Mumbai: ABG Shipyard Ltd has won a contract to build 12 handysize bulk carriers of 35,000 DWT each from Bereederungsgesellschaft H Vogemann GmbH & Co. KG, of Germany. The order is valued at approximately $360 million (Rs1,439 crore).

With this order, the company''s aggregate order book now stands at Rs7,121 crore.

This is one of the largest orders bagged by ABG and first of its kind from a German shipping company. The contract was signed on 3 July, and financial closure coming now.

"This is a path-breaking order and we at ABG are proud to have won this contract against stiff international competition," said Rishi Agarwal, MD of the company.

Hamburg-based H Vogemann operates a modern young dry bulk fleet of 6 Cape size, 7 Panamax and 6 handysize vessels and has placed new building order on Namura Shipyard, Japan, GSI in China and ABG Shipyard in India.

With this order, the order book position of the company stands at about Rs7,121 crore.