Korea Shipbuilding signs ￦87.5 billion deal to build LPG carrier

Korea Shipbuilding & Offshore Engineering said Tuesday it has signed an 87.5-billion-won ($79 million) deal with Korean shipper KSS Line to build a liquefied petroleum gas (LPG) carrier.

Under the deal, the 91,000-cubic meter (3.2 million cubic feet) vessel to be built by its affiliate Hyundai Heavy Industries will be delivered during the second half of 2022, the company said.

The shipbuilder also has an option to construct more same-sized LPG carriers, Korea Shipbuilding said.

There have been steady inquiries from customers over LPG carriers as the rates of LPG carriers were on the rise, the company added.

Korea Shipbuilding, the subholding company of Hyundai Heavy Industries Holdings, has three shipbuilders — Hyundai Heavy Industries, Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard — under its wing.

Yonhap