KSME Receives Two Additional Orders For LNG-Powered PCTCs Worth KRW 1.2 Trillion

Hyundai Heavy Industries (HHI) Group’s, Korea Shipbuilding & Marine Engineering (KSME) succeeded in winning orders for eight vessels worth a total of KRW 1.283.6 trillion. Korea Shipbuilding & Marine Engineering announced on the 15th (Fri) that it had recently signed a contract with a Liberia and Middle Eastern shipping company to build six 7,900TEU container ships and two PCTCs capable of transporting 7,500 vehicles.

In particular, these ships are equipped with LNG dual-fuel propulsion engines so they can respond to stricter environmental regulations of the International Maritime Organization.

The container ships ordered this time, measuring 272m in length, 42.8m in width, and 24.8m in height, will be built at Hyundai Heavy Industries in Ulsan and delivered sequentially to ship owners in the first half of 2025.

Hyundai Glovis PCTCs
Image Credits: hshi.co.kr

The vehicle carrier is 200m long, 38m wide, and 37m high, built by Hyundai Samho Heavy Industries in Yeongam, Jeollanam-do, and is scheduled to be delivered in the first half of 2025.

According to Clarkson Research, a shipbuilding and shipping market analysis agency, this year’s maritime container volume is expected to reach 214.01 million TEU, an increase of about 4% compared to last year, and accordingly, the demand for medium and large container ships is also increasing.

The global large-scale PCTC market experienced a long slump with orders for 12 units worldwide from 2016 to 2020. The market is recovering rapidly.

An official from Korea Shipbuilding & Marine Engineering said, “The demand for replacement of eco-friendly ships is increasing with expectations for an increase in global cargo volume.

Reference: hshi.co.kr

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