Photo: Illustration; Image credit Offshore Energy

KSOE wins order for 4 LNG-fueled chemical carriers

South Korean shipbuilding giant Korea Shipbuilding & Marine Engineering (KSOE) has received an order for the construction of four petrochemical carriers.

The order has a value of KRW 382.6 billion (about $327 million), the shipbuilder said in a stock exchange filing on 25 October.

As informed, the units will be built by KSOE subsidiary Hyundai Heavy Industries (HHI) for an unnamed Middle East-based shipowner. All four newbuilds are scheduled to be delivered by 30 April 2024.

Each newbuild will be powered by liquefied natural gas (LNG), meeting environmental regulations set by the International Maritime Organization (IMO).

The shipbuilder reportedly won 60 per cent of a total of 61 orders for LNG-fueled petrochemical carriers placed so far this year.

In mid-July 2021, KSOE already exceeded its annual order target of KRW 14.9 billion.

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