Hyundai Mipo Bags Order for Four Chemical Tankers from Kuwait

Hyundai Mipo Dockyard, a subsidiary of Hyundai Heavy Industries, has acquired a $250 million order to construct four chemical tankers for Kuwait, reports France 24.

The contract was signed on Tuesday in Kuwait under which it was stated that Hyundai Mipo will deliver the four tankers to the state-run Kuwait Oil Tanker Company by August 2014.

Although the world’s shipping industry is now undergoing a global economic crises, Hyundai Mipo stated it has already received orders for eight vessels worth more than $400 million in total this year and it is eager to obtain orders worth $3.2 billion this year, up 80% compared to 2011.

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World Maritime News Staff, February 29, 2012