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Korea Shipbuilding & Marine Engineering wins orders for 4 LNG carriers and ultra-large crude oil carriers for 600 billion won

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Input 2020.12.15 18:03 | Revision 2020.12.15 18:04

Hyundai Heavy Industries (009540)Korea Shipbuilding & Marine Engineering, the group’s midship holding company, has won orders for two liquefied natural gas (LNG) carriers and two extra-large crude oil carriers (VLCC). The contract amount is about 600 billion won.-

A trial run of a super-sized crude oil carrier built by Hyundai Heavy Industries. / Provided by Korea Shipbuilding & Marine Engineering

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On the 15th, Korea Shipbuilding & Marine Engineering announced the fact of the construction contract. According to Korea Shipbuilding & Marine Engineering, it has won an order for an LNG carrier worth 204.1 billion won each from a shipping company in Europe and a shipping company in Bermuda. The construction of Hyundai Heavy Industries and Hyundai Samho Heavy Industries is planned to be transferred in 2024.

Korea Shipbuilding & Marine Engineering also signed a contract to build two VLCCs worth 195.2 billion won with shipping companies in Asia. It is produced by Hyundai Samho Heavy Industries and is scheduled to be delivered to shipping companies in 2022.

On the previous day, Korea Shipbuilding & Marine Engineering announced that it had signed a contract to build four VLCCs worth 400 billion won with a European shipping company. They won a contract worth 1 trillion won in two days. Until the contract, Korea Shipbuilding & Marine Engineering achieved approximately 68% of this year’s target of 11 billion dollars, winning orders for 98 vessels and $7.5 billion this year.

An official from Korea Shipbuilding & Marine Engineering said, “Inquiries about various types of ships, including VLCC, are continuing,” and “We will do our best to secure additional work in the remaining period.”

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