Korea Shipbuilding wins 1.1 tln won orders for 10 ships

By Nam Kwang-sik

SEOUL, June 21 (Yonhap) -- Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday that it has signed 1.1 trillion won (US$1 billion) of deals to build 10 ships.

Under the 438 billion won deal with an Oceanian company, KSOE will deliver two 174,000-cubic meter liquefied natural gas (LNG) carriers to be constructed by its unit Hyundai Heavy Industries Co. by the end of 2023, the company said in a regulatory filing.

Another deal worth 106 billion won inked with a European company calls for KSOE's unit Hyundai Samho Heavy Industries Co. to build a 300,000-ton oil tanker and deliver it by the second half of 2023.

A 91,000-cubic meter liquefied petroleum gas (LPG) carrier was ordered by a Greek company, with two of the same vessels ordered by a company that asked KSOE not to reveal its name.

Of three LPG carriers, two will be built by Hyundai Heavy Industries and the third will be constructed by Hyundai Samho Heavy Industries.

Another KSOE subsidiary, Hyundai Mipo Dockyard Co., grabbed a 256.6 billion-won order to build four 115,000-ton petrochemicals carriers from a European company, with the order to be completed by March 2024.

By subsidiary, Hyundai Heavy Industries obtained orders worth $7.08 billion in the January-May period, up fivefold from a year ago, the company said in a separate regulatory filing.

Hyundai Heavy Samho Industries' new orders amounted to $2.39 billion during the above cited period, up more than 11-fold from the previous year, with Hyundai Mipo Dockyard winning $2.53 billion in new orders, up over threefold.

With the latest orders, KSOE, the holding company of the three shipbuilders, has won orders worth $12.2 billion so far this year, achieving 140 ships or 82 percent of its annual order target of $14.9 billion.
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