Korea Shipbuilding wins ship orders totaling 704 bln won

SEOUL– Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Thursday it has received 704 billion won (US$583 million) worth of ship orders.

Korea Shipbuilding obtained four separate orders from shippers in Europe and Oceania to build two liquefied natural gas-powered roll-on/roll-off (Ro-Ro) ships, one LNG bunkering ship and six 2,800 twenty-foot equivalent unit (TEU) container carriers, the company said in a statement.

The ships will be delivered to the unidentified clients beginning in the second half of 2023, it said.

LNG-powered ships are regarded as environment friendly and highly fuel efficient, and demand for such vessels is on the rise due to strict regulations in the shipbuilding industry.

Korea Shipbuilding aims to win $17.4 billion worth of orders this year, higher than last year’s target of $14.9 billion. In 2021, it achieved $22.8 billion worth of orders.

KSOE is the world’s biggest shipbuilder by order backlog and has three affiliates — Hyundai Heavy Industries Co., Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co. — under its wing.

Source: Yonhap News Agency

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