S. Korea’s shipbuilders start winning new orders

Hyundai Mipo Dockyard Co. has received an order for four medium range (MR) tankers from Central Shipping Group, controlled by Greek shipowner Evangelos Pistiolis. The company hasn’t disclosed the exact value of the deal but the price of the vessel is estimated at US$38 million (42.69 billion won) per unit.

Furthermore, TradeWinds, the world’s biggest shipping news service, said that global oil giant Shell is planning to place an order for large-scale tankers on Hyundai Mipo Dockyard under its “Project Solar.” Previously, Shell is said to be placing an order for up to 30 vessels for the project. The 30 ships include 16 35,000-DWT petrochemicals carriers, eight IMO type II 50,000-DWT mid-sized crude oil carriers and six 50,000-DWT mid-sized crude oil carriers. IMO type II vessels are capable of carrying harmful substances which require measures to prevent leakage.

Daewoo Shipbuilding & Marine Engineering Co. is also under easy sail. The company has clinched a US$215 million (241.55 billion won) deal with Angelicoussis Shipping Group, the largest shipping group in Greece, for one liquefied natural gas floating storage and regasification unit (LNG-FSRU)

Daewoo Shipbuilding is also expected to win an order for three 1,400-DWT submarines from the Indonesian Navy by the end of this month.

When the submarine deal is confirmed, the company will attain 16.6 percent of last year’s target (US$7.30 billion, 8.2 trillion won) with just four ships, including one LNG-FSRU. Daewoo Shipbuilding set the target figure for this year at US$8 billion (9 trillion won). It is about 10 percent higher than last year’s target.

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