Sungdong scores big Vale order

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Seoul: Sungdong Shipbuilding & Marine Engineering, located at the base of the Korean peninsula, has grabbed an order for four 180,000 dwt capesizes from Brazilian mining giant Vale.
The deal is worth $250m and represents Sungdong’s first bulker orders of the year.All the ships will be delivered by 2011. This latest order follows on from a spate of Greek VLCC orders and brings the yard’s backlog to 93 ships. [27/08/09]