South Korea’s KSOE reveals orders for four LNG carriers

Hyundai Heavy and Hyundai Samho have each won orders to build two liquefied natural gas (LNG) carriers, according to Korea Shipbuilding & Offshore Engineering.

KSOE said on Tuesday that the deals are worth about 1.17 trillion won ($910 million) or some $227.5 million per vessel.

HSHI will deliver two 174,000-cbm LNG carriers to an unidentified Asian shipowner by August 2025.

On the other side, HHI will build the two vessels for an Asian shipowner as well and deliver them by March 2025.

KSOE did not disclose the name of the Asian firm.

Malaysia’s Petronas is probably behind these new orders, according to shipbuilding sources.

One source told LNG Prime on Tuesday that South Korea’s SK Shipping had ordered these four vessels for Petronas charter.

KSOE and its units won orders for 95 ships worth about $11.18 billion this year.

The shipbuilder has set a target for this year of $17.4 billion, compared to $14.9 billion last year. It secured in total $22.8 billion worth of orders during 2021.

(Article updated to add more information regarding the orders.)

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