Daewoo Mangalia To Build 4 Ships In $400M Deal

05.19.2011 By Andrei Circhelan

Southeastern Romanian shipyard Daewoo Mangalia Heavy Industries, or DMHI, will build four container carriers for Israeli group Ofer Global Holdings, under a $400 million contract, the ship owner announced Thursday.

The ships will be delivered by the end of 2013, and the contract comes with an option for another four ships.

"The order placed (at DMHI) represents only a part of the $2.4 billion investment operated by Ofer in Central and Eastern Europe, the first binding order of such magnitude in the past three years," Ofer Global Holdings said in a news release.

Ofer Global Holdings is active in international maritime transport and in real estate.