LNG

Gaztransport & Technigaz (GTT) of France has been hired by HD Korea Shipbuilding & Offshore Engineering (HD KSOE) to design the tank for a new LNG carrier, built on behalf of Purus. Hyundai Samho Heavy Industries (HSHI) is assembling the vessel, due for delivery in Q4-2027.

South Korean shipbuilders, the global leaders in the construction of liquefied natural gas carriers, ranked second in 2023 in terms of new global orders for all types of vessels for a third straight year, though increased their share of the LNG newbuilds market.

The early 2023 LNG shipping market has opened with a “trembling uncertainty” in the LNG freight market with charter rates in the first few weeks alone falling 30 percent in the Atlantic Basin and 16 percent in the Far East,

South Korean shipyards outperformed their Chinese counterparts in terms of orders for liquefied natural gas carriers during 2022, though finished second to China in overall shipyard orders.

May 17 (LNGJ) - Korea Shipbuilding & Offshore Engineering (KSOE), the country’s largest shipyard group, said it won $910 million of orders to build four LNG carriers. Two KSOE affiliates, Hyundai Heavy Industries and Hyundai Samho Heavy Industries, will construct two 174,000 cubic metres capacity vessels each and deliver them to an Asian buyer from the first half of 2025.

Feb 21 (LNGJ) - Korea Shipbuilding and Offshore Engineering (KSOE), the world’s largest shipbuilder by order backlog, said it won another LNG carrier order worth $217 million. KSOE has won 37 ship orders so far in 2022 valued at a combined $4.37 billion, accomplishing 25 percent of its annual goal of $17.4Bln of orders. KSOE’s three affiliates are Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries.

Korea Shipbuilding and Offshore Engineering Co. (KSOE) the world's biggest shipbuilder by order backlog, has secured deals to build five vessels, including LNG-powered containerships, a week after the European Commission vetoed the nation’s huge shipbuilding merger between Hyundai and Daewoo.

Oct 25 (LNGJ) - Korea Shipbuilding and Offshore Engineering (KSOE), the main holding company of Hyundai Heavy Industries and affiliates, has obtained a 383 billion South Korean won ($325 million) order to construct four LNG-powered petrochemical carriers.

   The 4,000 deadweight-ton vessels to be built by HHI are scheduled to be delivered to a customer in the Middle East by the first half of 2024. KSOE said it had already surpassed its annual order target for all vessels of US$14.9 billion for the three shipyard companies in the group, HHI, Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard.

South Korean shipbuilders have managed to overtake Chinese shipyards in the May index of orders, led by more liquefied natural gas carrier newbuild placements, while more LNG tanker orders continued to be received in June.

June 2 (LNGJ) - Korea Shipbuilding and Offshore Engineering (KSOE), the world's leading shipbuilding group comprising Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries, said orders have come in from five customers for 12 ships valued at $1.2 billion. The orders include four LNG carriers and a mid-scale liquefied petroleum gas (LPG) carrier, which will be delivered by the first half of 2024.

   At the end of May, global new orders for ships came to 17.95 million compensated gross tons (CGTs), representing 83 percent of the 21.50 million CGTs ordered last year, said KSOE, citing market data firm Clarksons.