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Hyundai Heavy says wins $700 million order from Iran for 10 ships

Reuters
A shipyard of Hyundai Heavy Industries is seen in Ulsan, about 410 km (255 miles) southeast of Seoul June 28, 2013. REUTERS/Lee Jae-Won (Reuters)

SEOUL (Reuters) - South Korea's Hyundai Heavy Industries Co Ltd <009540.KS> said on Sunday it had won a $700 million (556.75 million pounds) order to build 10 ships for Iran's state-owned Islamic Republic of Iran Shipping Lines. The order is for 14,500 TEU container ships and 49,000 tonne tankers, the South Korean company said in a statement, although it did not break down the number of ships of each type. Delivery will begin in the second quarter of 2018, it said. (Reporting by Yun Hwan Chae)