Korea Shipbuilding & Offshore Engineering Secures Order for 3 LPG Carriers Worth 227 Billion KRW

Ultra-large LPG carrier built by Hyundai Heavy Industries

[Asia Economy Reporter Choi Dae-yeol] Korea Shipbuilding & Offshore Engineering, a mid-tier holding company of Hyundai Heavy Industries Group, announced on the 12th that it has secured an order worth 227 billion KRW for three liquefied petroleum gas (LPG) carriers from shipping companies in the Asia-Oceania region.

The vessels ordered this time include two ultra-large LPG carriers with a capacity of 86,000㎥ and one medium-sized carrier with a capacity of 40,000㎥. The ultra-large LPG carriers, measuring 230m in length, 32.25m in width, and 23.75m in height, will be built by Hyundai Samho Heavy Industries and are scheduled for sequential delivery starting in the first half of 2023. These vessels are sized to pass through the old Panama Canal, with a maximum cargo capacity increased by 2,000㎥ compared to existing ships. Equipped with LPG dual-fuel propulsion engines, they can comply with strengthened sulfur oxide emission regulations without the need for scrubbers, which are exhaust gas reduction devices.

The company stated, "With the recent increase in global cargo volume, more shipowners prefer to transit through the old Panama Canal to avoid congestion in the new Panama Canal," adding, "By optimizing the design, we have increased cargo capacity, which will enhance the transportation efficiency of the vessels."

The medium-sized LPG carrier will be built at Hyundai Mipo Dockyard in Ulsan and is scheduled for delivery in the second half of 2023. This company has secured 23 out of 37 LPG carriers ordered worldwide this year, accounting for 62% of the total.

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