Mipo clinches eight product carriers

Hyundai Mipo Dockyard in South Korea clinched four 37,000DWT and four 47,000DWT product carriers from Turkish shipping company Geden Line. Total contract price is $349 million. They will be delivered by November 2008.

Hyundai said it had targeted orders worth $13.02 billion in 2006, including $5.98 billion in ship orders, versus $15.9 billion in 2005. Daewoo Shipbuilding aims to win $10 billion worth of orders in 2006, up 47% from 2005.