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Sungdong moves up in size

Seoul: Sungdong Shipbuilding & Marine Engineering, located near Tongyeong City, Jinhae Bay, has booked by far its largest vessels to date in the form of five 6,500teu containerships for Danaos Shipping of Greece at an estimated $100m each. Deliveries are slated to begin early in 2009. Separately it is reported to be negotiating up to six 115,000dwt tankers from Kristen navigation, also Greek-controlled, at around $65m each for 2009/10 delivery. Originally a subcontractor for larger Korean yards, Sungdong has previously offered much smaller boxships and tankers up to panamax size.  [07/08/06]

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