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Biz News Korea(Eng)
Hyundai Heavy Industries wins $220 mn order to build LPG carriers in Kuwait
- Collected
- 2018.01.25
- Distributed
- 2018.01.26
- Source
- Go Direct
![[Photo provided by Hyundai Heavy Industries Co.]](http://file.mk.co.kr/meet/neds/2018/01/image_readtop_2018_57553_15168608573184343.jpg)
[Photo provided by Hyundai Heavy Industries Co.]
The three vessels with a length of 229 meters and width of 37 meters each will be constructed at its Ulsan shipyard and delivered to the Kuwait’s state-run company starting 2019.
The company was the only shipyard in Korea that built seven very large LPG vessels each in 2016 and 2017 to demonstrate its edge in the field, said an official.
Already in the year, affiliated shipyards Hyundai Samho Heavy Industries Co. signed deals to construct six very large crude carriers (VLCCs) and very large ore carriers (VLOCs) and Hyundai Mipo Dockyard Co. five ships including petrochemical products carriers and 1,800 twenty-foot equivalent unit (TEU) container ships.
All combined, Hyundai Heavy Industries Group has clinched orders worth $800 million for 14 vessels in the first month of the year, the largest January order volume since 2014 and four times more than a year ago.
An official from the group expected that it expects more orders in liquefied natural gas (LNG), LPG and petrochemical products carriers as it has received many inquiries from ship owners since the beginning of the year. According to U.K.-based research firm Clarkson Research Services, of the total 268 very large LPG carriers in operation worldwide, 119 ships were made from dockyards of Hyundai Heavy Industries Group.
As of 2:03 p.m. on Thursday, shares of Hyundai Heavy Industries rose 0.35 percent to 141,500 won in Seoul trading.
By Woo Je-yoon and Choi Mira
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]