Korea Shipbuilding & Offshore Engineering Wins Order for Six Philippine Offshore Patrol Vessels Worth 750 Billion KRW

Actively Seeking Overseas Market Entry in the Trap Sector

A rendering of the offshore patrol vessel ordered by Korea Shipbuilding & Offshore Engineering from the Philippine Department of National Defense

[Asia Economy Reporter Oh Hyung-gil] Korea Shipbuilding & Offshore Engineering has secured an order worth 744.9 billion KRW from the Philippine government for six offshore patrol vessels.

Korea Shipbuilding & Offshore Engineering announced that on the 27th, it signed a construction contract for six 2,400-ton offshore patrol vessels with the Philippine Department of National Defense at the Department of National Defense building in Manila, Philippines.

The offshore patrol vessels have a displacement of 2,400 tons, a length of 94.4 meters, a width of 14.3 meters, a maximum speed of 22 knots, and a cruising speed of 15 knots. They will be built at Hyundai Heavy Industries in Ulsan and delivered by 2028.

Notably, with a cruising range of 5,500 nautical miles (11,900 km), they can conduct long-duration operations. They are equipped with one 76mm naval gun and two 30mm secondary guns, and feature a helideck capable of operating helicopters and unmanned aerial vehicles.

This is a customized contract reflecting the Philippine side's requirements, based on Hyundai Heavy Industries' experience in building frigates delivered to the Philippines. Hyundai Heavy Industries plans to actively pursue overseas market expansion in the naval vessel sector starting with this offshore patrol vessel order.

Nam Sang-hoon, Vice President and Head of the Special Ship Business Division at Hyundai Heavy Industries, said, "We are pleased that our experience in developing and exporting various types of naval vessels in response to global market demand has borne fruit. We will lead new markets with a technology-centered approach through a business diversification strategy and intensive investment in research and development."

Meanwhile, Hyundai Heavy Industries also signed a lifecycle support (MRO) contract on the same day for two Philippine frigates delivered in February last year and May 2020. The company plans to become a 'global top-class naval vessel solution partner' covering ship design, construction, and lifecycle management services.

Kang Sam-hyun, Vice Chairman of Korea Shipbuilding & Offshore Engineering (right), signed a construction contract for six offshore patrol vessels with Philippine Secretary of National Defense Delfin Lorenzana at the Philippine Department of National Defense in Manila, Philippines, on the 27th.