in Greece, Germany and Japan.

This has enabled the company to achieve 54% of the goal that it initially planed for this year. The remaining ship orders stand at 228 units worth $11.1 billion, enough to keep the yard busy for the next three years.

HMD attributed the recent surge of shipbuilding orders to the increase in bulk cargo volumes fueled by the price hike of iron ore and the rise of shipbuilding orders for medium-sized bulk carriers.

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