Hyundai wins orders for Gunsan

Hyundai Heavy Industries (HHI) has won a $300 million order from Korea Lines to build two VLCCs for delivery by the end of 2010. The South Korean shipbuilder is set to start the construction of the crude oil carriers in its new shipyard in Gunsan, North Jeolla Province, in late April.

A HHI spokesman said: “We?ve already obtained $1.5 billion worth of deals, 58 % of this year?s target by book value, in our Gunsan shipyard.”