KSOE wins order for 7 more LNG carriers

South Korean shipbuilding giant Korea Shipbuilding & Offshore Engineering Co. (KSOE) continues to enjoy an ordering spree as it received three more orders for the construction of a total of seven LNG carriers.

As informed, the deals have a combined value of KRW 1.56 trillion ($1.4 billion).

Under the first deal worth KRW 678 billion, three LNG tankers will be built for an unnamed Asian shipping company. The vessels will be constructed by KSOE’s unit Hyundai Heavy Industries (HHI), the shipbuilder revealed in a stock exchange filing on 23 July.

The newbuild trio is slated for delivery by January 2025.

Moreover, the second order, worth KRW 462.7 billion, encompasses two vessels to be built by Hyundai Samho Heavy Industries (HSHI).

The units are planned to be handed over to an undisclosed European shipping company by the end of March 2024, according to the shipbuilder.

Finally, the third deal, valued at KRW 420.7 billion, includes two LNG carriers to be built also by HSHI.

The ship pair is scheduled to be delivered to a shipping company in Liberia by late August 2024.

Several days ago, KSOE also unveiled two new orders for the construction of four LNG carriers.

With the newest contracts, KSOE has bagged orders for 176 vessels and two offshore plants worth a combined $16.8 billion so far this year.

Last week, the shipbuilding group announced that it exceeded its annual order target worth $14.9 billion.