Hyundai Samho Wins Order for Crude Carrier Duo

  • Business & Finance

Hyundai Samho Heavy Industries (HSHI), part of South Korea’s Hyundai Heavy Industries (HHI) group, has secured a contract for the construction of two 158,000 dwt crude carriers.

The shipbuilding deal worth KRW 158.7 billion (about USD 132.8 million) was signed with an undisclosed company from Oceania on September 23, 2019, HSHI said in a stock exchange filing.

As informed, the tanker newbuilds are scheduled for delivery by late May 2021.

Earlier this month, Hyundai Samho also received an order for the construction of an LNG carrier from the compatriot shipowner H-Line Shipping. Also in September, commodities trading giant Trafigura ordered two very large gas carriers (VLGCs) at Hyundai Samho.

In August 2019, HSHI secured shipbuilding contracts as well for two LPG and three petrochemical carriers.

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

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