- Korean shipbuilding trio poised to sweep new LNG carrier orders in H2
- most of their new shipbuilding orders were taken by large containers and liquefied petroleum gas (LPG) carriers in the first half
South Korea`s three largest shipbuilders are expected to continue growing in new order intake in the second quarter as a state-run oil company in Qatar is set to place definitive orders for super-large liquefied natural gas (LNG) carriers within this year says an article on Pulse.
‘Impressive turnaround’
Korea Shipbuilding and Offshore Engineering (KSOE), Daewoo Shipbuilding & Marine Engineering (DSME), and Samsung Heavy Industries made an impressive turnaround from order droughts early last year by bagging new orders worth $27.43 billion for 254 vessels so far this year, according to the local shipbuilding industry.
The figure represented a nearly 35 percent increase from the total orders awarded to the three shipbuilders in 2020. The number of vessels to be built also increased by 43.5 percent over the same period. By company, KSOE ranked first with $14.8 billion worth of new orders for 163 vessels, followed by Samsung ($6.5 billion, 51 vessels), and DSME ($6.13 billion, 40 vessels).
Trio bags large orders
Most of their new shipbuilding orders were taken by large containers and liquefied petroleum gas (LPG) carriers in the first half. This year alone the trio won orders for 99 container vessels and 54 LPG carriers. In the second half, their order books are expected to be filled with LNG carriers from Qatar.
In June last year, the three shipbuilders agreed on a mega billion-dollar deal that commits them to reserve ship construction capacity to meet future orders from Qatar Petroleum, which can lead to more than 100 LNG vessels. Given the contract remains effective until 2027, Qatar Petroleum is expected to start placing orders from the second half of this year.
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Source: Pulse
