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Korea Shipbuilding & Offshore Engineering Co. clinched a 485 billion-won order from a Saudi shipper to build 10 petrochemical carriers, each weighing 50,000 tons.
The vessels would be built by its subsidiary Hyundai Mipo Dockyard Co. and delivered to Saudi-based shipping firm Bahri by February 2023.
Korea Shipbuilding, the shipbuilding holding firm of South Korea's Hyundai Heavy Industries Group, attributed mutual trust and its experience in building petrochemical carriers in clinching the deal. It has so far built over 800 petrochemical carriers.
The company has so been awarded deals to build 51 petrochemical carriers, huge crude oil carriers, and container vessels by Bahri.
The South Korean shipbuilder is also working to build a shipyard in Saudi Arabia with Bahri, Saudi Aramco, and UAE-based oil rig builder Lamprell.
This year, the shipyard has bagged orders to build 34 petrochemical ships, with its backlog reaching 63 petrochemical ships or 46 percent of the global total.
Korea Shipbuilding clinched deals to build 40 petrochemical carriers last year.
