Hyundai Heavy lands massive construction vessel deal

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Hyundai Heavy lands massive construction vessel deal

Hyundai Heavy Industries, Korea’s leading shipbuilder, said yesterday that it has won a deal to build a multipurpose offshore construction vessel.

Under the deal with Toisa of Greece, Hyundai Heavy will deliver the vessel by the end of 2015, the company said in a statement.

Financial terms of the contract were not disclosed, but industry sources put the value of the deal at up to $200 million.

The completed vessel will be 151 meters (495.4 feet) long and 32 meters wide, according to Hyundai Heavy.

The shipbuilder earlier said it was aiming to win orders valued at $29.7 billion this year, compared with last year’s $19.57 billion, on the back of an uptick in the global economy.

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