Korea Shipbuilding wins contracts worth 240 billion won

Korean shipbuilding holding company Korea Shipbuilding & Offshore Engineering said Monday that it has signed a combined 240 billion won ($213 million) of orders from Africa and Europe.

Korea Shipbuilding has obtained deals to build two 300,000-ton very large crude carriers (VLCC) and a 50,000-ton petrochemicals carrier from customers in the areas, the company said.

The company did not reveal the names of the companies that placed the orders.

Under the deal, Hyundai Heavy Industries will build the VLCCs, and Hyundai Mipo Dockyard will construct the petrochemicals carrier.

The vessels are slated to be delivered starting January 2022, Korea Shipbuilding said.

Hyundai Heavy Industries and Hyundai Mipo Dockyard are units of Korea Shipbuilding.

Last month, Korea Shipbuilding won a combined 420 billion won order from Europe and Oceania to build four 300,000-ton VLCCs by the first half of 2022.

Yonhap