KSOE wins order for LNG carriers

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said that it has bagged a 971.4 billion-won (US$784 million) order to build three liquefied natural gas (LNG) carriers from an Oceanic shipper.

KSOE said Hyundai Heavy Industries Co., one of its three affiliates, will build the 200,000-cubic-meter LNG vessels at its shipyard in the southeastern port of Ulsan.

The ships will be delivered to the undisclosed shipping company in stages from the first half of 2026, KSOE said. KSOE said it marks the world’s first LNG carrier order this year.

Last year, the shipyard clinched orders to build 44 LNG vessels out of the world total of 173.

In September, global market researcher Clarkson Research Service predicted the world’s LNG ship orders to reach 83 this year.

KSOE, the subholding company of shipbuilding, oil refining and machinery conglomerate HD Hyundai, has three subsidiaries — Hyundai Heavy Industries, Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries.