Hyundai Group on a Winning Streak

Hyundai Heavy Industries Group is starting the year on a high note having secured multiple new contracts worth over USD 228 million.

The company’s subsidiary Hyundai Samho Heavy Industries has won an order for the construction of a large crude oil carrier worth KRW 109.2 billion (USD 93.5 million).

The shipbuilder did not reveal the identity of the owner, disclosing solely that the client is based in Europe.

The vessel is scheduled for delivery in June 2021.

Furthermore, the group’s Hyundai Mipo Dockyard revealed in an exchange filing that it has inked a construction contract for four petrochemical carriers with Pan Ocean.

The value of the contract is KRW 157.4 billion (USD 134.7 million). The quartet is slated for completion by September 2021.

The latest ordering spree comes on the back of last week’s reports that clients of Central Shipping placed an order for 2 Suezmax tankers at Hyundai Heavy Industries. According to Clarksons Platou Shipbroking, both vessels are expected to deliver in 2021.

World Maritime News Staff