One More Nine-Digit Contract for HMD

Despite posting a drop of nearly 14% in revenue for the third quarter, Hyundai Mipo Dockyard (HMD) continues to win more and more newbuild contracts. After last week’s 16 product carriers, the yard has penned another major shipbuilding deal with a European owner.

The contract, announced today in a regulatory filing, is estimated to be worth around $122 million and is for the construction of four product carriers.

The yard didn’t disclose any vessel particulars except that delivery of the vessels is scheduled for early 2016.

Hyundai Mipo Dockyard Co., Ltd. (HMD), one of the world’s biggest, was founded in 1975. The yard entered into newbuilding market in 1996 and has become a global leading shipbuilder specialized in medium-sized vessels of the highest quality.

[mappress]
SBT Staff, November 4, 2013