KSOE announces new orders

by Port News Editorial Staff

KOREA Shipbuilding & Offshore Engineering has announced that it has recently been awarded contracts worth $510 million.

A total of three separate contracts for building three Very Large Crude Carriers at $90 million each. Delivery is scheduled for the second half of 2022.

KSOE has also signed agreements to build two LPG carriers, each with a 40,000 cubic meter capacity, three 50,000 dwt product tankers and an 1800 TEU containership.

Earlier this month, the South Korean shipbuilder announced that it had cancelled orders for a total of 10 VLCCs. According to the group, the failure of the buyer, an undisclosed party linked to the Everest Shipping Group, to make an initial payment was the decisive factor in terminating the contract.

Translation by Giles Foster

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