ULSAN < invest Korea

According to Yonhap News,

(SEOUL=Yonhap News) Hyundai Heavy Industries Co., a major shipyard in Ulsan, said Friday that it has clinched a deal to build two very large crude carriers.

Under the deal estimated at US$166 million, Hyundai Heavy Industries is set to hand over the vessels to Sinokor Merchant Marine Co., a Korean shipping firm, in 2019.

Separately, Hyundai Heavy Industries is nearing a deal to build two very large crude carriers for the Greek ship owner Kyklades Maritime Corp. The deal, expected to be signed by the end of this year, is estimated at $163 million.

The Korean shipyard is also reportedly in talks with the Russian shipping company Sovcomflot and Greece's TMS Tankers over deals to build up to four liquefied natural gas carriers.

In the January-November period, South Korean shipbuilders clinched combined orders equal to 5.74 million compensated gross tons (CGTs) to build a total of 152 vessels, accounting for 29.4 percent of the global market.

South Korean shipbuilders trailed behind their Chinese rivals, which maintained the No. 1 position in terms of orders worldwide with 7.13 million CGTs, or 324 ships, during the same period, according to global research firm Clarkson Research Services.

entropy@yna.co.kr

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