Hyundai Mipo wins European bulk carrier order

South Korea’s Hyundai Mipo Dockyard Co Ltd, an affiliate of Hyundai Heavy Industries Co, has secured an order worth $474 million from an unnamed shipowner in Europe.

Under the contract, the shipbuilder is required to build 10 bulk carriers for the European client by November 2011. The value of the contract is equivalent to 18.6% of its total revenue last year.