South Korean Shipyard to Build Two More LPG Carriers

Leading South Korean shipbuilder Hyundai Mipo Dockyard Co., has won a US$102-million order from a Singaporean company to build two LPG carriers, according to Yonhap News Agency.

Hyundai Mipo, a subsidiary of Hyundai Heavy Industries Co., said it will start building the vessels from March 2016 and deliver them  a year later.

Principals of Eastern Pacific is a subsidiary of Eastern Pacific Shipping Pte., an international ship management company headquartered in Singapore.

Hyundai Mipo Dockyard tapped the LPG carrier market for the first time in 2006 and has built 25 LPG carriers, with its order backlog amounting to 21.

The shipbuilder has obtained a total of $1.3 billion orders for 24 vessels including nine LPG carriers so far this year.

Source: Yonhap