Korea Shipbuilding & Offshore Engineering Wins Orders for 10 Eco-Friendly Ships Worth 1.7 Trillion Won

Hyundai Samho Heavy Industries delivered an LNG-powered large container ship to Singapore EPS in September 2020.

[Asia Economy Reporter Choi Dae-yeol] Hyundai Heavy Industries Group's intermediate shipholding company, Korea Shipbuilding & Offshore Engineering, announced on the 4th that it has secured orders for 10 vessels worth 1.67 trillion KRW. The first orders of the new year include large liquefied natural gas (LNG) powered container ships, LNG carriers, and small container ships.

The LNG-powered large container ships contracted with a European shipping company consist of six vessels of 15,000 TEU class (1 TEU equals one 20ft container). They will be built at Hyundai Samho Heavy Industries in Yeongam, Jeollanam-do, and delivered sequentially starting from the first half of 2024. The company explained that the ships are equipped with LNG dual-fuel engines to meet the International Maritime Organization (IMO)'s strengthened environmental standards. Last year, the company secured orders for 58 LNG-powered vessels, the highest number among shipbuilders worldwide.

The large LNG carrier measures 289.9m in length, 46.1m in width, and 26.3m in height, with a capacity of 174,000 cubic meters. The contract was made with an Asia-based shipping company, and the vessel will be built at Hyundai Samho Heavy Industries with delivery targeted for the second half of 2024. It is equipped with LNG dual-fuel engines and LNG reliquefaction technology, enabling economical operation. The three feeder container ships (1,800 TEU class) ordered together will be constructed at Hyundai Mipo Dockyard and are scheduled for delivery to the shipowner starting from the second half of next year. Various eco-friendly technologies will be applied.

A company official stated, "Due to the strengthening of global environmental regulations, interest and inquiries about eco-friendly ships have steadily turned into actual orders since last year," adding, "With a stable order backlog secured, we will focus all efforts on selective orders prioritizing eco-friendly, high value-added vessels considering profitability."

Meanwhile, Korea Shipbuilding & Offshore Engineering secured a total of 226 vessels (including 3 offshore units) worth approximately 22.8 billion USD (provisional) last year, exceeding the annual target of 14.9 billion USD. This year, the order target for the shipbuilding and offshore sector is set at 17.44 billion USD.

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