Korea Shipbuilding wins 607.2 billion LNG ship order from Panama

Korea Shipbuilding & Offshore Engineering Co. has received a 607.2 billion-won order from an unidentified Panamanian shipper to build three liquefied natural gas (LNG) ships.

Hyundai Samho Heavy Industries Co., one of the holding company's shipbuilding affiliates, will build the LNG carriers by September 2024.

The two other shipbuilding affiliates of Korea Shipbuilding & Offshore Engineering Co. are Hyundai Heavy Industries Co. and Hyundai Mipo Dockyard Co.

On Monday, Korea Shipbuilding received 10 orders from European shipping companies worth 1.2 trillion won to build four large 132,000-TEU containers, three LNG carriers, two midsize 40,000-square-meter LPG carriers, and one small 17,000-ton petrochemical carrier.

Korea Shipbuilding also struck a 1-trillion-won deal with shippers in Europe, Bermuda, and Asia last week to build four 174,000-square-meter LNG carriers and two 318,000-ton very large crude carriers.

So far, the three shipyards have secured $9.4 billion worth of orders, achieving 85 percent of its $11 billion order target.