South Korea-based shipbuilding company Hyundai Mipo Dockyard (HMD) has been contracted by an undisclosed European customer to build two roll-on / roll-off (RORO) ships, worth $186.5m.

The large, medium-speed RORO ships are generally used for transporting vehicles and machinery loaded onto large ocean shipping.

According to the stock exchange filing by Hyundai Mipo, the order will come into effect from 31 August this year.

"The latest order follows days after the company received an order to build three gas carriers worth a total of $140m."

Further details about the type of vessels and other financial terms have not been disclosed by the company.

However, the company mentioned in the filing that the vessels are scheduled to be completed and delivered by 31 December 2017.

The latest order follows days after the company received an order to build three gas carriers worth a total of $140m, World Maritime news reported.

It includes two liquefied petroleum gas (LPG) carriers and one liquefied ethylene gas (LEG) carrier to be delivered in October 2017.

In July this year, the company recieved an order from an undisclosed client registered in Marshall Islands to construct two LPG carriers.

A subsidiary of South Korean shipbuilding giant Hyundai Heavy Industries, HMD has constructed and delivered a wide array of vessels like product carriers, container vessels, MPCs, drillships, cable layers, pipe layers, FPSO and AHTS among others over the last ten years.

According to the news agency, the shipyard’s current orderbook stands at $3.38bn.