KSOE surpasses annual order target with newest deal

South Korean shipbuilding giant Korea Shipbuilding & Offshore Engineering (KSOE) said it has exceeded its annual order target after securing another deal for the construction of two LNG carriers.

On 15 July, the shipbuilder revealed the new order worth KRW 457.1 billion ($400.4 million).

The vessels will be built by KSOE’s unit Hyundai Heavy Industries (HHI) for an undisclosed Asian shipping company. They are planned to be delivered by the end of December 2021, KSOE said in a stock exchange filing.

With the latest deal, KSOE has so far this year won orders amounting to $15.2 billion, surpassing its 2021 order target of $14.9 billion.

The announcement comes only a day after KSOE bagged two separate orders for a total of four LNG carriers.

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In total, the shipbuilder added 165 ships to its orderbook in 2021.