Hyundai Mipo wins ten product carriers

Hyundai Mipo Dockyard has received an order valued at 433 billion won ($464 million) from an Asian shipping company to build 10 chemical product tankers.

The vessels will be delivered by April 2011, the shipbuilder said without naming the buyer. Hyundai Mipo, the world’s fourth-biggest shipyard, received a record $6.3 billion worth of orders in 2007, with its backlog representing more than three years of work.