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Hyundai Mipo Dockyard wins 117.3 bln-won order for 2 product carriers

May 19, 2023

South Korean shipbuilder Hyundai Mipo Dockyard Co. said Friday it has won a 117.3 billion-won (US$87.6 million) order to build two product carriers for an African shipper.

Hyundai Mipo Dockyard will build the petrochemical product-carrying ships in its shipyard in the port of Ulsan, 307 kilometers southeast of Seoul, the shipbuilder said in a regulatory filing.

The vessels will be delivered to the undisclosed shipping company by July 2026, it added.

Hyundai Mipo Dockyard is one of the three affiliates of HD Korea Shipbuilding & Offshore Engineering Co., a subholding company of shipbuilding, oil refining and machinery conglomerate HD Hyundai. The two others are Hyundai Heavy Industries Co. and Hyundai Samho Heavy Industries Co.

HD Korea Shipbuilding said it has clinched $9.97 billion worth of orders to construct 79 ships so far this year, or 63.3 percent of its yearly target of $15.74 billion.

The orders break down into 25 product carriers, three oil tankers, 19 container vessels, 16 liquefied natural gas carriers, 14 liquefied petroleum gas carriers and two mid-size gas carriers.