Through its subsidiaries, Korea Shipbuilding & Offshore Engineering (KSOE) has secured two contracts worth $2.2bn (KRW2.87tn) for the construction of ten liquefied natural gas (LNG) carriers.
Under the first contract, KSOE’s affiliate Hyundai Heavy Industries (HHI) will build eight 174,000m³ LNG vessels for an undisclosed European shipping firm.
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These vessels will be constructed at HHI’s shipyard, located in the south-eastern port of Ulsan, South Korea. HHI plans to deliver the vessels by mid-November 2026.
As part of the second contract, KSOE’s other unit, Hyundai Samho Heavy Industries, will construct two LNG ships with a similar capacity for an unnamed Oceanian shipper.
These vessels are expected to be delivered by August 2026.
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KSOE has not disclosed whether these contracts are part of an agreement signed between QatarEnergy, HHI and two other Korean shipbuilders to construct more than 100 LNG vessels, worth around $19.2bn in total, through 2027.
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By GlobalDataThe other two shipbuilders in this deal are Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering.
In January, KSOE also reportedly received shipbuilding contracts worth $1.39bn (KRW1.67tn) for ten vessels.
Last month, KSOE and HHI received approval in principle (AiP) from DNV for their new waste heat-derived LNG fuel supply system.
The system can serve 300K very large crude carriers (VLCC).
