Hyundai Heavy wins $700M order for jumbo ships

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Hyundai Heavy wins $700M order for jumbo ships

Hyundai Heavy Industries, the world’s No. 1 shipbuilder, said it has won a $700 million order for jumbo vessels.

Under the deal with China Shipping Container Lines, the Korean shipbuilder will deliver five 18,000 TEU, or 20-foot equivalent unit, container carriers starting in the second half of 2014.

Each container carrier will be 400 meters (1,310 feet) long, 58.6 meters wide and 30.5 meters high. The size of a ship is four times bigger than a soccer field according to Hyundai Heavy Industries.

This is the second time this year that Hyundai Heavy Industries has won a contract for building jumbo container ships measuring 10,000 TEU or larger.

In January, it won an order for five 14,000-TEU ships for Vancouver-based Seaspan.

Hyundai Heavy Industries aims to win orders valued at $23.8 billion in offshore plant businesses this year, and it has already met 41 percent of its goal by securing $9.7 billion in orders.

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