• Home
  • News
  • KSOE lands LNG carrier order worth KRW2tn from Qatar - BusinessKorea
  • 2022 August 11 17:26

    KSOE lands LNG carrier order worth KRW2tn from Qatar - BusinessKorea

    Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company of Hyundai Heavy Industries Group, won orders for seven large liquefied natural gas (LNG) carriers worth nearly 2 trillion won. The order is believed to come from Qatar, the world’s largest LNG producer, according to BusinessKorea.

    KSOE announced on Aug. 10 that it signed a contract with an Asian shipping company to build seven 174,000-cubic-meter LNG carriers. The contract is valued at 1,962.8 billion won. The client is presumed to be QatarEnergy, formerly Qatar Petroleum, Qatar's state-owned oil company. In June 2020, the company signed contracts with Korea’s big three shipbuilders, including KSOE, to secure building slots for more than 100 LNG carriers.

    Analysts estimate KSOE’s LNG carrier order intake from Qatar at 17 units. Each of the LNG carriers ordered this time is 299 meters long, 45.4 meters wide and 26.5 meters tall. They will be built at Hyundai Heavy Industries in Ulsan, Korea and delivered to the client sequentially by the second half of 2026.

    KSOE has won orders for a total of 41 LNG carriers this year, the largest number in the world. Following 21 units in 2020 and 26 units in 2021, the shipbuilder enjoys the biggest market share in the world LNG carrier market for three consecutive years. It has won orders for a total of 161 ships worth US$19.29 billion in the shipbuilding and offshore sector so far this year. It attainted 110.6 percent of this year’s target of US$17.44 billion.

    KSOE’s stellar order-taking performances significantly helped the Korean shipbuilding industry lead the world in the shipbuilding industry. Korea posted 1.16 million CGT (19 ships) of 2.1 million CGT (70 ships) in global ship orders in July, accounting for a 55 percent share, according to Clarkson Research, a British shipbuilding and shipping market analysis company. It continued to rank first in shipbuilding orders for three months in a row. From January to July of this year, Korea logged orders for 11.13 million CGT (204 ships, 47 percent), beating China with 10.7 million CGT (383 ships, 42 percent).




2022 September 30

18:05 Port of Cardiff celebrates new distribution centre lease with Owens Group
17:59 Yaroslavsky Shipbuilding Plant launches yet another multi-purpose boat of project 02220
17:28 Hoegh Autoliners offers customers carbon neutral operations
17:05 Maersk Drilling awarded contract offshore Brazil with Shell
16:57 Twelve Chinese sailors die of suspected food poisoning near Vietnam - Australian Associated Press
16:45 CMA CGM launches new early container return incentive
16:25 Kalmar’s EcoFlex rental solution to help Logent improve the sustainability of its cargo-handling activities
16:07 Container ship Sparta delivered 340 TEU of consumer goods to Baltiysk in the Kaliningrad Region
15:51 Aqaba Container Terminal announces zero-emission vision
15:27 RF Government to allocate RUB 2 billion for creation of LNG equipment prototypes
15:14 HHLA and Fraunhofer CML start IHATEC project
15:04 LR approval in principle for Maridea’s Moray Base floating wind concept
14:48 Albania implements the IMO Anti-fouling Systems Convention
14:03 Rolls-Royce and Lürssen to focus on methanol propulsion for large yachts
13:32 Successful delivery of 1800TEU container vessel M/V “ASL HONGKONG”
13:16 DNV confirms Nordseecluster wind farms will comply with German offshore regulations
13:13 Turnover of FESCO’s Far East coastal services in 8M’2022 rose by 6%, YoY
12:53 Orsted completes divestment of 50 % of Hornsea 2 Offshore Wind Farm
12:44 Handling of Belarus’ oil products in Russian ports can total 3 million tonnes in 2022
12:21 ABS and DSME team-up on decarbonization strategy
12:01 OOCL completes trial voyage with biofuel from Chevron
11:40 Ningbo Containerized Freight Index deceases by 31.0% in September 2022
11:22 POT and EMERCOM held joint firefighting exercise on oil tanker in Saint-Petersburg
11:05 Dutch fishing vessel struck anchored product tanker, oil leak
10:37 China's first 2,000-ton offshore wind power installation platform delivered in Guangzhou - China Daily
10:33 Russia convenes emergency meeting of UN Security Council on Nord Stream 1 and Nord Stream 2 gas pipeline blasts
10:09 China ports container volume rises 4.1% in January - August 2022
09:55 Delivery of second ice-class buoy laying vessel of Project BLV03 accepted in Murmansk
09:32 Crude oil futures are slightly up after a decrease at the previous session
09:32 Brazil’s CBO Group and Wartsila sign Decarbonisation Service agreement to speed up fleet sustainability
09:21 MABUX: Bunker index may turn into downward changes on Sep 30
08:34 MABUX: Bunker Weekly Outlook, Week 39, 2022

2022 September 29

18:36 Shift Clean Energy selected to electrify 17 new tugboats
18:10 Ulstein develops 8,000t foundation installation vessel
17:50 Volgotrans files suits against Lotos shipyard for over RUB 800 million in total
17:06 Vattenfall awarded major wind power project off the coast of Germany
16:44 Krasnoye Sormovo shipyard to build three cruise ships of ‘Karelia’ design
16:34 Yinson Greentech commences construction of all-electric cargo vessel
16:18 The largest shipyard in the MENA region signs a long-term agreement with Bahri Logistics
15:56 Container shipping and logistics experts Matson joins SEA-LNG
15:04 Aker Solutions joins to the Aiming for Zero Methane Emissions Initiative
14:58 Amount of cargo transported via Bosphorus rose 40% since 2005
14:36 Hoegh Autoliners joins First Movers Coalition and commits to using green fuels already by 2030
14:25 Maritime industry unites to call for earmarking of ETS revenues
13:45 Sanmar Shipyards delivers 7th tug to SAAM Towage
13:24 Port of Cork Company launches a new 13.5-hectare container terminal
12:56 Severnaya Verf shipyard launches lead factory freezer-longliner of Project MT1112XL, Gandvik-2
12:53 China delivers first VLCC equipped with four rigid sails - The Maritime Executive
12:05 Second ship of Project 03141, Kedon, left Khabarovsk Shipyard for delivery base
11:40 Mawani signs 7 agreements during the Saudi Maritime Congress
11:03 GTT receives AiP from Bureau Veritas for the design of a LNG-fuelled & “NH3 Ready” Very Large Crude Carrier
10:23 Keppel O&M secures repeat newbuild FPSO contract worth US$2.8b from Petrobras
10:10 CPC Marine Terminal handled 382 tankers by mid-September
09:48 Long-term contracted rates fell by 1.1% in September - Xeneta
09:43 State Duma approves the bill on estimation of ship construction costs
09:19 Crude oil futures show moderate decrease after growth at previous session
08:57 MABUX: Upward changes to continue in Global Bunker market on Sep 29

2022 September 28

18:30 Georgia Ports welcomes Nissan to Brunswick
18:01 Containerships increases frequency between Germany and England
17:52 Deferment of conscription for military service during mobilisation requested for those involved in bunkering of ships