Tuesday, July 3, 2012

Hyundai Heavy lands $1.2 billion container ship building order

Hyundai Heavy Industries scored a $1.2 billion order to build 10 container ships for a Greek-based company, according to a Tuesday announcement from the company. This is good news for the shipbuilder, which is well under its goal for new orders in 2012.

"These orders are noteworthy considering the current sluggish shipbuilding market," the company said in a statement. "We expect some orders to be realized in the second half to help achieve this year's order target."

Of Hyundai Heavy's annual new order target of $30.55 billion, the company has only realized $7.32 billion thus far.

The ships will be delivered to the undisclosed Greek ship owner by late 2014.

For more of the Fox News story: www.foxbusiness.com

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