HHI wins order to build eight boxships

Hyundai Heavy Industries Co. (HHI) has won a $978 million order to build eight container ships. The deal from a shipping company in the Marshall Islands calls on HHI to deliver the vessels by November 2010

HHI has received $4.4 billion worth of new orders this year, more than half of its full-year target of $8.6 billion. Because of strong demand for crude carriers and offshore exploration equipment amid high oil prices, Korean shipbuilders are expected to see their exports rise 18% to $26 billion this year on the back of continuous demand for high-end ships and other products.