KSOE reveals price tag for Maersk’s eight-ship order

South Korean shipbuilding giant Korea Shipbuilding & Offshore Engineering (KSOE) has revealed the price tag for a total of eight methanol-powered containerships to be built for Danish container shipping giant Maersk.

As informed, the total price of the 16,000 TEU boxships is KRW 1.65 trillion (US$1.4 billion).

Hyundai Heavy Industries (HHI), part of KSOE, has been contracted to build eco-friendly units which will replace older vessels.

The first methanol-powered boxship will be completed in the first quarter of 2024, and the contract with HHI has an open option for four additional units in 2025.

In a separate statement, KSOE’s affiliate Hyundai Samho Heavy Industries Co. (HSHI) sealed a KRW 196.5 billion deal to build two liquefied natural gas (LNG) carriers by June 2024. Other contract details were not revealed.

South Korean shipbuilding major has already surpassed its annual order target of $14.9 billion after securing several contracts in the last couple of months.

So far, the shipbuilding group has secured $19.2 billion worth of orders, which is expected to make its shipyards busy for the next 2.5 years.