Korea's KSOE lands $240 mn order for LPG carriers

Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding intermediate holding company of South Korea's HD Hyundai Group, said on Monday that it has secured a 270.1-billion-won ($206-million) order to build two very large liquefied petroleum gas (LPG) carriers for Arab Maritime Petroleum Transport Co., a Kuwait-based shipping company.

The contract marks the latest win for KSOE, which has been expanding its presence in the global market for gas carriers amid rising demand for cleaner energy sources.

The company said it has achieved 41.4% of its annual order target of $15.7 billion so far this year, with orders for 49 ships, including 11 petrochemical product carriers, one tanker, 19 container ships, eight liquefied natural gas carriers and eight LPG carriers.

The two LPG carriers will be built at Hyundai Heavy Industries Co., a subsidiary of KSOE, and delivered by August 2026. The ships will have a capacity of 84,000 cubic meters each and will be equipped with advanced technologies to reduce fuel consumption and emissions.

Write to Seo-Woo Jang at suwu@hankyung.com