ajunews Sunday,3 March 2024

HD Hyundai's holding company to receive $207 mln gas tanker order from Middle East

By Kim Joo-heon Posted : March 20, 2023, 20:13 Updated : February 6, 2024, 02:05

[Courtesy of Korea Shipbuilding & Offshore Engineering]

SEOUL --  Korea Shipbuilding & Offshore Engineering, the holding company of HD Hyundai, has sealed an order worth 270.1 billion won ($207 million) to supply gas tanker ships to a Middle Eastern transportation company. Two large carriers will be delivered by August 2026 to Arab Maritime Petroleum Transport Co.

KSOE's spokesperson told Aju Daily on March 20 that the company has grabbed a total of 49 orders worth $6.51 billion in 2023, which includes the agreement with Arab Maritime Petroleum Transport (AMPTC). AMPTC was established in 1972 by members of the Organization of Arab Petroleum Exporting Countries (OAPEC).

According to KSOE, the group won a total of 193 ships worth $23 billion in 2022, achieving 132.4 percent of its initial annual contract goal of $17.4 billion. The company said in December 2022 that it received a 91.5 billion ($69.9 million) won order for an LPG tanker from an Oceania country, without disclosing the name of the nation.

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