Korea Shipbuilding & Offshore Engineering Secures 90 Billion KRW Order for 2 PC Ships

[Asia Economy Reporter Hwang Yoon-joo] Korea Shipbuilding & Offshore Engineering, the shipbuilding holding company of Hyundai Heavy Industries Group, continues its winning streak in the PC tanker (petrochemical carrier) sector this year as well.

Korea Shipbuilding & Offshore Engineering recently announced that it signed a construction contract for two 50,000-ton PC tankers worth approximately 90 billion KRW with a European shipping company. The contract includes an option for one additional vessel, raising expectations for further orders.

The PC tankers ordered this time measure 183 meters in length, 32 meters in width, and 10 meters in height. Construction will begin in October at the Ulsan Hyundai Mipo Dockyard, with delivery to the client scheduled for the second half of 2021.

With this contract, Korea Shipbuilding & Offshore Engineering has secured a total of 19 PC tankers orders so far this year. The company also led the market last year by securing a total of 40 PC tanker orders.

Since its establishment, Korea Shipbuilding & Offshore Engineering has built and successfully delivered over 700 PC tankers to shipowners. Currently, it holds an order backlog of 65 vessels, accounting for about 45% of the global order backlog of 145 vessels.

A representative from Korea Shipbuilding & Offshore Engineering stated, "We have earned high trust from shipowners regarding quality through the development of eco-friendly designs and the application of high-efficiency engines," adding, "We will continue our order activities steadily based on our advanced shipbuilding technology."

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