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South Korean shipbuilders unveils new orders

South Korean shipbuilders unveils new orders

Despite the fact that several shipyards around the world have been facing order stagnation as a result of the COVID-19 crisis, the situation appears to be different for South Korean shipbuilders, who recently received another round of containership orders

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Samsung Heavy Industries (SHI) announced a KRW 794.2 billion (nearly $700 million) order issued by an unidentified Asian company in a stock exchange filing on March 9, 2021.

SHI will build five 15,000 TEU containerships as terms of the arrangement, with delivery expected by the end of January 2024. According to Yonhap News Agency, the vessel quintet will be fuelled by liquefied natural gas (LNG).

SHI has secured orders for 19 vessels totaling $2.4 billion so far this year, accounting for 31% of the shipbuilder's $7.8 billion orderbook plan for 2021.

In addition, the Korea Shipbuilding & Offshore Engineering Co (KSOE) has received orders for four container ships. The orders, worth KRW 568.1 billion, were issued by Liberian shipowners.

The four 15,900 TEU units will be built by Hyundai Heavy Industries (HHI), a subsidiary of KSOE.

Two newbuilds are expected to be completed by May 30, 2023, and two more by November 30, 2023.

Maritime Business World 

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