Korea Shipbuilding & Offshore Engineering Secures Orders Worth $230 Million for 5 Vessels Including LPG Carriers

LPG carrier built by Hyundai Mipo Dockyard

[Asia Economy Reporter Choi Dae-yeol] Hyundai Heavy Industries Group's intermediate shipholding company Korea Shipbuilding & Offshore Engineering announced on the 3rd that it has signed a contract to build five medium-sized vessels for $230 million (2.562 billion KRW).

The contract was made with shipping companies in Africa and Europe, consisting of two medium-sized liquefied petroleum gas (LPG) carriers and three petrochemical product (PC) carriers. The LPG carrier contract includes an option for one additional vessel of the same type.

Korea Shipbuilding & Offshore Engineering plans to build these LPG carriers and PC carriers at Hyundai Mipo Dockyard in Ulsan and deliver them sequentially to the shipowners starting from the first half of next year. Since 2019, Hyundai Heavy Industries Group has secured orders for 21 out of 22 medium-sized LPG carriers ordered worldwide, accounting for 95% of the total.

A company official stated, "Our accumulated technological expertise and extensive construction experience are being recognized in the market, leading to continuous inquiries for orders across various ship types."

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