Hyundai Mipo Wins Six

Despite reported – 9.2% operating margin in 4Q13, Korean shipbuilder Hyundai Mipo Dockyard Co., Ltd. (HMD) is continuing to win new shipbuilding orders from overseas shipowners.

The latest order, announced today on the Korea Exchange, comes from a Marshall Islands-based owner and is for six Product Carriers (PCs).

According to the filing, the six PCs will cost around $212.5 million. Delivery of the vessels is slated for 2016.

One of the leading financial services firms, the J.P. Morgan expects historically high delivery of 96 ships that HMD is set to deliver in 2014E, up from 74 in 2013 (including its subsidiary in Vietnam).

[mappress]
SBT Staff, February 7, 2014