SEOUL: Korea Shipbuilding & Offshore Engineering (KSOE), the shipbuilding company of Hyundai Heavy Industries Group, has won orders for nine ships worth a total of 1.56 trillion won.

KSOE announced on Thursday that it has recently signed shipbuilding contracts with a Latin American shipping company for three 200,000 cubic meter large LNG carriers and six 8,000+ TEU containerships. The LNG carrier ordered this time is 299.8m long, 48.9m wide and 26.9m high. It will be built at Hyundai Heavy Industries in Ulsan and delivered to the shipowner by the second half of 2025.

The ships will be equipped with an LNG re-liquefaction system to maximize efficiency. Other six containerships will be constructed at Hyundai Heavy Industries in Ulsan and delivered by the second half of 2024.

According to Clarksons Research, a shipbuilding market analysis firm, the transport volume of global maritime trade is expected to reach 398.32 million tons this year, up 4.5 percent from 381.05 million tons last year.

An official from KSOE said, “As global environmental regulations have been enhanced and demand for eco-friendly fuel LNG has increased, inquiries about LNG carriers are also increasing. KSOE is aiming to lead the global market by advancing our technologies for eco-friendly ships.” (ANI/Global Economic)