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Korea Shipbuilding secures $263m contract to build LPG / LNG carriers

12th January 2021
in News, Shipping & Port
BW Gemini with Wartsila's LPG Fuel Supply System completes sea trials

Note* - All images used are for editorial and illustrative purposes only and may not originate from the original news provider or associated company.

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Korea Shipbuilding and Offshore Engineering has secured contracts worth $263m from three firms in Liberia, Oceania, and Asia for the construction of fuel-bearing vessels.

The company said that Hyundai Samho Heavy Industries will construct a 174,000cm³ liquefied natural gas (LNG) carrier as part of a deal with a Liberian company.

The vessel has been scheduled for delivery in the second half of 2023, reported The Korea Herald. Overall, the deal has the option of building two 174,000cm³ LNG carriers and one liquefied petroleum gas (LPG) carrier for a total value of nearly $410m.

As part of the deal with an Oceania company, Hyundai Mipo Dockyard will build a 40,000cm³ LPG carrier and deliver it by the first half of 2023.

Furthermore, according to the deal with an Asian firm, Hyundai-Vietnam Shipbuilding, a Vietnamese unit of Hyundai Mipo Dockyard, will construct a 50,000t petrochemicals carrier (PC).

Korea Shipbuilding estimates the vessel delivery to take place by the first half of 2022. In a separate development, Korean Register (KR) awarded Approval in Principle (AIP) for an LNG carrier with a prismatic IMO type-B tank.

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