Hyundai Heavy Group Signs Contract for Ultra-Large LPG Carrier Worth 91 Billion KRW

[Asia Economy Reporter Park So-yeon] Hyundai Heavy Industries Group announced on the 25th that it has signed a contract with KSS Shipping to build one ultra-large liquefied petroleum gas (LPG) carrier with a capacity of 84,000㎥ for 91 billion KRW.

Since last year, Hyundai Heavy Industries Group has received orders for five LPG carriers from KSS Shipping.

Hyundai Heavy Industries Group's cumulative orders for this year are known to be 12 vessels worth 600 million USD.

The newly ordered vessel measures 230m in length, 32.25m in width, and 23.75m in height. Construction will begin this September at Hyundai Heavy Industries in Ulsan and the vessel will be delivered in August next year.

A Hyundai Heavy Industries Group official said, "With the increase in LPG cargo volume expected this year due to the rise in U.S. shale gas production, inquiries for LPG carriers continue," adding, "We will focus on expanding LPG carrier orders with our advanced technology and also increase orders for LPG-powered vessels."