Hyundai Mipo wins 80.2 billion won chemicals carrier deal from Europe

Hyundai Mipo Dockyard Co. has won an 80.2 billion won order to build two petrochemical carriers for a European company to be delivered by March next year.

The mid-sized shipyard is one of three shipbuilders, including Hyundai Heavy Industries, Hyundai Samho Heavy Industries Co., under the Korea Shipbuilding & Offshore Engineering Co., the sub-holding company of Hyundai Heavy Industries Holdings Co.

Korea Shipbuilding has won orders worth $1.4 billion for 14 ships so far this year.

Last week, Korea Shipbuilding signed an 87.5 billion won deal with a Korean shipper KSS Line Ltd. to build a 91,000-cubic meter liquefied petroleum gas carrier.

Hyundai Heavy Industries Co. will deliver the vessel in the second half of 2022.

Korea Shipbuilding is given the option to construct more same-sized LPG carriers.

Shipping rates for LPG carriers are on the rise, prompting steady inquiries from customers over shipbuilding orders.