Hyundai Heavy Wins USD 1.45 Billion Shipbuilding Order

Hyundai Heavy, the world largest shipbuilder, won a USD 1.45 billion deal to build ten 13,100 TEU containerships from Hapag-Lloyd, Germany's largest container shipping line.

The new orders consist of four 13,100 TEU containerships and six ship type change orders from 8,600 TEU to 13,100 TEU. The six 8,600 containerships were originally ordered in 2008.

These 10 containerships are scheduled to be delivered from July 2012 to November 2013.

The increased sea-born shipping volumes as the global economy shows signs of recovery and reduced overcapacity thanks to shipping lines' eco-friendly slow steaming played a role in the faster-than-expected global containership market recovery.

So far this year, Hyundai Heavy Industries (including Hyundai Samho Heavy Industries) has won orders for 80 ships valued at USD 10.6 billion and its order backlog stands at 324 ships worth USD 52.7 billion.<Korea Shipping Gazette>