Hyundai Heavy named preferred bidder for 12-ship contract

[THE INVESTOR] Hyundai Heavy Industries announced on Sept. 4 that it has been selected as the preferred bidder for a 12-oil tanker contract of Russia’s Sovcomflot.

Sovcomflot is a state-owned shipping company that specializes in petroleum and LNG shipping.

HHI said that it was selected as the preferred bidder for the US$ 660 million deal in August, and is currently negotiating details of the contract. 

Hyundai Heavy's shipyard.

The South Korean shipyard is also working with Russian state-owned shipbuilder Far Eastern Shipbuilding and Ship Repair Center to set up a joint venture for ship design and project management.

By Choi He-suk (cheesuk@heraldcorp.com)