KSOE scores order for LNG carrier duo

South Korean shipbuilding giant Korea Shipbuilding & Offshore Engineering (KSOE) has received an order for the construction of two liquefied natural gas (LNG) carriers.

An LNG carrier built by HHI. Photo: KSOE

The order, valued at KRW 617.3 billion (about $477 million), has been placed by an undisclosed Oceanian shipowner.

The construction work will be performed by KSOE’s affiliate Hyundai Samho Heavy Industries (HSHI).

The newbuilds are slated for delivery by April 2026, KSOE said in a stock exchange filing.

This April, the South Korean major also secured orders from undisclosed European shipping firms to build two LNG carriers of identical size under different contracts.

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The ships will also be constructed by KSOE’s unit HSHI.

KSOE’s orderbook currently stands at 111 ships worth $13.54 billion, according to Yonhap News Agency. With the new orders placed, the firm achieved 77.6 percent of its yearly order target of $17.44 billion.

To remind, in April, HSHI also inked 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 six 7,900 TEU boxships and the two 7,500 CEU PCTC are slated for delivery in the first half of 2025.