[Yonhap/Feb1,2023] Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Wednesday it has clinched a 2.53 trillion-won (US$2.05 billion) order to build 12 methanol-propelled very large container ships from a European shipper.

KSOE said Hyundai Samho Heavy Industries Co., one of its three affiliates, will build the container carriers at its shipyard in the southwestern port of Yeongam.

The vessels will be delivered to the undisclosed shipping company in stages by December of 2026, KSOE said.

Methanol-powered vessels have been drawing attention from ship owners as they produce less sulfur oxide and other pollutants than existing ship oil.

KSOE, a subholding company of shipbuilding, oil refining and machinery conglomerate HD Hyundai, has obtained orders for 47 methanol-fueled container vessels since August 2021, the largest among global shipyards.

According to global market researcher Clarkson Research Service, methanol-powered vessels accounted for 21 percent of global container ship orders last year in terms of twenty-foot equivalent unit.

KSOE has three subsidiaries under its wing -- Hyundai Heavy Industries Co., Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries. 

A container carrier built by Hyundai Samho Heavy Industries Co., one of Korea Shipbuilding & Offshore Engineering Co.'s three affiliates. (PHOTO NOT FOR SALE) (Yonhap)