Oil & Gas

03 Nov 2020

KSOE Receives Order for up to Four LNG Carriers

03 Nov 2020  by Livia Gallarati   

Korean Shipbuilding & Offshore Engineering (KSOE) has secured a building order for two 174,000m³ LNG carriers, with options for another pair.

The order was placed by a European firm, with delivery expected to start in the second half of 2022, KSOE said. The vessels will be built by Hyundai Heavy Industries (HHI), a unit of KSOE, at its shipyard in Ulsan.

The firm order for the first two carriers was valued at 425bn South Korean won ($187mn), in line with other LNG carriers ordered from HHI and Hyundai Samho Heavy Industries, another subsidiary of KSOE.

KSOE has secured orders to build eight LNG carriers so far this year, it said. It received orders for four carriers, placed by a Bermuda-based owner and a European firm, in July, ending a seven-month streak without any orders. It received an order for a further two carriers from South Korea's Korea Line in August.

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