ULSAN < invest Korea

According to Yonhap News,

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Friday it has bagged a 252.8 billion-won (US$197.6 million) order to build two liquefied petroleum gas (LNG) carriers from an Oceanian shipper.

KSOE said in a regulatory filing that Hyundai Heavy Industries Co., one of its three affiliates, will build the very large gas carriers (VLGCs) at its shipyard in the southeastern port of Ulsan.

The LPG carriers will be delivered to the undisclosed shipping company in stages by May 2026, KSOE said.

So far this year, KSOE, a subholding company of shipbuilding, oil refining and machinery conglomerate HD Hyundai, has clinched $4.83 billion in orders to construct 33 ships, or 30.7 percent of its yearly target of $15.74 billion.

KSOE has three subsidiaries under its wing -- Hyundai Heavy Industries, Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co.

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Source: Yonhap News (Feb. 17, 2023)