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            august 23, 2019

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New Year orderbooks get off to a flying start among shipbuilders in S Korea


Shipbuilders in South Korea have been continuously winning new orders since the beginning of the year with Hyundai Mipo Dockyard Co receiving an order for four medium-range (MR) tankers from Central Shipping Group, controlled by Greek shipowner Evangelos Pistiolis.
The exact value of the deal has not been disclosed, however, each vessel is estimated to cost US$38 million, reported Business Korea.
It noted that according to TradeWinds, Shell is planning to place an order for large-scale tankers on Hyundai Mipo Dockyard under its Project Solar. Previously, the oil giant placed an order for up to 30 vessels for the project.
The 30 ships include sixteen 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 won a $215 million deal with Angelicoussis Shipping Group in Greece for one liquefied natural gas floating storage and regasification unit (LNG-FSRU).
Furthermore, Daewoo Shipbuilding announced earlier this month that it has obtained an order for four very large crude carriers (VLCCs) from a shipowner in the Oceanian region. This is the first order received this year and is worth KRW409.50 billion (US$364.49 million). The VLCCs are scheduled to be delivered to the shipowner at the end of February 2021.

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