Sep 14 2005
Hyundai Corporation revealed that its Chinese affiliate “Qingdao Hyundai Shipbuilding’” earnestly started building ships as it won the order of two general cargo
carriers.
Hyundai Corporation concluded a contract with Mirai Shipping of Panama on building two general cargo carriers of 2,600 ton on Sept. 9 in the Grand Meeting Room of its Headquarters in Seoul.
Qingdao Hyundai Shipbuilding will start building the ships in conformity with the contracted in the late of this year and deliver them into the shipper Mirai Shipping
in Oct. and Sept. 2006.
Then Shin Sung Shipping, the domestic mid-sized outbound company, will charter the ships on a long-term basis that can load steel materials, general merchandise and crops.
Mr. Jung, the managing director of Hyundai Corporation said “This order is all the more significant because it is the first contract to show the earnest operation of Qingdao Hyundai Shipbuilding. Moreover, as many companies both at home and abroad are more requesting advice, only the hand-picked contract with high added value will get the volumes enough for the next two or three years.”
Qingdao Hyundai Shipping, the affiliate of Hyundai Corporation has established as it entered into the shipbuilding industry, has been launched in the board-hanging ceremony in Kyonam, Qingdao, China in last June.