Top Korean shipbuilder wins ￦399.9 billion order for two carriers

Korea's top shipbuilder Korea Shipbuilding & Offshore Engineering (KSOE) said Thursday it has clinched a 399.9 billion-won ($308 million) order to build two very large ethane carriers (VLECs) for an Asian shipper.

Hyundai Heavy Industries, a KSOE affiliate, will build the vessels in its shipyard in the southeastern port of Ulsan and deliver them to the undisclosed shipping firm by the first half of 2026.

KSOE has obtained $22.82 billion worth of orders to construct 190 ships so far this year, or 130.8 percent of its yearly target of $17.44 billion.

KSOE, the subholding company of shipbuilding, oil refining and machinery conglomerate HD Hyundai, has three major affiliates — Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries.

Yonhap