Korea Shipbuilding & Offshore Engineering Wins 420 Billion KRW Order for Four Ultra-Large Crude Oil Carriers

[Asia Economy Reporter Park So-yeon] Korea Shipbuilding & Offshore Engineering has succeeded in securing an order for ultra-large crude oil carriers.

Korea Shipbuilding & Offshore Engineering announced on the 29th that it recently signed construction contracts for a total of four 300,000-ton class ultra-large crude oil carriers (VLCC, Very Large Crude-oil Carrier) with multiple shipping companies, including those based in Europe. The total order amount is approximately 420 billion KRW.

The vessels ordered this time measure 330m in length, 60m in width, and 29.7m in height. They feature energy-efficient specifications and are equipped with scrubbers to comply with environmental regulations. These ships will be built at Hyundai Heavy Industries in Ulsan and are scheduled to be delivered to the shipowners in the first half of 2022.

With this, Korea Shipbuilding & Offshore Engineering has secured orders for 7 out of the 16 ultra-large crude oil carriers ordered worldwide this year, capturing more than 40% of the market share.

A representative from Korea Shipbuilding & Offshore Engineering stated, "Orders have been steadily coming in based on our established eco-friendly regulatory compliance and energy-saving technologies in the ultra-large crude oil carrier sector, as well as strong relationships with customers. We are currently in negotiations with multiple parties, so additional orders are expected in the future."

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