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KSOE wins 525 billion won of orders for eight ships

Korea Shipbuilding & Offshore Engineering (KSOE) has received a 525 billion won ($378 million) of orders from two African shippers for eight ships.

Of the eight ships ordered, four are liquefied natural gas (LNG) carriers, while the other four are product carriers (PC), or product tankers, which carry petroleum products such as gasoline, kerosene and diesel oil.

The LNG carriers will be 170 meters (557 feet) wide, 27.6 meters across and 15 meters high, and will be built at a shipyard of Hyundai Samho Heavy Industries, a KSOE subsidiary, in Ulsan. The carriers are scheduled to be delivered to the shippers starting in the first half of 2025.

The PCs, set to be 183 meters wide, 32.2 meters across and 19.1 meters high, will be built by Hyundai Vietnam Shipbuilding, a unit of Hyundai Mipo Dockyard, another subsidiary of KSOE, and be delivered to the shippers by the second half of 2025.

Orders for LNG carriers have increased 190 percent in August this year compared to the same month last year, according to Clarksons Research, a shipbuilding and shipping market analysis company. Korea swept orders for LNG carriers, with Korean shipbuilders winning all of the eight orders for LNG carriers made in August and taking 75 percent of cumulative orders between January and August this year.

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