KSOE wins $2 billion order for 12 methanol-powered ships

A container carrier built by Hyundai Samho Heavy Industries Co., one of Korea Shipbuilding & Offshore Engineering Co.'s three affiliates.

Korea Shipbuilding & Offshore Engineering (KSOE) won a 2.53 trillion-won ($2.05 billion) order to build 12 methanol-propelled large container ships from a European shipper, the company announced Wednesday.

KSOE said Hyundai Samho Heavy Industries will build the container carriers at its shipyard in the southwestern port of Yeongam.

The vessels will be delivered to the undisclosed shipping company in stages by December of 2026, KSOE said.

Methanol-powered vessels have been drawing attention from ship owners as they produce less sulfur oxide and other pollutants than existing ship oil.

KSOE has obtained orders for 47 methanol-fueled container vessels since August 2021, the largest among global shipyards.

According to Clarkson Research Service, methanol-powered vessels accounted for 21 percent of global container ship orders last year in terms of twenty-foot equivalent unit.

BY PARK EUN-JEE, YONHAP [park.eunjee@joongang.co.kr]