- Korean builder wins $1.3bn order for seven boxships.
- Deliveries to run through late 2029.
- Annual order tally reaches $6.9bn with 39 vessels booked.
A prominent shipbuilder from Korea has just inked a massive contract worth ₩1.92 trillion (around $1.3 billion) to build seven container vessels for an undisclosed owner in Asia. This deal is set to unfold from November 2025 to November 2029, with deliveries happening in stages throughout that timeframe. Interestingly, this contract represents about 19% of the shipbuilder’s latest annual revenue, reports Port News.
Strong Year-to-Date Ordering Activity
Thanks to this new agreement, the total orders for the year have surged to approximately $6.9 billion. The order book for 2025 now boasts 39 vessels, including LNG carriers, shuttle tankers, container ships, ethane carriers, and crude oil tankers, along with a preliminary contract for an offshore production facility.
Order Backlog Continues to Grow
The shipyard’s backlog has now swelled to 132 vessels, valued at around $28.2 billion. Local analysts believe the builder has already hit over 70% of its annual order target of $9.8 billion, with the potential to surpass it if a floating LNG project is finalised before the year wraps up.
Background on the Korean Shipbuilder
Founded in 1974, this company operates extensive shipbuilding facilities on Geoje Island and focuses on constructing LNG carriers, container ships, offshore units, drillships, and FPSOs, all as part of a major South Korean industrial group.
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Source: Port News
