KSOE takes orders worth W1.3 tri. in one week

A Hyundai Heavy Industries container ship that has been delivered to Enesel in Greece / Courtesy of Hyundai Heavy Industries

By Kim Hyun-bin

Korea Shipbuilding & Offshore Engineering (KSOE) has been on a roll, inking 11 shipbuilding deals this year alone worth 1.3 trillion won.

The company signed the latest deal with a European company to build two oil tankers worth 200 billion won ($182 million).

The KSOE acts as the subholding company for Hyundai Heavy Industries in the shipbuilding sector.

The 300,000-ton oil tankers ― 330m long, 60m wide and 29.7m high ― are set to be built by its affiliate Hyundai Heavy Industries and scheduled to be delivered to an unidentified customer within the first half of 2022, KSOE said.

KSOE announced its first procurement of the year on January 5 and within a week it inked a total of 11 deals consisting of six container ships, one LNG transport ship, one LPG ship, one PC ship and two VLCC vessel worth 1.3 trillion won.

This comes as a continuation of last year's success with Korea Shipbuilding receiving 27 very large crude-oil tanker orders, which accounts for 65 percent of global orders in the shipbuilding sector.

Korea Shipbuilding has three shipbuilders under its belt ― Hyundai Heavy Industries, Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard.

"Starting this year we have continuously been successful in procuring shipbuilding deals and we hope it can lead to the recovery of the stagnant global shipbuilding market," a KSOE official said. "With our technology and construction expertise we will work to procure more deals."

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