Korea Shipbuilding and Offshore Engineering (KSOE) has reportedly secured shipbuilding contracts worth $1.39bn (KRW1.67tn) for ten vessels.

The company received an order from a Europe-based shipper for the construction of six liquefied natural gas (LNG)-driven container ships, reported Yonhap News Agency.

These 15,000 twenty-foot equivalent unit (TEU) vessels will be delivered to the client in a phased manner, starting in H1 2024.

The shipbuilder also obtained an order from an Asian shipper for the construction of an LNG carrier, which is expected to be delivered in the second half of 2024.

Furthermore, KSOE will build three feeder container vessels for a client based in Oceania.

These ships are slated to be delivered in H2 2023.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

KSOE did not reveal the individual value of the orders.

The South Korea-based shipbuilder aims to secure $17.4bn in orders this year.

In a regulatory filing, KSOE stated that this target is 19% more than its mark of $14.9bn from last year.

KSOE owns three shipbuilding units, namely Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries.

Last July, KSOE won orders for the construction of seven LNG carriers.

The combined value of the orders stood at around $1.4bn (KRW1.56tn).

In April 2021, South Korea announced plans to invest nearly $33m (KRW36.4bn) to develop a testbed for promoting the engineering of green ships.

Ship Technology Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Ship Technology Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now