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Ships on order at HHI cross $10bn mark

Ships on order at HHI cross $10bn mark

Ulsan: Hyundai Heavy Industries (HHI) has cracked the $10bn barrier in terms of newbuilding order receipts. By the end of September, combined order receipts of its shipbuilding and offshore/plant divisions had already exceeded the $10bn mark. However, the order receipts of newbuildings alone reached $10.31bn as of the end of October thanks to a rash of VLCC orders. Recently released HHI statistics  show HHI's newbuilding order receipts for the January-October 2006 period totalled 104 ships of 9.04m grt, representing a massive 54% year-on-year jump on a grt basis. The orders consist of 46 tankers (20 of which will be constructed on land), 32 containerships, four LNG carriers, 20 LPG carriers (one to be built on land) and two specialized vessels. In October alone, the yard bagged orders for a total of 13 ships of 940,000 grt, comprising eight tankers, three LPG carriers and two specialized ships.  [30/11/06]

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