Hanjin Receives $2.2 Billion in Orders

South Korea's Hanjin Heavy Industries & Construction Co. said Friday it has received US$2.2 billion (euro1.64 billion) in orders for container and bulk ships for delivery in two-and-a-half years. All the ships will be built at Hanjin Heavy's shipyard at Subic Bay in the Philippines, and are scheduled for delivery by the end of 2010,

Germany's NSC Schiffartsgeselhaft has ordered eight container ships with a capacity of 12,800 twenty-foot equivalent units for US$1.27 billion, and France's CMA CGM SA has ordered ten container ships with a capacity of 3,600 twenty-foot equivalent units for US$690 million.

Hanjin will also build a 175,000 dead weight ton bulk ship for Turkey's Eregli, and two other 175,000 dead weight ton bulk ships for India's Adani Group. The three bulk ship orders are worth US$240 million.

All the ships will be built at Hanjin Heavy's shipyard at Subic Bay in the Philippines, and are scheduled for delivery by the end of 2010, a company spokesman said.

Earlier this week, Daewoo Shipbuilding & Marine Engineering Co., said it had received orders to build 12 container ships for US$1.1 billion, with orders for the year so far totaling US$6.04 billion.

South Korean shipbuilders are expected to increase their export 18 percent this year to US$26 billion, the Yonhap News Agency reported Monday.