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Korea Shipbuilding wins 891 bln-won order for LNG carriers this year

All News 11:45 July 31, 2020

By Nam Kwang-sik

SEOUL, July 31 (Yonhap) -- South Korea's shipbuilding conglomerate Korea Shipbuilding & Offshore Engineering Co. said Friday its two affiliates have signed deals amounting to a combined 891 billion won (US$750 million) to build four liquefied natural gas (LNG) carriers.

Hyundai Heavy Industries Co. has bagged a 445.6 billion-won deal to construct two LNG carriers from a shipper in Bermuda, while Hyundai Samho Heavy Industries Co. has won a 445.6 billion-won deal to build two LNG carriers from a European company, Korea Shipbuilding said in a regulatory filing.

The two shipbuilders will deliver the LNG vessels starting in 2023, Korea Shipbuilding said.

This photo provided by Hyundai Heavy Industries Co. shows a LNG carrier built by the shipbuilder. (PHOTO NOT FOR SALE) (Yonhap)

Korea Shipbuilding has three shipbuilders -- Hyundai Heavy, Hyundai Samho and Hyundai Mipo Dockyard Co.

The holding company said its three shipbuilding subsidiaries have clinched a combined $2.9 billion in orders to build 42 ships in the January-July period, meeting 19 percent of their annual order targets of $15.7 billion.

Korea Shipbuilding posted 400 million won in net profit in the second quarter, compared with a profit of 201.6 billion won a year earlier as orders sharply fell due to COVID-19.


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