Daewoo Shipbuilding Wins $500m Deal

Daewoo Shipbuilding and Marine Engineering Co. said it has won a $500m order to build five container ships for a German shipping company.

The deal calls for Daewoo Shipbuilding to deliver the ships, which can hold 4,700 20-foot standard containers, to Hamburg Sud, one of the largest ship lines, by 2010, the company said. The vessels will be built at Daewoo Shipping's yard in Romania, it said. (Yonhap)