Korea Shipbuilding secures orders for 3 LPG ships worth 227 billion won

Korea Shipbuilding & Offshore Engineering Co. (KSOE) received a combined 227 billion won worth of orders from an Asian firm to build three liquefied petroleum gas (LPG) carriers.

Hyundai Samho Heavy Industries Co. will deliver two 86,000-cubic meter LPG carriers in the first half of 2023, while Hyundai Mipo Dockyard will deliver a 40,000-cubic meter LPG carrier by the second half of 2023.

According to KSOE, the world’s leading shipbuilder, it has bagged orders for 62 percent of LPG carriers ordered globally this year.

KSOE secured orders for 68 ships amounting to $5.5 billion in the first quarter, achieving 37 percent of its $14.9 billion annual target.

It has Hyundai Heavy Industries, Hyundai Samho Heavy Industries Co., and Hyundai Mipo Dockyard under its wing.

South Korean players accounted for 2.21 million CGT or 78 percent of the global volume for LNG and LPG carriers last year, up from 60 percent in 2019 and 63 percent in 2020.