Hyundai wins large boxship order

Hyundai Heavy Industries has won an 857 billion won ($923 million) order to build eight container vessels. The deal from a European company calls for HHI to deliver the ships by December 2010.

The Korean shipbuilder clinched record-high orders last year because of strong demand for crude carriers and offshore exploration equipment as well as high oil prices. South Korean shipbuilders, such as Samsung Heavy Industries, are expected to see their exports rise 18% to $26 billion this year because of the demand for high-end ships and other products.