Korean Shipbuilders see Growing Order Intake near Year’s End

S. Korea Shipyard

As the year draws to a close, Korean shipbuilders are making a last-minute effort to increase their order intake.

Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding arm of Hyundai Heavy Industries Group, said on Dec. 21 that it has won orders for 10 ships worth 1.182 trillion won. The 10 vessels are three liquefied natural gas (LNG) ships worth 600 billion won, four 13,200-TEU super-large container ships, two 40,000-cubic-meter LPG carriers, and one 17,000-ton small petroleum carrier (PC).

Each of the four container ships will be 335 meters long, 51 meters wide and 27.3 meters tall. They will be built by Hyundai Samho Heavy Industries and delivered one by one starting in the second half of 2022.

Each of the three LPG ships is 180 meters long, 28.7 meters wide and 18.7 meters tall. They will be built by Hyundai Mipo Dockyard and delivered sequentially to their owners starting in the second half of 2022. The small PC will also be delivered in the first half of 2022.

On the same day, Samsung Heavy Industries also won an order for two LNG carriers worth 408.2 billion won from a shipping company in Oceania. The ships will be delivered sequentially by February 2024. They will have membrane-type cargo holds and feature smart ship solution “S Vessel,” which supports the ship’s economical and safe operations.

Industry insiders expect orders to keep coming to Korean shipbuilders until the end of the year. Clarkson Research, a market analyst for shipbuilding and shipping, predicted that orders for container ships, which began to recover rapidly from the second half of the year, will increase about 72 percent from 109 units in 2020 to 187 units in 2021.

Source: BusinessKorea

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