Four containerships of 3,500 teu each with two options were ordered by Rickmers of Germany, while Dutch owner Vroon BV placed an order for two 46,000-dwt PCs.

Vroon BV moved a newbuilding project from China's Dalian Shipyard to HMD earlier this year. HMD will deliver the four containerships in the second half of 2005.

HMD recorded net income of ￦15.7bn ($13.38m) in the three months ending on Sept. 30, compared to a loss of ￦22.7bn in the same period last year.

Revenues reached ￦286.4bn, up 35%.

Cost-cutting has helped turn its performance around, with interest expenses in particular being reduced.

HMD has a backlog of more than 100 ships, worth in excess of $3bn, made up of 15 containerships and 88 product and chemical tankers. It will deliver 38 ships this year, but anticipates output rising to 40 ships next year, a production level that it expects to maintain through 2005. HMD will also repair 100 ships this year.