Korea Shipbuilding & Offshore Engineering Wins Order for Two Ultra-Large LPG Carriers Worth 183 Billion KRW

A very large LPG carrier built by Hyundai Heavy Industries and delivered in 2016. Photo by Korea Shipbuilding & Offshore Engineering

[Asia Economy Reporter Choi Dae-yeol] Korea Shipbuilding & Offshore Engineering, the intermediate holding company for shipbuilding under Hyundai Heavy Industries Group, announced on the 13th that it has signed a contract to build two ultra-large liquefied petroleum gas (LPG) carriers for 183 billion KRW.

This contract was made with KSS Shipping for ultra-large LPG carriers with a capacity of 86,000㎥. The vessels, measuring 230m in length, 32.25m in width, and 23.75m in height, will be constructed at Hyundai Heavy Industries in Ulsan and are scheduled for sequential delivery starting from the first half of 2023.

These ships are equipped with LPG dual-fuel propulsion engines, enabling compliance with the International Maritime Organization's strengthened sulfur oxide emission regulations without the need for scrubbers, which are exhaust gas reduction devices. They are efficiently designed to increase maximum cargo capacity by 2,000㎥. The company explained that this is the maximum capacity that can pass through the old Panama Canal.

Korea Shipbuilding & Offshore Engineering has secured orders for 34 out of 58 LPG carriers ordered worldwide this year, accounting for about 60%. A company official stated, "With the economic recovery, demand for LPG and LNG is expected to increase," adding, "We will further accelerate our efforts to secure orders for gas carriers."

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