South Korea’s KSOE strikes new orders for containerships, LNG carrier

South Korea’s Korea Shipbuilding & Offshore Engineering has revealed new orders for one LNG carrier and dual-fuel containerships.

KSOE’s unit Hyundai Samho Heavy Industries would build the 174,000-cbm LNG carrier for a European firm, KSOE said in a filing to the stock exchange.

This deal has a price tag of about 258.8 billion won ($217 million) and HSHI would deliver the LNG carrier by March 2025.

KSOE said in a separate filing that Hyundai Heavy would build four containerships for a European owner as well and deliver the vessels by May 2025.

HHI would construct these dual-fuel ships for 839.7 billion won ($702 million).

Besides these orders, KSOE said in a statement it had won an order from a firm in Latin America to build four 2,500 TEU containerships. Hyundai Mipo will build these vessels and deliver them sequentially by the second half of 2023.

The price tag for all of the orders for the nine ships reaches 1.33 trillion won ($1.11 billion), KSOE said.

It did not disclose any additional information regarding the new orders.

Shipbuilding sources said that Denmark’s giant Maersk could be behind the order for four containerships. The firm has already ordered eight methanol-powered 16,000 TEU vessels and this order would boost the total to 12.

These new orders come just a week after KSOE revealed an order worth about $1.39 billion for one LNG carrier, six 15,000 TEU containerships, and three feeder containerships.

KSOE has set a target for this year of $17.4 billion, compared to $14.9 billion last year. The shipbuilder and its three units have secured in total $22.8 billion worth of orders during 2021.

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