Hyundai Heavy Industries Secures Orders for 12 Ships Worth 1.36 Trillion KRW in Two Days
[Asia Economy Reporter Hwang Yoon-joo] Korea Shipbuilding & Offshore Engineering, the intermediate holding company for shipbuilding under Hyundai Heavy Industries Group, has successfully secured orders for 12 vessels worth a total of 1.36 trillion KRW over two days.
Korea Shipbuilding & Offshore Engineering announced on the 1st that on the 28th and 31st, it signed construction contracts with five shipping companies based in Oceania, Europe, and Africa for four large LNG carriers, two ultra-large LPG carriers with a capacity of 86,000 cubic meters, one medium-sized LPG carrier with a capacity of 40,000 cubic meters, four 50,000-ton PC vessels, and one small LNG carrier with a capacity of 30,000 cubic meters.
The four large LNG carriers ordered this time will be built at Hyundai Heavy Industries in Ulsan and are scheduled to be delivered sequentially to the shipowners by the first quarter of 2024.
Orders were also received for other vessel types. The two ultra-large LPG carriers will be equipped with LPG dual-fuel propulsion engines, built at Hyundai Heavy Industries in Ulsan, and delivered to the shipowners by the first half of 2024.
Additionally, one small LNG carrier equipped with an LNG dual-fuel propulsion engine, four PC vessels, and one medium-sized LPG carrier will be constructed at Hyundai Mipo Dockyard in Ulsan and delivered sequentially to the shipowners by the second half of 2023.
According to Clarkson Research, a shipbuilding and shipping market analysis firm, the global ship orders placed this year reached 17.95 million CGT by the end of May, accounting for 83% of last year's total global ship orders of 21.5 million CGT.
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A Korea Shipbuilding & Offshore Engineering official stated, "As the global economic recovery gains momentum, inquiries are continuing across all vessel types," adding, "We plan to focus our capabilities on selective orders prioritizing profitability in the future."
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