KSOE to build two product carriers for Canadian shipowner under $95.9mln deal

South Korean shipbuilding company HD Korea Shipbuilding & Offshore Engineering Co. has revealed it has signed a contract for the construction of two product carriers.

Illustration; Image credit: Hyundai Mipo Dockyard

As informed, the shipbuilder will build two petrochemical product-carrying ships. The price tag for both ships is KRW 127 billion ($95.9 million). The vessels will be constructed for an undisclosed shipowner from Canada.

The units will be built by one of the three KSOE’s subsidiaries, Hyundai Mipo Dockyard (HMD). The product carriers are slated for delivery by the end of March 2025, KSOE revealed in its stock exchange filling.

Just last week, KSOE announced it will construct two product carriers for an unnamed Asian shipowner.

The contract’s value is KRW 122.3 billion ($93.3 million), and the vessels will be delivered by the end of December 2025.

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Since the beginning of this year, the South Korean shipbuilding heavyweight scored $10.48 billion worth of orders to build 88 ships, or 66.6 percent of its yearly order target of $15.74 billion.

The contract encompasses the construction of 29 product carriers, three oil tankers, 24 containerships, 16 liquefied natural gas (LNG) carriers, 14 liquefied petroleum gas (LPG) carriers and two mid-sized gas carriers.