KSOE signs deal for two LPG carriers in Europe

Korea Shipbuilding & Offshore Engineering (KSOE) said Tuesday it has clinched a 120 billion-won ($107 million) order to build two liquefied petroleum gas (LPG) carriers.

Under the deal with a European shipping line, Hyundai Mipo Dockyard, a unit of KSOE, will deliver the 40,000-cubic-meter carriers starting in the first half of 2023, KSOE said.

The announcement of the new contract came a day after KSOE said it has obtained a combined 227 billion won worth of orders to build three LPG carriers.

So far this year, KSOE has bagged $5.8 billion worth of orders to build 73 ships, or 39 percent of its annual target of $14.9 billion.

KSOE, the shipbuilding subholding company of Hyundai Heavy Industries Group, has under its wing three shipbuilders -- Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries.
Yonhap