South Korea's Hyundai Samho Heavy Industries has formally signed 10 ultra-large containership newbuildings of 13,900TEU each, worth KRW 1.4trn ($1.297bn) in total with Singapore state-owned shipping company Neptune Orient Lines.
Hyundai Samho announced today that it has recently held a contract signing in Mokpo, South Jeolla Province, South Korea with Hyundai Samho president Oh Byung-uk and NOL officials attending the event.
The boxships, 368 meters long, 51 meters wide and 30 meters high, will be delivered from June 2013 with the last ship in the series set for delivery by June 2014.
Hyundai Samho is a containership specialist builder by delivering a total of 114 boxships to date. Of its total newbuilding orderbook of 109 ships, containerships occupy 61 ships.
An official from the yard said, "The hull design was optimized and electricity-controlled engine will be mounted on the vessels to achieve higher energy saving and eco-friendliness, which well appealed to the owner."
Meanwhile, with the latest new order, Hyundai Samho has inked newbuilding orders for 30 ships worth $3.2bn so far this year, attaining more than 90% of its annual order target of 32 ships worth $3.5bn. The order target was set at the beginning of the year and is highly likely to be met easily.
Hyundai Samho plans to deliver 56 newbuildings this year and achieve revenue of KRW 4.65trn.