Daewoo Heavy Gets $110 M For Two Ships

Monday, September 20, 1999
Daewoo Heavy Industries Co. Ltd., a unit of South Korea's Daewoo Group, won $110 million orders to build two ships for Norway and Hong Kong, company officials said. Daewoo Heavy said in a statement that the Wilhelmsen Group of Norway placed an order for a RoRo ship worth $75 million. The Tai Chong Cheang Group of Hong Kong ordered a 173,000 dwt class bulk carrier for $36 million. Each of the contracts with the companies included an optional order to buy further identical ships, officials said. The RoRo carrier will be delivered by February 2001, and the bulk carrier is to be delivered by the end of 2001, Daewoo officials said.

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