KSOE Wins Order For Two LPG Carriers

HHI

Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding arm of Hyundai Heavy Industries Group, has won an order for two LPG carriers.

KSOE announced on Nov. 25 that it has recently signed a contract worth about 116 billion won with a Singapore-based shipping company for two 40,000-cubic-meter LPG carriers.

The vessels are 180 meters long, 28.7 meters wide and 18.8 meters tall. They will be built at Hyundai Mipo Dockyard in Ulsan, Korea and delivered sequentially to the client beginning in September 2022. KOSE is also discussing additional orders with the client.

In particular, these ships are powered by dual-fuel LPG propulsion engines, which can satisfy the International Maritime Organization (IMO)’s tightened sulfur oxide emission regulations without a scrubber.

Including the latest deal, KSOE has swept 13 of the 14 medium-sized LPG ships that have been ordered worldwide since 2019.

Global seaborne LPG volume is expected to hit 104 million tons in 2020, and increase by more than 5 percent to 109 million tons in 2021, predicted Clarkson, a shipbuilding and shipping analysis firm.

Meanwhile, Hyundai Mipo Dockyard plans to deliver eight LPG carriers loaded with LPG dual fuel propulsion engines and 20-plus next-generation eco-friendly ships including LNG and methanol dual fuel propulsion ships by 2022.

Source: Business Korea

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