Korea Shipbuilding & Offshore Engineering Secures First Order of the Year for Three LNG Carriers Worth 1 Trillion Won

[Asia Economy Reporter Oh Hyung-gil] Korea Shipbuilding & Offshore Engineering has succeeded in securing its first order of the new year worth 1 trillion KRW.

Korea Shipbuilding & Offshore Engineering announced on the 17th that it has signed a construction contract worth 971.4 billion KRW for three 200,000㎥ ultra-large LNG carriers with a shipping company based in Oceania.

The LNG carriers ordered this time measure 299.8m in length, 48.9m in width, and 26.9m in height. They will be built at Hyundai Heavy Industries in Ulsan and are scheduled to be delivered sequentially starting from the first half of 2026.

[Image source=Yonhap News]

With this contract, Korea Shipbuilding & Offshore Engineering became the first in the world to secure LNG carrier orders this year. Last year, Korea Shipbuilding & Offshore Engineering secured the largest number of orders, 44 vessels, out of a total of 173 LNG carriers ordered worldwide.

Clarkson Research, a shipbuilding and shipping market analysis firm, forecasted in its 'Clarkson Forecast Club' report released last September that LNG carrier orders would reach 83 vessels this year, maintaining a robust level following last year.

A representative from Korea Shipbuilding & Offshore Engineering stated, "Inquiries for LNG carrier orders have been continuing since the beginning of the year," adding, "We will focus on securing orders for eco-friendly, high value-added vessels such as LNG carriers this year to strengthen profitability."