Hyundai Mipo Wins $222m Contract

The Hyundai Mipo Dockyard Co., a unit of Hyundai Heavy Industries Co. said it had won a $222m order to build five chemical carriers. The shipbuilder will deliver the ships to an unidentified shipping company in Europe by February 2011, it said in a regulatory filing. South Korean shipbuilders such as Samsung Heavy Industries Co. are expected to see their exports rise 18 per cent to $26 billion this year on the back of continuous demand for high-end ships and other products. Source: Business in Asia Today