Korea Shipbuilding & Offshore Engineering Wins Orders for 6 LPG Carriers Worth 348 Billion KRW

Ultra-large LPG carrier built by Hyundai Heavy Industries. Photo by Korea Shipbuilding & Offshore Engineering

[Asia Economy Reporter Choi Dae-yeol] Hyundai Heavy Industries Group's intermediate shipholding company, Korea Shipbuilding & Offshore Engineering, announced on the 24th that it has signed a contract to build six vessels for 348 billion KRW.

The vessels ordered this time include one 91,000㎥ liquefied petroleum gas (LPG) carrier for a Liberian shipping company, one 86,000㎥ LPG carrier for an Asia-Oceania based shipping company, two 50,000-ton petrochemical product carriers (PC), and two 2,800 TEU container ships.

The LPG carriers will be built at Hyundai Samho Heavy Industries in Yeongam, Jeollanam-do, and will be delivered sequentially to the shipowners starting from the first half of 2023. These eco-friendly vessels are equipped with LPG dual-fuel engines and can comply with the International Maritime Organization's strengthened sulfur oxide emission regulations without scrubbers, which are exhaust gas reduction devices. According to Clarkson Research, a shipbuilding and shipping market analysis firm, 59 LPG carriers were ordered worldwide this year, of which Korea Shipbuilding & Offshore Engineering secured over 60%, totaling 36 vessels. The number of LPG carriers ordered this year exceeds the 45 vessels ordered throughout last year.

The two PC vessels will be built at Hyundai Vietnam Shipbuilding, and the two small container ships will be constructed at Hyundai Mipo Dockyard, with deliveries starting in the second half of next year. These vessels will be equipped with selective catalytic reduction (SCR) systems to reduce nitrogen oxide emissions.

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