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Korea Shipbuilding bags order for 10 petrochemical carriers

According to Yonhap News,

SEOUL, Aug. 21 (Yonhap) -- South Korean shipyard Korea Shipbuilding & Offshore Engineering Co. said Friday it has clinched a 485 billion-won (US$409 million) order from a Saudi shipper to build 10 petrochemical carriers.

The 50,000-ton vessels will be built by Hyundai Mipo Dockyard Co., a subsidiary of Korea Shipbuilding, and will be delivered to Saudi state shipping company Bahri by February 2023, Korea Shipbuilding said in a regulatory filing.

Korea Shipbuilding said it has won the deal thanks to mutual trust and its experience of having built more than 800 petrochemical carriers so far, the largest in the world.

Korea Shipbuilding, the shipbuilding holding firm of South Korea's Hyundai Heavy Industries Group, has so far captured orders to build 51 very large crude oil carriers, petrochemical carriers and container vessels from Bahri.

The shipbuilder is also working to build a shipyard in Saudi Arabia together with Bahri, Saudi Aramco and United Arab Emirates-based oil rig builder Lamprell.

So far this year, Korea Shipbuilding has bagged orders to build 34 petrochemical ships, with its petrochemical ship backlog reaching 63 vessels, or 46 percent of the global total. The shipyard clinched deals to build 40 petrochemical carriers last year.

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Source: Yonhap News (Aug 21, 2020)

* This article was translated from Korean. 
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