Korea Shipbuilding & Offshore Engineering, the holding company of Hyundai shipbuilding group, has sealed an order worth 270.1 billion won ($207 million) to supply gas tanker ships to a Middle East-based company. Two large carriers will be delivered by August 2026 to Arab Maritime Petroleum Transport Co.

Korea Shipbuilding’s spokesperson told Aju Daily on March 20 that the company has grabbed a total of 49 orders worth $6.51 billion in 2023, which includes the agreement with Arab Maritime Petroleum Transport (AMPTC). AMPTC established in 1972 is a transportation and railroad firm. It was founded by members of the Organization of Arab Petroleum Exporting Countries (OAPEC).

According to KSOE, the shipbuilding group won a total of 193 ships worth $23 billion in 2022, achieving 132.4 percent of its initial annual contract goal of $17.4 billion. The company said in December 2022 that it received a 91.5 billion won order for an LPG tanker from an Oceania country, without disclosing the name of the nation.
Source: Aju Business Daily