Qingdao clinches big order

Hyundai Corporation has risen as a major player in the global small and middle sized vessel market as ?Qingdao Hyundai Shipbuilding,? a company it launched last June in China, has successfully won shipbuilding contracts worth over $300 million within the last 4 weeks.

A new shipbuilding contract involving 9 units of 5,500DWT bunkering tankers was signed with Aegean, a Greek shipping company. This brings the shipbuilder?s order book to a total of 28 small and middle sized vessels totaling $330 in value, following last month?s orders from Greek shipping company Evalend to construct 16 5,600DWT chemical tankers. The yard now has 3 year?s worth of work.

The yard is currently modernizing and expanding its production facilities and will be launching an aggressive marketing campaign focusing on high-value-added vessels with the aim of becoming a top-rate shipbuilder with the world?s most advanced technology. In addition, talks are currently underway to win further orders from foreign shipping companies including Greece and Germany.

Hyundai Corporation officially inaugurated its Qingdao facility last June when it established a joint venture with a Chinese shipbuilding company that marked the first of its kind to be made with a Chinese counterpart in the shipbuilding sector.