Hyundai Mipo Dockyard Co., a mid-sized South Korean shipbuilder, said Thursday that it has secured 120 billion won (US$107 million) worth of orders to build three container vessels.

Hyundai Mipo wins US$107Mln order for 3 container ships

Under the deal with an Asian shipper, Hyundai Mipo will build the 2,500-TEU vessels, with the delivery of the ships to begin during the second half of 2020.

Hyundai Mipo is an affiliate of Hyundai Heavy Industries Co., the world's largest shipyard.

So far this year, Hyundai Heavy Industries Group has secured over $1 billion worth of orders to build a total of 19 ships, including four oil tankers.

Hyundai Heavy and its two affiliates are aiming to win $15.9 billion worth of shipbuilding deals this year, up 21 percent from a year earlier.

Last year, they secured $14 billion worth of deals to build a total of 163 ships, surpassing their annual order target of $13.2 billion.

Source: Yonhap