hyundai merchant marine

Hyundai Merchant Marine to buy 5 container ships worth $643M

Rob Almeida
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August 10, 2011

hyundai merchant marineSEOUL (Dow Jones)–Hyundai Merchant Marine Co. (011220.SE), South Korea’s No. 2 shipping company by revenue, said Wednesday it will invest KRW695 billion ($643 million) to buy five container carriers to strengthen its fleet with large-size ships.

“Daewoo Shipbuilding (& Marine Engineering) will deliver the container ships by December 31 2014,” a company spokesman said by telephone.

All the vessels will have a capacity of 13,100 twenty-foot equivalent units.

-By Kyong-Ae Choi, Dow Jones Newswires

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