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KSOE wins nine container ship orders worth US$1.1 b

Author:   Posttime:2022-01-13

KOREA Shipbuilding & Offshore Engineering (KSOE) has reported a total of nine orders on January 10 valued at KWR1.33 trillion (US$1.1 billion), including the options for four 16,000 TEU container ships capable of operating on methanol, exercised by Maersk valued at approximately $700 million.

Some analysts have suggested that the attractive price was part of the motivation for Maersk exercising the option at this time. Shipbuilding prices have been on the rise in part due to strong steel pricing in 2021.
Overall, KSOE is targeting orders valued at $17.4 billion this year up from its target of $14.9 billion for 2021. The surge in newbuilding orders last year however drove the value of KSOE's reported new orders in 2021 to $22.8 billion.
So far the company has received three separate orders from shippers in Europe and Latin America.
One is the Maersk options for four vessels to be built at Hyundai Heavy Industries in Ulsan. A second order for four 2,500 TEU dual-fuel ships will be built at Hyundai Mipo Dockyard in Ulsan and delivered by the second half of 2023.
The third order is for a 174,000 cubic meter liquefied natural gas (LNG) carrier to be built by Hyundai Samho Heavy Industries in Jeonnam and delivered by the first half of 2025.
Clarkson Research predicted that this year`s global ship orders will reach 36 million CGTs, slightly lower than last year, but orders for eco-friendly ships such as LNG carriers will increase, with prices for vessels remaining strong.

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