KSOE Wins Orders Worth KRW3tr in One-week Period in January
Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company of Hyundai Heavy Industries Group, announced on Jan. 10 that it has signed shipbuilding contracts worth 1.3 trillion won with three clients in Europe and Central and South America.
KSOE will build nine vessels -- four 16,000-TEU dual fuel propulsion container ships, one 174,000-cubic-meter LNG carrier, and four 2,500-TEU container ships.
The large container ships will be built in Ulsan by Hyundai Heavy Industries Co. and delivered one by one to the clients by the end of the first half of 2025. The vessels will be loaded with dual fuel propulsion engines that can use both eco-friendly fuels and diesel.
The LNG carrier is 297 meters long, 46.4 meters wide, and 26.5 meters tall. It will be built by Hyundai Samho Heavy Industries in Yeongam, South Jeolla Province, and delivered to the client by the end of the first half of 2025. The 2,500-TEU container ships will be built in Ulsan by Hyundai Mipo Shipyard and delivered sequentially in the second half of 2023.
Earlier on Jan. 4, KSOE booked orders for 10 ships worth 1.67 trillion won, including six 15,000-TEU LNG-powered container ships, one 174,000-TEU LNG carrier and three 1,800-TEU container ships. The shipbuilder landed orders worth 3 trillion won during a one-week period after the start of the New Year.
Clarkson Research, a shipbuilding and shipping market analysis agency, expects global ship orders to reach 36 million CGT in 2022, down slightly from 2021. However, it forecast that newbuilding prices will rise in 2022 as orders for eco-friendly ships such as LNG-powered carriers are on the uptick.