Hyundai Heavy Grabs Coveted Container Ship Contract from Greece

      July 04, 2012 09:54

      Hyundai Heavy Industries has won an order to build ultra-large container ships, the first of its kind issued anywhere in the world this year. The shipbuilder signed a deal with a Greece-based shipper in London on Tuesday to construct 10 13,800-TEU container vessels for US$1.2 billion.

      In the shipbuilding industry, container ships are categorized into three classes -- small and medium (less than 5,000 TEU), large (5,000-8,000 TEU), and ultra-large (more than 8,000 TEU).

      Construction will begin in Hyundai's shipyard in Ulsan next March with delivery due in the second half of 2014.

      So far this year, Hyundai has received orders for 30 vessels worth a combined $6.13 billion, including seven liquefied natural gas carriers and one drill ship.

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