Korea Shipbuilding & Offshore Engineering Signs 540 Billion KRW Contract to Build 9 Ships

Sea trial of the ultra-large crude oil carrier built by Hyundai Heavy Industries

[Asia Economy Reporter Choi Dae-yeol] Korea Shipbuilding & Offshore Engineering, the intermediate holding company for shipbuilding under Hyundai Heavy Industries Group, announced on the 22nd that it has signed a contract to build 9 vessels worth 540 billion KRW.

The contract, made with shipping companies in Asia, Europe, and Africa, includes 3 Very Large Crude Carriers (VLCC) of 300,000 tons, 2 medium-sized Liquefied Petroleum Gas (LPG) carriers of 40,000 cubic meters, 3 medium-sized Product Carriers (PC) of 50,000 tons, and 1 container ship of 1,800 TEU. The VLCCs, measuring 328 meters in length, 60 meters in width, and 29.6 meters in height, will be built at Hyundai Samho Heavy Industries in Yeongam, Jeollanam-do, and will be delivered sequentially starting from the second half of next year.

According to the company, out of the 31 VLCCs ordered worldwide last year, it secured more than half, totaling 17 vessels. The 3 PCs, 1 container ship, and 2 LPG carriers ordered this time will be built at Hyundai Mipo Dockyard and Hyundai Vietnam Shipbuilding. They will be delivered sequentially to the shipowners starting from the first half of 2022 and the second half of 2023, respectively.

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