Hyundai Samho Wins LPG Carrier Gig as Parent Sets Targets for 2020

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Hyundai Samho Heavy Industries has secured a contract for the construction of two LPG carriers from an unnamed European client, the Korean shipbuilding company said in an exchange filing.

Under the terms of the KRW 193.4 billion contract (USD 166 million), the duo is set for delivery by the end of April 2022.

In a separate announcement, Hyundai Samho said that it had won a contract for the construction and installation of a container crane with the Port of Busan Corporation, worth KRW 131.9 billion (USD 113 million).

The contracts come just days after Hyundai Samho revealed an order for the construction of an LNG carrier and a very large crude oil carrier booked by undisclosed Asian clients. Based on market reports, SK Shipping is being linked to the LNG carrier order.

The two ships have a combined worth of KRW 323.7 billion (USD 280.2 million).

Hyundai Sets Targets for 2020

Korea Marine & Marine Engineering Co., Ltd. (formerly Hyundai Heavy Industries) has disclosed its objectives for the 2020 order book.

The combined target for the company’s three shipbuilding arms, Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries stands at USD 15.9 billion, Yonhap reports.

Under the total, Hyundai Samho is seeking to obtain USD 4.25 billion worth of orders, Hyundai Mipo is targeting USD 3.65 billion worth of deals, while HHI has set sights on USD 8 billion worth of orders.