LPG carrier

KSOE snatches LPG trio

South Korean shipbuilding major Korea Shipbuilding & Offshore Engineering (KSOE) has resumed its winning streak having secured orders for three liquefied petroleum gas (LPG) carriers.

LPG Carrier/Illustration; Image credit: Hyundai Heavy Industries

KSOE’s business arm Hyundai Samho Heavy Industries has won a contract for the construction of two LPG carriers worth KRW 176 billion ($ 157 million).

The 86,000-cubic meter LPG carriers are slated for delivery by March 2023. The shipowner behind the order is an undisclosed company from Asia.

The third unit from the batch has been obtained by Hyundai Mipo Dockyard Co, Yonhap reported. The 40,000-cubic meter LPG carrier is scheduled for completion in the second half of 2023, and is worth KRW 51 billion ($ 45 million), bringing the total to $ 202 million.

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

The contract is being revealed on the heels of a joint declaration made by South Korean shipbuilders to make their business operations carbon neutral by 2050.

The participating companies, which include KSOE units Hyundai Heavy Industries, Hyundai Samho Heavy Industries, and Hyundai Mipo Heavy Industries, promised to reduce greenhouse gas emissions both from their own operations as well as their clients and suppliers.

In order to do so, the companies plan to increase the use of renewable energy in their production processes, switch focus on the construction of eco-friendly ships powered by alternative fuels and develop specialized energy monitoring systems for the shipbuilding process.