Korea Shipbuilding clinches 582 billion won deal to build 7 vessels for European firms

Korea Shipbuilding & Offshore Engineering clinched a 582 billion won deal to build seven vessels for European shipping companies.

The contract was for four 13,200-twenty-foot-equivalent-unit container vessels, two 40,000-square-meter liquefied petroleum gas carriers, and a product carrier.

The four container vessels, designed with twice the freezing container space, will be produced by Hyundai Samho Heavy Industries to be delivered by the second half of 2022.

The vessels have also been equipped with Hi-PSD, an energy solution that would reduce CO2 emissions by 3 percent and raise the cost efficiency by 6 percent.

A company official also revealed that they are hopeful of winning additional orders this year as there are inquiries about various types of vessels.

According to Clarksons Research’s September report, purchases of container vessels have been depressed in recent months due to the reduced cargo volumes affected by the COVID-19 pandemic. But t

The container vessel market is bouncing back, and Clarksons Research forecast that global container ship purchases would grow by about 72 percent from 109 units this year to 187 units next year.