Hyundai Corp wins dry cargo contract from Russia

South Korea’s Hyundai Corporation has won an order for ten 5,000DWT dry cargo vessels from Russia.

Hyundai said that it won the US$120 million order from the Volga Baltic Company, and that its Chinese affiliate, Qingdao Hyundai Shipyard would build the ten ships. Hyundai Corporation is a general trading company based in South Korea and is not part of Hyundai Heavy Industries. “We won a huge order amidst a severe economic downturn in the shipbuilding industry,” the company said.

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