Photo: Illustration. Image by KSOE

Hyundai Samho nets order for LPGC quartet

South Korean shipbuilder Hyundai Samho Heavy Industries Co. has won orders for four LPG carriers worth $328.7 million (KRW 364.4 billion).

The orders are spread across two contracts, one with a shipowner from Liberia, and the second one with a shipping partner from Asia. Each company has booked two newbuilds.

As disclosed in a regulatory filing, all four ships are slated for delivery in 2023.

According to Yonhap, the LPG carriers will feature 86,000-cubic-meter capacity. Other details of the design and potential fuel options were not disclosed.

Korea Shipbuilding & Offshore Engineering (KSOE), Hyundai Samho’s parent, has been on a roll over the past few months.

Just last week, it announced that Hyundai Samho Heavy Industries secured a deal to build two Suzmaxes for Sonangol Shipping Holding Limited.

The contract is valued at KRW 153.1 billion (about $137 million), KSOE revealed in a stock exchange filing on 23 April 2021.

The VLCCs are scheduled to be delivered to their owner by 27 December 2023, according to the shipbuilder.

KSOE has reportedly set a target of $14.9 billion for 2021, upping the ante from last year’s $11 billion, amid anticipated market recovery.