Hyundai Mipo Dockyard gets contract for 2 LPG carriers

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Hyundai Mipo Dockyard gets contract for 2 LPG carriers

Hyundai Mipo Dockyard, a major Korean shipbuilder under Hyundai Heavy Industries, said yesterday it has secured a $102 million order from a Singaporean company to build two liquefied petroleum gas (LPG) carriers.

The shipbuilder said it signed a contract with Principals of Eastern Pacific on Monday in Singapore to build two LPG carriers beginning March 2016 and deliver them a year later.

The vessels will be 180 meters (590-feet) long, 28.4 meters wide and 18.2 meters high.

Hyundai Mipo Dockyard first entered the LPG carrier market in 2006 and has built 25 LPG carriers, with 21 waiting to be delivered.

The company this year won orders for 24 vessels worth $1.03 billion won ($1 million), including nine LPG carriers.

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