Korean shipbuilders reveal new round of boxship orders

Although many shipyards around the globe have been facing order stagnation caused by COVID-19 crisis, the situation seems to be different for South Korean shipbuilders that just secured another round of containership orders.

On 9 March 2021, Samsung Heavy Industries (SHI) revealed in a stock exchange filing a KRW 794.2 billion (nearly $700 million) order placed by an unnamed Asian company.

Under the deal, SHI will construct a total of five 15,000 TEU containerships scheduled for delivery by the end of January 2024.

The vessel quintet will be powered by liquefied natural gas (LNG), Yonhap News Agency reported.

So far this year, SHI received orders worth $2.4 billion for 19 vessels, representing 31 per cent of the shipbuilder’s $7.8 billion orderbook target for 2021.

What is more, Korea Shipbuilding & Offshore Engineering Co (KSOE) announced orders for four container vessels.

Amounting to KRW 568.1 billion, the orders were received by Liberian shipowners.

As disclosed, Hyundai Heavy Industries (HHI), part of KSOE, will build the four 15,900 TEU units.

Two newbuilds are expected to be handed over by 30 May 2023 and another two by 30 November 2023.