S.Korea's Hyundai Mipo says ship order revised up

SEOUL, Nov 13 (Reuters) - Hyundai Mipo Dockyard Co Ltd (010620.KS) said on Thursday it had signed a $408 million order that revised up a 2007 contract to reflect changes to ship types.

South Korea-based Hyundai Mipo had initially won a $373 million order for eight container ships from an unidentified company in Europe in September 2007.

The new contract now calls for the shipbuilder to deliver two container ships, two product carriers and three liquefied petroleum gas carriers, Hyundai Mipo said in a filing with the Korea Exchange.

The revision comes as the global economic downturn and softening trade volume hits the bulk shipping industry hard.

As the South Korean won weakened sharply in the past year, the won-converted value of the order was also revised up to 545.2 billion won from 349.7 billion won.

The newly ordered ships would be delivered by November 2010. ($1=1390.4 Won) (Reporting by Rhee So-eui; Editing by Jonathan Hopfner)