Dae Sun Shipbuilding has signed an order for two 14,000-dwt multipurpose vessels with Egypt’s Alkahera Company for Ferries & Maritime Transport (KCFMT).
The South Korean shipyard did not disclose the price, but said the pair is due for delivery by the middle of 2025.
The vessels are part of a six-strong programme of newbuildings by KCFMT, which owns and operates two ferries.
Dae Sun said these are the first MPP orders it has received in 12 years, the previous being in 2011 from an Iraqi shipowner.
Dae Sun has since focused on building MR tankers and feeder container ships.
“We are switching our attention to niche ship types such as MPP as we do not want to compete with other shipyards for the common commercial ships,” said an official.
Located in Busan, Dae Sun was established in 1945 and is one of the few midsize shipyards left in South Korea.
Domestic manufacturer Dongil Steel became the major shareholder in early 2021 when it paid KRW 165bn ($138m) to state-owned Export-Import Bank of Korea for 83% of the yard’s shares.
The shipyard, which has limited capacity, is able to deliver up to 10 vessels a year.
Clarksons’ Shipping Intelligence Network shows Dae Sun has 19 newbuildings on its orderbook.
A Dae Sun official said the signing of the contract in Egypt was witnessed by transport minister Kamel Al-Wazir. KCFMT is a subsidiary of the Egyptian Ministry of Transportation.
