Mipo gets German bounty

Hyundai Mipo Dockyard in South Korea has secured an order for six 1,800TEU container ships from Reederei Claus-Peter Offen in Germany at a price of $235.5 million. The new order attaches 14 more options bringing the total contract value to about $800 million. The first ship will be delivered in August 2007.

In addition, the shipbuilder has signed a letter of intent with a German ship owner to build five 4,300TEU container ships at a cost of $ 310 million.