Korea Shipbuilding bags W986b in orders from Oceania

Korea Shipbuilding & Offshore Engineering Co. said Tuesday that it has signed a combined 986 billion won ($890.5 million) worth of orders to build 10 very large crude-oil carriers (VLCCs).

Three VLCCs will be built by its unit Hyundai Samho Heavy Industries Co. and seven VLCCs will be built by its unit Hyundai Heavy Industries Co., Korea Shipbuilding said in a regulatory filing.

The 300,000-ton vessels will be delivered by March 2023 to unidentified customers, the company said.

With the deals, Korea Shipbuilding has obtained orders to build 21 VLCCs, taking up 70 percent of the global VLCC market so far this year, the company said. (Yonhap)