KSOE lands 140-billion-won contract for three ships

A liquefied petroleum gas ship manufactured at Hyundai Mipo Dockyard. [KSOE]

Korea Shipbuilding & Offshore Engineering (KSOE) secured a 140-billion-won ($122 million) deal to supply three ships to companies based in Singapore and Liberia.

KSOE recently struck the deal to supply a 40,000 cubic meter (1.41 million cubic square) ship that runs on liquefied petroleum gas and two 50,000-ton petrochemical carriers, the company announced Friday.

The vessels will be built by Hyundai Mipo Dockyard, a subsidiary of Korea Shipbuilding, in Ulsan and will be gradually delivered starting in March 2022.

The new ships will be equipped with a scrubber to meet the International Maritime Organization’s 2020 regulations that mandate a maximum sulphur content of 0.5 percent in maritime fuels globally, down from the previous 3.5 percent.

A scrubber reduces sulfur oxide emissions to reduce the damage shipping imposes on the environment.

“Orders on various types of vessels are being obtained based on our technical skills and experience in [ship] construction,” said a KSOE spokesperson in a statement. The company “will continuously invest effort to get more work through active business activities.”

BY JIN MIN-JI [jin.minji@joongang.co.kr]