South Korea's SPP Shipbuilding Wins a Contract of Building 5 Bulk Carriers.
SPP Shipbuilding, South Korea"s mid-sized ship builder, successfully inked a contract of building five bulk carriers with a Greek ship owner this month. SPP said that it is to build bulk carriers of 82,000 tons for the Greek ship owners, one for Modion and two for Iason Hellenic, and two bulk carriers of 35,000 tons for S. Frangoulis. The total construction is nearly worth $ 165 million.
The shipbuilder is picking up speed in winning more contracts for building different kinds of carriers, including 10 bulk carriers worth nearly $ 360 million in late 2009 and it will continue to receive more orders this year as well. The recently awarded bulk carrier of 35,000 tons shares the same structure with "Handay Wind" that has been selected as the best ship of the year by the British maritime magazine "Naval Architect" and additional contracts of the same models are expected.
An official from SPP said that it is gaining popularity from customers as they have put efforts on upgrading their original carriers and developing more environment-friendly vessels that consume less fuel.
SPP has 152 more carriers worth of $ 6.9 billion, to build (totaling 2.62 million CGT) and set a goal to build 40 carriers earning $ 1.7 billion.