Photo: KSOE

KSOE bags order for two more LPG carriers

South Korean shipbuilder Korea Shipbuilding & Offshore Engineering (KSOE) continues winning new vessel orders as it unveiled another contract encompassing two liquefied petroleum gas (LPG) carriers.

As informed, the two 40,000 cbm LPG carriers will be built by Hyundai Mipo Dockyard (HMD), a unit of KSOE.

KSOE
Illustration. Image by KSOE

The order is valued at KRW 119.9 billion (about $107 million), Hyundai Mipo said in a stock exchange filing on 13 April.

The deal was signed with an undisclosed European shipping company and the newbuilds are scheduled to be delivered to their owner by 30 September 2023.

The announcement comes only a day after KSOE revealed an order for three LPG carriers. The ships, to be built by Hyundai Samho Heavy Industries, another unit of KSOE, are worth KRW 176 billion.

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KSOE has so far this year secured orders worth $5.8 billion including 73 vessels, representing 39 per cent of the shipbuilder’s annual target, according to Yonhap News Agency.