SEOUL, KOREA- Hyundai Heavy Industries said on August 30 that it won a US$1.4-billion deal to build ten ships, including five 18,000-TEU (twenty-foot equivalent unit) container carriers and five 14,000 TEU vessels, for United Arab Shipping Company of the United Arab Emirates. As the latest contract includes options to build additional seven ships (one 18,000-TEU and six 14,000-TEU container carriers), the Korean company expects to win further deals.
Hyundai Heavy could clinch the deal thanks to the ample experience it has accumulated in building more than 550 container ships as well as the technical competency it has exhibited in constructing energy-efficient, environmentally-friendly ships. In addition, the fact that Hyundai Heavy could deliver ships in such a short time span as it will work with Hyundai Samho Heavy Industries helped it land the deal.
Hyundai Heavy was the world's first shipbuilder to win a container ship over 10,000 tons in 2005, opening the era of super-large container vessels. Earlier this year, it had won an order for five 14,000-TEU container carriers from Canada's Seaspan Marine Corp., followed in May by a five 18,400-TEU ship order from China. This year to date, Hyundai Heavy has booked ship and offshore plant orders of $19.6 billion, reaching 82 percent of the year's target of $23.8 billion.
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