Hyundai shipyard reports 240-ship order backlog

Hyundai shipyard reports 240-ship order backlog    Korean shipbuilder Hyundai Heavy Industries said its backlog of vessel orders has reached 240 ships, for an aggregate contract value of $17 billion, as shipowners continue to place orders for new ships.
   Following a surge of large-scale orders secured in January, Hyundai received orders for another 20 ships in February, worth $1.9 billion. The February orders include four 8,600-TEU containerships and five 4,700-TEU vessels for Hyundai Merchant Marine, three 6,500-TEU containerships for Hanjin Shipping, four 4,900-TEU boxships for Islamic Republic of Iran Shipping Lines, and four liquefied petroleum gas carriers for a European shipowner.
   Hyundai has also recently received an order from COSCO to build the first 10,000-TEU containerships.
   “Hyundai Heavy Industries will be busy on its shipbuilding work for the next three years,” the company said.
   In a separate development, Hyundai Mipo Dockyard Co., an affiliate of Hyundai Heavy Industries, said Monday it has received an order worth 166.7 billion won ($163 million) from the Netherlands to build three 3,500-TEU containerships by June 2008. The orders are reportedly for P&O Nedlloyd.