New ship building orders for Korean yards

Sarah Carter
Sarah Carter

02 February 2017


The New Year appears to bring fresh breeze for struggling South Korean shipyards. The Korean shipbuilders won four vessel orders in January, compared to none at all in the same month last year. Samsung Heavy Industries has won a US$230 million deal to build a floating storage and regasification (FSRU) ship. Under the deal with Norway-based Hoegh LNG Holdings Ltd., the shipyard will build the vessel by May 2019. Crude oil tanker company DHT Holdings placed an order for two very large crude carriers (VLCCs) with Korean shipbuilder Hyundai Heavy Industries worth a combined $168mln. Samsung Heavy Industries signed a $233mln contract to build a floating storage and regasification unit for Norway's Höegh LNG. Daewoo Shipbuilding and Marine Engineering, which is suffering a severe cash crunch, did not win any orders last month.