Skip to main content

KSOE expands its orderbook

Submitted by Seaweblive on Fri, 04/22/2022 - 20:45

Korean shipbuilder Korea Shipbuilding & Offshore Engineering (KSOE) has received an order for the construction of a liquefied natural gas (LNG) carrier with a capacity of 174,000 cubic meters (cm).

The order, placed by an unidentified European shipping business, is valued at KRW 278.3 billion (about $224.5 million), according to a stock exchange filing made by KSOE on April 21, 2022.

Following construction by Hyundai Samho Heavy Industries (HSHI), the vessel is expected to be completed on or before December 8, 2025, according to the shipbuilder's schedule.

According to the Yonhap News Agency, KSOE's order book presently contains 85 ships, which accounts for 56 percent of the company's annual order target of $17.44 billion dollars.

Hyundai Samho Heavy Industries also signed a deal with shipping companies located in Liberia and the Middle East last week for the construction of two LNG-powered pure car and truck carriers (PCTCs) and six containerships. There is a total of KRW 1.283.6 trillion in value in the order.

The six boxships with a capacity of 7,900 TEU and the two PCTCs with a capacity of 7,500 CEU are scheduled to arrive in the first half of 2025.

According to HSHI, the global large-scale PCTC market has been experiencing a prolonged downturn, with orders for only twelve units placed worldwide between 2016 and 2020, according to the company. But the situation changed in 2021 when a total of 38 PCTCs were purchased worldwide, as the demand for environmentally-friendly ships surged and the replacement era for older ships approached.

“The demand for replacement with eco-friendly ships is increasing with expectations for an increase in global cargo volume,” an official from HSHI said.
News Category