Korea Shipbuilding & Offshore Engineering Secures Order for 7 Ships Worth 582 Billion KRW

A 13,800 TEU ultra-large container ship delivered by Hyundai Heavy Industries to the Greek company Enesel.

[Asia Economy Reporter Hwang Yoon-joo] Korea Shipbuilding & Offshore Engineering, the shipbuilding holding company of Hyundai Heavy Industries Group, has succeeded in securing orders for seven vessels worth a total of 582 billion KRW.

Korea Shipbuilding & Offshore Engineering recently announced that it signed construction contracts with European shipping companies for four ultra-large container ships of 13,200 TEU class, two medium-sized LPG carriers of 40,000 cubic meters (㎥) class, and one small PC vessel of 17,000 tons class. The contract also includes options for additional orders of container ships and LPG carriers of the same class, raising expectations for further orders in the future.

The four container ships ordered this time are all 335 meters long, 51 meters wide, and 27.3 meters high, and will be built at Hyundai Samho Heavy Industries and delivered sequentially starting from the second half of 2022.

In particular, these container ships feature a refrigerated container loading capacity more than twice that of previous models, in line with global market trends. They are also equipped with an energy-saving device (Hi-PSD) that reduces carbon dioxide emissions by 3% and improves economic efficiency by up to 6%.

Clarkson Research, a shipbuilding and shipping market analysis firm, stated in its 'Clarksons Forecast Club' report released at the end of September that container ship orders had stagnated due to a decline in cargo volume caused by the COVID-19 pandemic, but are expected to rapidly recover in the second half of the year, increasing from 109 vessels this year to 187 vessels next year, a rise of about 72%.

Order news has also continued in other vessel types. The medium-sized LPG carriers ordered by Korea Shipbuilding & Offshore Engineering this time are 180 meters long, 28.7 meters wide, and 18.7 meters high, to be built at Hyundai Mipo Dockyard and delivered sequentially to the shipowners starting from the second half of 2022. The single small PC vessel is also scheduled to be delivered to the shipowner in the first half of 2022.

A representative of Korea Shipbuilding & Offshore Engineering said, “We are receiving inquiries across various vessel types, so additional orders within the year are expected,” and added, “With advanced technology that can respond to global trends, we will further solidify Hyundai Heavy Industries Group’s position in the market.”

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