South Korea's Daewoo Shipbuilding and Marine Engineering Co Ltd said that it has won a 734.5 billion won ($677.7 million) deal to build five container vessels for Hyundai Merchant Marine Co Ltd

Daewoo said delivery was scheduled for September 2014.

Hyundai Merchant Marine said in a statement that the five 13,100 twenty-foot equivalent unit (TEU) vessels would sail Asia-Europe routes.

Earlier in August, the company said it would spend $639 million to add the five ships. (Reuters)