KSOE adds new ships to its orderbook

South Korean shipbuilder Korea Shipbuilding & Offshore Engineering (KSOE) has won an order for the construction of a 174,000 cbm liquefied natural gas (LNG) carrier.

Illustration. Courtesy of HSHI

Placed by an unnamed European shipping company, the order is worth KRW 278.3 billion (about $224.5 million), KSOE revealed in a stock exchange filing on 21 April 2022.

To be built by KSOE unit Hyundai Samho Heavy Industries (HSHI), the vessel is planned to be delivered by 8 December 2025, according to the shipbuilder.

KSOE’s orderbook currently stands at 85 ships, representing 56 percent of the company’s $17.44 billion annual order target, Yonhap News Agency reported.

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Last week, Hyundai Samho Heavy Industries also signed a contract with Liberia-based and Middle Eastern shipping companies to build two LNG-powered pure car and truck carriers (PCTCs) and six containerships. The order has a total value of KRW 1.283.6 trillion.

The six 7,900 TEU boxships and the two 7,500 CEU PCTC are slated for delivery in the first half of 2025.

As informed by HSHI, the global large-scale PCTC market experienced a prolonged slump with orders for only twelve units worldwide from 2016 to 2020. However, the situation changed in 2021 with 38 PCTCs ordered worldwide as the demand for eco-friendly ships increased and the replacement period for old ships arrived.

“The demand for replacement with eco-friendly ships is increasing with expectations for an increase in global cargo volume,” an official from HSHI said.

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