Hyundai Group’s shipyard holding company Korea Shipbuilding & Offshore Engineering (KSOE) has revealed a huge new floating production unit (FPU) order among its latest deals.
The South Korean shipbuilder has agreed to build the KRW 1.57bn ($1.19bn) unit for Australia’s Woodside Energy, according to the Yonhap news agency.
The 44,000-gt FPU will be constructed by KSOE subsidiary Hyundai Heavy Industries, a regulatory filing stated.
The unit will serve the Trion oil field 180 km off the east coast of Mexico from the first half of 2027.
It will be able to produce 100,000 barrels of crude oil and 4.1m cbm of natural gas per day, it said.
KSOE has also added eight vessel contracts worth a combined KRW 1.55 trillion.
These comprise two LNG carriers, two LPG ships and four pure car and truck carriers (PCTCs).
Hyundai Samho Heavy Industries will build the 170,000-cbm LNG vessels, for delivery by the end of 2027.
TradeWinds has reported NYK Line of Japan as the owner behind the deal, for a total of KRW 686.1m.
This would value each newbuilding at about $261.3m each, appearing to show a strengthening of prices for LNG carriers.
Hyundai Mipo to build LPG and PCTC vessels
Hyundai Mipo Dockyard (HMD) meanwhile will construct the PCTCs, which are 200 metres long.
A Middle Eastern shipowner has contracted the ships for delivery up to 2027.
HMD will also build the 40,000-cbm LPG vessels for a European company by 2026.
So far this year, KSOE has won $14bn of new orders to build 105 ships and one FPU.
This is 89% of its 2023 order target of $15.74bn.
