Korea Shipbuilding & Offshore Engineering (KSOE), holding entity overseeing shipyards of South Korea’s conglomerate HD Hyundai, has added 525 billion won ($377 million) contracts for 8 ships to its swelling order book for the year.
According to KSOE on Monday, it signed a contract with two unnamed African shippers to build four 1,400 twenty-foot equivalent unit (TEU) LNG-powered container vessels and four 50,000-ton petrochemical product carriers to be delivered in stages starting in the first half and the second half of 2025, respectively.
The contract includes options for two additional vessels.
The LNG-powered container vessels – 170m long, 27.6m wide, and 15m high – will be built at Hyundai Mipo Dockyard (HMD) in Ulsan. The vessels, which are powered by dual-fuel LNG engines, satisfy the stringent International Maritime Organization (IMO) climate regulation standards.
The petrochemical product carriers -183m long, 32.2m wide, and 19.1m high – will be built by Hyundai Vietnam Shipbuilding, an HMD unit.
KSOE has so far won orders worth $20.35 billion for 176 ships, overachieving its annual target of $17.44 billion.
Shares of KSOE traded down 2.85 percent at 81,800 won on Monday afternoon.