S. KOREAN SHIPYARD BAGS US$409 MILLION NEW BUILD ORDER.

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-Korea Shipbuilding bags US$409 million order for 10 petrochemical carriers.
-The 50,000-ton vessels will be built by Hyundai Mipo Dockyard Co., and delivered by February 2023.
-A new shipyard building is in progress in Saudi Arabia together with Bahri.

Korea Shipbuilding & Offshore Engineering Co. clinches a 485 billion-won (US$409 million) order to build 10 petrochemical carriers, reports Yonhap News Agency.

Petrochemical carriers order

South Korean shipyard Korea Shipbuilding & Offshore Engineering Co. has clinched a US$409 million order from a Saudi shipper to build 10 petrochemical carriers.

-Vessels building and delivery

The 50,000-ton vessels will be built by Hyundai Mipo Dockyard Co., a subsidiary of Korea Shipbuilding.

They will be delivered to Saudi state shipping company Bahri by February 2023, Korea Shipbuilding said in a regulatory filing.

About Korea Shipbuilding

Korea Shipbuilding is the shipbuilding holding firm of South Korea’s Hyundai Heavy Industries Group.

The firm has so far captured orders to build 51 very large crude oil carriers, petrochemical carriers and container vessels from Bahri.

New shipyard

The shipbuilder is currently working to build a shipyard in Saudi Arabia together with Bahri, Saudi Aramco and United Arab Emirates-based oil rig builder Lamprell.

Shipyards orders

As of now, Korea Shipbuilding has bagged orders to build 34 petrochemical ships, with its petrochemical ship backlog reaching 63 vessels. The shipyard clinched deals to build 40 petrochemical carriers last year.

Source: Yonhap News Agency