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Korea Shipbuilding resumes its winning streak with $262.5 million contract

Korea Shipbuilding resumes its winning streak with $262.5 million contract

South Korean shipbuilder Korea Shipbuilding & Offshore Engineering (KSOE) is resuming its winning streak with 288 billion won ($262.5 million) orders secured in the new year.

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Hyundai Samho Heavy Industries, a subsidiary of the group, won an order from a shipping partner from Liberia for an LNG carrier worth 198.9 billion won. By August 2023, the 174,000 cbm LNG carrier is scheduled for delivery.

The shipbuilder has the option of building two additional LNG carriers and an LPG carrier under the arrangement, which could potentially push the order value to 450 billion won.

Separately, Hyundai Mipo Dockyard has bagged an order also scheduled for delivery in 2023 for the construction of a 40,000 cbm LPG tanker.

Finally, the Vietnam-based subsidiary of Hyundai Mipo, Hyundai Vietnam, was hired to build a 50,000-ton petrochemicals carrier (PC) for an unnamed Asian owner. In the first half of 2022, the vessel is scheduled to be shipped.

According to KSOE officials, the shipbuilder won 21 contracts out of a total of 52 that secured a top position for a major portion of last year's orders in the LNG market.

Just a week after KSOE received orders for a total of six 15,000 TEU containerships worth around $818.4 million, the contracts will be announced.

The shipbuilder said that its subsidiary Hyundai Samho Heavy Industries Co. will build KRW 297 billion worth of two vessels from the batch.

Maritime Business World 

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