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Korea Shipbuilding grabs 383 bln-won order for 4 chemical carriers

All News 11:15 October 25, 2021

By Nam Kwang-sik

SEOUL, Oct. 25 (Yonhap) -- Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has obtained a 383 billion-won (US$325 million) deal to build four LNG-propelled petrochemical carriers.

The 4,000-ton vessels to be built by Hyundai Heavy Industries Co., a subsidiary of KSOE, will be delivered to a shipper in the Middle East by the first half of 2024, the company said in an emailed statement.

KSOE said it has bagged 60 percent of the global orders for 61 LNG-powered petrochemicals so far this year.

"As demand for eco-friendly ships has been further growing, inquiries about ships propelled by eco-friendly fuels has been continuing in recent months," KSOE said in the statement.

A LNG-propelled container carrier built by Hyundai Heavy Industries in September 2020 operates during a sea trial, in this photo provided by Korea Shipbuilding & Offshore Engineering Co. (KSOE) on Oct. 25, 2021. (PHOTO NOT FOR SALE) (Yonhap)

KSOE has already topped its annual order target of $14.9 billion, excluding the latest order.

KSOE, the subholding company of Hyundai Heavy Industries Holdings Co., operates three shipbuilders -- Hyundai Heavy Industries Co., Hyundai Samho Heavy Industries Co. and Hyundai Mipo Dockyard Co.


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