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Hyundai Heavy Wins $800 Million in Ship Orders

The world's largest shipbuilder, South Korea's Hyundai Heavy Industries, has won a total of $800 million in ship orders from China, Germany and Japan.

The Chinese firm COSCO Shipping has placed orders for four 10,000 TEU (twenty-foot equivalent units) container ships, the largest in the world.

Hyundai Heavy also received two, 8,600 TEU container ship orders from Hapag-Lloyd of Germany, and an order for one 35,000 cubic meter LPG carrier from Orix Corporation of Japan.

The shipbuilder said its backlog of orders stands at 230 ships worth $16 billion - enough to keep the company busy for the next three years.

Some information provided by AFP and Reuters.