Photo: Illustration. Image Courtesy: KSOE

KSOE wins order for VLCC pair

The orderbook of South Korean shipbuilding giant Korea Shipbuilding & Offshore Engineering (KSOE) continues to grow with two additional very large crude carriers (VLCCs).

Illustration. Image Courtesy: KSOE

On 12 January, the shipbuilder unveiled a KRW 197.5 billion ($180.1 million) contract for the construction of the VLCC pair.

The order was placed by an undisclosed shipping company from Europe.

The ships will be built by KSOE’s unit Hyundai Heavy Industries (HHI) and delivered to their owner by 31 August 2022, KSOE said in a stock exchange filing.

In 2020, KSOE received a total of 27 VLCC orders, accounting for 65 per cent of global orders for this vessel type, according to Yonhap News Agency.

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In the first days of 2021 only, KSOE secured orders for eleven units, valued at about KRW 1.3 trillion.