KSOE bags $311 million deal for boxship quintet

South Korean shipbuilder HD Korea Shipbuilding & Offshore Engineering Co. (KSOE) has been awarded a contract for the construction of five containerships for an undisclosed shipowner.

The vessels will be built by KSOE’s subsidiary Hyundai Mipo Dockyard (HMD) and the contract is worth KRW 414.5 billion ($311 million).

The order was placed by an unnamed shipping company from Europe. According to the firm’s stock exchange filling, the vessels will be delivered by the end of June 2026.

Local media reports reveal that KSOE has inked $10.28 billion worth of orders to build 84 vessels this year. This represents 65.3 percent of its yearly order target of $15.74 billion.

In February 2023, KSOE landed a colossal order for the construction of twelve very large container ships. The vessels will be built by KSOE’s subsidiary Hyundai Samho Heavy Industries and the contract is worth KRW 2.52 trillion ($2 billion).