Korea Shipbuilding & Offshore Engineering Wins 208 Billion KRW Order for Ultra-Large Crude Oil Carrier

Ultra-large crude oil carrier built by Hyundai Heavy Industries

[Asia Economy Reporter Choi Dae-yeol] Korea Shipbuilding & Offshore Engineering, the intermediate holding company for shipbuilding under Hyundai Heavy Industries Group, announced on the 19th that it has signed a contract with a European shipping company to build two ultra-large crude oil carriers (VLCC) for 208 billion KRW.

This contract is for 300,000-ton class VLCCs and includes an option for one additional vessel of the same type, allowing for potential additional orders. The ships measure 330m in length, 60m in width, and 29.6m in height, and are equipped with scrubbers, an exhaust gas reduction device, to comply with environmental regulations. They will be built at Hyundai Samho Heavy Industries and are scheduled for sequential delivery starting from the fourth quarter of next year.

With this order, Korea Shipbuilding & Offshore Engineering has secured 11 out of 26 VLCCs (42%) ordered worldwide this year. In the past week alone, the company has consecutively won orders for 10 gas carriers, including two 86,000㎥ ultra-large liquefied petroleum gas (LPG) carriers, four 40,000㎥ medium-sized LPG carriers, three 174,000㎥ large liquefied natural gas (LNG) carriers, and one 18,000㎥ LNG bunkering vessel.