Hyundai Recieved $960 Million Dollars in Shipbuilding Orders

Home > Business > Economy

print dictionary print

Hyundai Recieved $960 Million Dollars in Shipbuilding Orders

Hyundai Heavy Industries announced on November 8 that it recieved 960 million dollars worth of shipbuilding orders for 13 ships including 8 VLCC(very large crude carrier)from foreign companies.
The largest Swedish marine shipping company, Stena, ordered eight 316,000 ton VLCC class totaling 650 million dollars, and Iran's state-run IRIS ordered four 3,300 TEU class containers totaling 160 million dollars. A french consortium ordered one FPSO, which is used to drill oil on the sea.
Hyuindai's VLCC is very popular among shipping companies nowadays because unlike other ordinary tankers its double propelling system which has two engines and propellers can make ships operate even if one engine is out of order.
Hyundai has as of the end of October accumulated 120 shipbuilding orders which amount to 7.5 milliom tons. This is the highest level since the company was established.
Hyundai said, 'We have recieved 61 shipbuilding orders worth 3.5 billion dollars until the end of October this year, and the year's order target of $4 billion will be easily achieved.'

More in Economy

2020 Korea Economic Forum

Dignitaries welcome frank evaluation of Covid-19 and the economy

Green New Deal, coronavirus discussed at 14th KEF

FSC Chairman stresses importance of global cooperation

Not set yet

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now