KSOE orders 10 LNG carriers

The sub-holding company of Hyundai Heavy Industries, Korea Shipbuilding & Offshore Engineering (KSOE), received orders for 10 LNG carriers from the Qatar project, totalling roughly 3 trillion dollars.

As a result, it is anticipated that KSOE will meet its order goal for this year. On July 7, KSOE confirmed that it has inked agreements with Oceanian and European shipping firms to build ten 174,000 m3 LNG ships.

There are $2.869 trillion won worth of contracts in all.

The LNG carrier ordered this time is 299m long, 46.4m wide and 26.5m high. Eight LNG carriers, ordered by a European shipping company, will be built at the Hyundai Heavy Industries shipyard in Ulsan. The remaining two, ordered by an Oceanian shipping company, will be built at the Hyundai Samho Heavy Industries shipyard in Yeongam, Jeollanam-do.

These ships will be delivered to the owners by the second half of 2026. KSOE did not reveal the ship owners, but the contracts are reportedly parts of LNG carrier orders for the Qatar project. Qatar Petroleum (QP), a state-run oil company in Qatar, previously signed slot contracts for building more than 100 LNG carriers with the three Korean shipbuilders, including KSOE, in June 2020. The slot contract means reserves the dock in advance for new ships.

Under the project contract, Samsung Heavy Industries also won orders for 14 LNG carriers for 3.9 trillion won in June 2022, and Daewoo Shipbuilding & Marine Engineering is also waiting for additional orders after signing contracts for four ships.

For more information visit www.ksoe.co.kr