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Korea Shipbuilding bags 986 bln won in orders from Oceania

Industry 11:34 November 17, 2020

By Nam Kwang-sik

SEOUL, Nov. 17 (Yonhap) -- Korea Shipbuilding & Offshore Engineering Co. said Tuesday that it has signed a combined 986 billion won (US$890.5 million) worth of orders to build 10 very large crude-oil carriers (VLCCs).

Three VLCCs will be built by its unit Hyundai Samho Heavy Industries Co. and seven VLCCs will be built by its unit Hyundai Heavy Industries Co., Korea Shipbuilding said in a regulatory filing.

The 300,000-ton vessels will be delivered by March 2023 to unidentified customers, the company said.

With the deals, Korea Shipbuilding has obtained orders to build 21 VLCCs, taking up 70 percent of the global VLCC market so far this year, the company said.

This photo provided by Korea Shipbuilding & Offshore Engineering Co. on Nov. 9, 2020, shows a crude-oil carrier built by Hyundai Heavy Industries Co. (PHOTO NOT FOR SALE) (Yonhap)

ksnam@yna.co.kr
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