KSOE won KRW 384 Billion for 6 newbuilds

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KSOE won KRW 384 Billion for 6 newbuilds

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▶ Concluded a contract to build 2 LPG carriers, 2 PC carriers, and 2 Con-ships with a Liberia shipping company

▶ LPG dual fuel engine, equipped with nitrogen oxide reduction device to respond to environmental regulations

▶ 61% of global orders for LPG carriers, “We will expand orders to meet customer needs”


Korea Shipbuilding & Marine Engineering, the intermediate holding company of Hyundai Heavy Industries Group, succeeded in winning orders for six ships worth a total of KRW 384 billion.

Korea Shipbuilding & Marine Engineering (KOSPO) recently joined forces with shipping companies in Liberia, Asia, and Oceania, respectively, for one 91,000 cubic meter (m³) class LPG carrier, one 86,000 cubic meter (m³) class LPG carrier, two 50,000 ton class PC carriers, and 2,800 It announced on the 24th (Monday) that it had signed a contract to build two TEU-class container ships.

The LPG carriers ordered this time will be built at Hyundai Samho Heavy Industries in Yeongam, Jeollanam-do, and delivered to ship owners sequentially from the first half of 2023.

These ships are eco-friendly ships equipped with LPG dual fuel propulsion engines, and they can respond to the IMO's strengthened sulfur oxide emission regulations without a scrubber, an exhaust gas reduction device.

According to Clarkson Research, a shipbuilding and shipping market analysis agency, 59 LPG carriers were ordered worldwide this year, and Korea Shipbuilding & Marine Engineering (KOSPO) is leading the market with 36 vessels (61% of them). As of May, the number of orders for LPG carriers around the world is 14 more than the number of LPG carriers ordered during the past year (45).

News of orders continued for other ship types as well. The two PC ships and two small container ships ordered by Korea Shipbuilding & Marine Engineering will be built by Hyundai Vietnam Shipbuilding and Hyundai Mipo Dockyard, respectively, and delivered from the second half of 2022. These ships are equipped with nitrogen oxide reduction devices (SCRs).

An official from Korea Shipbuilding & Marine Engineering said, “As the world economy is entering a recovery phase, orders are being received across various types of ships. ” he said.
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