Hyundai Mipo Expands Navy Yard contract

A South Korean shipbuilder said that it will be building additional tankers and container ships at the old Philadelphia Navy Yard. The parent of Aker Philadelphia Shipyard Inc. said its expanded deal with Hyundai Mipo Dockyard Co. Ltd. covers an additional six tankers as well as exclusive rights for container ships.

Under a 2004 deal, Hyundai Mipo has been providing design and procurement services for a series of 10 tankers currently under construction in Philadelphia. Aker Philadelphia Shipyard and its parent, Aker American Shipping Inc., are part of the Norway-based Aker group of oil services, engineering, construction and shipbuilding companies.

Source: AP