Hyundai Samho Boosts Orderbook with 5 New Ships

Business & Finance

August 26, 2019, by World Maritime News

South Korean shipbuilder Hyundai Samho Heavy Industries, part of Hyundai Heavy Industries (HHI), has received orders for the construction of five vessels.

Illustration; Source: Flickr – under the CC BY 2.0 license; Image by: Jasmine Halki

The orders include two liquefied petroleum gas (LPG) carriers and three petrochemical carriers, Hyundai Samho said in separate stock exchange filings on August 26.

The first contract, worth KRW 197.3 billion (USD 162.6 million), has been awarded by an undisclosed Asian shipowner. The 90,000 cbm petrochemical LPG pair is expected to be delivered by November 8, 2021.

The second order, which amounts to KRW 210.5 billion (USD 173.5 million), was placed by another unnamed Asian shipowner. The three 115,000 dwt PC vessels are scheduled for delivery by September 9, 2021.

Hyundai Samho recorded sales of KRW 1.6 trillion in H1 2019, a decrease of 35 percent from the corresponding period last year. However, the shipbuilding unit has seen its operating profit rise, according to Yonhap.

World Maritime News Staff

Hyundai Samho Bags Order for Crude Carrier Pair