KSOE Bags Orders Worth 1.3 Tril. Won in One Week
A 318,000-ton VLCC built by Hyundai Heavy Industries is in test operations.
Korea Shipbuilding & Offshore Engineering (KSOE), a holding company of Hyundai Heavy Industries Group’s shipbuilding business, are enjoying brisk orders at the beginning of the year.
KSOE has recently signed a contract with a European shipping company to build two 300,000-ton very large crude carriers (VLCCs) worth about 200 billion won, the company said on Jan. 12.
As a result, KSOE booked orders for 11 vessels worth about 1.3 trillion won, including six super container ships, one LNG carrier, one LPG ship, one PC, and two VLCCs, in a week since its first order of the on Jan. 5.
KSOE Wins Orders for 3 Ships Worth 288 Bil. Won
Korea Shipbuilding & Offshore Engineering (KSOE), the holding company of Hyundai Heavy Industries Group’s shipbuilding sector, has won orders for three vessels worth 288 billion won.
The company announced on Jan. 11 that it has signed a contract with shipping companies in Liberia, Oceania and Asia to build a 174,000-cubic-meter LNG carrier, a 40,000-cubic-meter liquefied petroleum gas (LPG) carrier and a 50,000-ton petroleum carrier (PC). The contracts include options for two equivalent LNG carriers and one LPG carrier. When these options are included, the total value of the deals rises to 450 billion won.
The LNG carrier will be built at Hyundai Samho Heavy Industries in Yeongam, South Jeolla Province. It will be 289.9 meters long, 46.1 meters wide and 26.3 meters tall. The company will deliver it to its client by the second half of 2023. The vessel will feature an LNG re-liquefaction system that re-liquefies boil-off gas to enhan
Korean shipbuilders announced their first big deals of the new year on Tuesday, on top of a rising tide of demand for eco-friendly shipping. The Korea Shipbuilding & Offshore Engineering, an affiliate of Hyundai Heavy Industries Group, won a 900-billion-won ($827 million) contract to build six container ships, each measuring 15,000 twenty-foot equivalent unit (TEU) .
Korean Shipbuilders Sweep New Orders Worth US$13.9 Bil. in Q4 of 2020
Korean shipbuilders made an impressive comeback in the fourth quarter of 2020 by bagging new orders worth US$13.9 billion.
The large order intake represented a dramatic turnaround from the order drought that the shipbuilders had suffered until the end of the third quarter due to the COVID-19 pandemic. The value of the orders booked in the fourth quarter is double the cumulative total of the US$7 billion recorded in the first three quarters of 2020.
Korea Shipbuilding & Offshore Engineering (KOSE), a shipbuilding arm of Hyundai Heavy Industries Group, recorded US$5.5 billion in new order intake in the fourth quarter alone. The figure represented 55 percent of the total orders awarded to the shipbuilder in 2020.
Using Smart Technology To Drive More Sustainable Fleets CHALLENGES
Smart technology used for health and condition monitoring has significant potential to improve the safety and operational
performance of marine assets. ABS worked with Hyundai Heavy Industries Group (HHI Group) qualifying the shipyard’s new technology by issuing a Product Design Assessment (PDA) and a New Technology Qualification (NTQ) for the ‘smart’ functions they designed.
SOLUTION
Supporting the roll out of HHI Group’s smart-function solutions by providing independent verification, validation and issuing product approval in accordance with the requirements of the ABS Guide for Smart Functions for Marine Vessels and Offshore Units.