Hyundai Heavy Wins World’s Largest Oil-Facility Order

Hyundai Heavy Industries Co., the world’s biggest shipyard, said it won a $1.6 billion contract from the United Arab Emirates to build offshore oil production facilities, the single-largest order ever.

Hyundai Heavy, Daewoo Shipbuilding & Marine Engineering Co. and other Asian dockyards are benefiting from increased investment in fuel production and transportation, as demand for oil increases worldwide. The shipyards in South Korea, home to the world’s largest, have a backlog of orders that will keep them busy for more than three years.
Bloomberg