Korea Shipbuilding Signs 270 Billion KRW LNG Carrier Construction Contract with European Shipping Company

by Moon Chaeseok

Published 21 Apr.2022 10:59(KST)

"85 Ships Ordered and 12 Trillion Won Secured This Year... Achieving 55.8% of Annual Target"

Sea trial of an 180,000 cubic meter (㎥) class LNG carrier built by Korea Shipbuilding & Offshore Engineering, the shipholding company of Hyundai Heavy Industries Group. (Photo by Korea Shipbuilding) [Image source=Yonhap News]

[Asia Economy Reporter Moon Chaeseok] Korea Shipbuilding & Offshore Engineering announced on the 21st that it has signed a contract to build one large liquefied natural gas (LNG) carrier worth 278.3 billion KRW with a European shipping company. The contract period is from the 20th to December 8, 2025.

The ship ordered this time is estimated to be of 174,000 cubic meters (m³) class, the company said.

A company official explained, "It will be built at Hyundai Samho Heavy Industries in Yeongam-gun, Jeollanam-do, and is scheduled to be delivered in the second half of 2025."

Korea Shipbuilding said it has secured a total of 85 vessels (9.74 billion USD, approximately 12.023 trillion KRW) this year, achieving 55.8% of its annual target.

By ship type, Korea Shipbuilding reported that it has secured 64 container ships, 4 PC ships, 12 LNG carriers, 1 liquefied petroleum gas (LPG) carrier, 2 pure car and truck carriers (PCTC), and 2 roll-on/roll-off (RORO) cargo ships.