May 02, 2024
Industrials
HHI inks deal to build 5 more ore carriers
[THE INVESTOR] Hyundai Heavy Industries said on Oct. 23 that it has clinched a deal worth 450 billion won (US$397 million) to build five very large ore carriers.
Under the deal with Polaris Shipping, HHI will hand over the vessels in phases. The deal is part of last month’s contract with the same shipping firm, which had an option by the shipyard to build more ships going forward.
In the deal worth 908 billion won, HHI will build the 10 325,000-ton vessels in phases by 2021.
So far this year, HHI has bagged orders valued at US$6.7 billion to build 110 ships. Its annual order target for the year is US$7.5 billion.
By Alex Lee and newswires (alexlee@heraldcorp.com)
