Korea Shipbuilding & Offshore Engineering (KSOE), HD Hyundai Co.'s intermediate shipbuilding subsidiary, announced on Tuesday that it had signed a contract to construct four petrochemical product tankers for an African shipping company. The total value of the order is 237.5 billion won ($181.6 million).
The ships will be built at the Hyundai Mipo Dockyard in Ulsan in South Korea and delivered sequentially by Aug. 2025.
KSOE has already secured 41 orders worth $5.34 billion this year, representing 33.9% of its annual order target of $15.74 billion.