Winning Order for 3 VLGCs: Hyundai Heavy Industries Lands $220 Million Order for 3 VLGCs from Kuwait | BusinessKorea

Sunday, February 25, 2018

Ka Sam-hyun, president of Hyundai Heavy Industries (right) and Sheikh Talal Khalid Al-Ahmad Al Sabah, CEO of KTOC are signing a contract for ordering and constructing a super large LPG carrier at KTOC headquarters in Kuwait.
Ka Sam-hyun, president of Hyundai Heavy Industries (right) and Sheikh Talal Khalid Al-Ahmad Al Sabah, CEO of KTOC are signing a contract for ordering and constructing a super large LPG carrier at KTOC headquarters in Kuwait.
Seoul, Korea
26 January 2018 - 10:15am
Jung Min-hee

Hyundai Heavy Industries received a US$ 220 million order for three 84,000-cubic-meter very large gas carriers (VLGCs) from KOTC, a state-run shipping company in Kuwait.

The contract signing ceremony held at KOTC headquarters in Kuwait on January 24 was attended by Ka Sam-hyun, president of shipbuilding and marine sales at the Hyundai Heavy Industries Group, Sheikh Talal Khalid Al-Ahmad Al Sabah, CEO of KTOC and Yoo Yeon-cheol, Korean ambassador to Kuwait.

Each of the vessels ordered this time is 228 meters long and 37 meters wide. They will be built by Hyundai Heavy Industries in Ulsan and sequentially delivered to KTOC starting in 2019.

Including this order, Hyundai Heavy Industries Group, has won orders for a total of 14 vessels worth US$ 800 million so far this year. 14 are quadruple the number of ordered vessels in January of last year and the highest in four years since 2014.

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