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Korea Shipbuilding wins 823 bln won in orders for 10 ships

All News 11:42 March 15, 2021

By Nam Kwang-sik

SEOUL, March 15 (Yonhap) -- Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has bagged orders worth a combined 823 billion won (US$725 million) to build 10 vessels.

Under a deal with an African company, three 91,000-cubic meter liquefied petroleum gas (LPG) carriers to be built by Hyundai Samho Heavy Industries Co., a unit of KSOE, will start being delivered in the second half of 2022, KSOE said.

In a separate deal with an Oceanian company, Hyundai Mipo Dockyard Co., another unit of KSOE, will construct one 40,000-cubic meter LPG carrier to be delivered by the first half of 2023. The deals for two kinds of LPG carriers have options to build another LPG carrier, KSOE said.

This photo, provided by Korea Shipbuilding & Offshore Engineering Co., on March 15, 2021, shows a crude carrier built by Hyundai Heavy Industries Co. (PHOTO NOT FOR SALE) (Yonhap)

An order for four 300,000-ton crude carriers placed by a European company calls for Hyundai Heavy Industries Co. to start delivering the vessels in the second half of 2022.

Two petrochemicals carriers to be delivered from the second half of 2022 also will be built by Hyundai Vietnam Shipbuilding Co.

Korea Shipbuilding has three shipbuilding affiliates -- Hyundai Heavy Industries Co., Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co. -- under its wing.

Hyundai Vietnam Shipbuilding, formerly known as Hyundai Vinashin Shipyard, is a 65:35 joint venture set up between Korea Shipbuilding and Vietnam's Vinashin Group.


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