Hyundai Heavy Group Secures Order for Three Medium-Sized LPG Carriers Worth 195 Billion KRW

[Asia Economy Reporter Hwang Yoon-joo] Hyundai Heavy Industries Group has succeeded in securing orders for three medium-sized LPG carriers.

Hyundai Heavy Industries Group announced on the 28th that it recently signed a construction contract worth approximately 195 billion KRW for three medium-sized LPG carriers with a capacity of 40,000 cubic meters (㎥) each from EPS (Eastern Pacific Shipping), a Singapore-based shipping company.

The contract includes options for two additional vessels, raising expectations for further orders in the future. The vessels ordered this time are 180 meters long, 28.7 meters wide, and 18.7 meters high, and will be built at Hyundai Mipo Dockyard in Ulsan, with deliveries scheduled sequentially starting from April 2022.

Notably, these vessels are equipped with LPG dual-fuel propulsion engines, enabling compliance with the International Maritime Organization (IMO)'s strengthened sulfur oxide emission regulations without the need for scrubbers.

With this contract, Hyundai Heavy Industries Group has secured all ten medium-sized LPG carriers ordered worldwide since 2019. According to Clarkson, a shipbuilding and shipping analysis firm, global maritime LPG transport volume reached 100.4 million tons in 2019 and is expected to increase by about 6% to 110 million tons in 2021.

A Hyundai Heavy Industries Group official stated, “We plan to continue our best efforts in securing orders based on advanced technologies such as dual-fuel propulsion technology.”

This content was produced with the assistance of AI translation services.