J-Ocean Industries has successfully secured contracts for six new tankers. On September 21, the company announced it signed letters of intent (LOIs) with shipowners in Oceania for two 157,000-ton crude oil carriers and four 114,000-ton oil and petrochemical product carriers.
Previously, J-Ocean Industries had signed an LOI for four 114,000-ton oil and petrochemical product carriers in June, bringing the total planned orders for the year to ten.
This latest order is significant as it demonstrates J-Ocean Industries' proactive approach in securing work even before completing the acquisition of the Gunsan Shipyard. The company has been following up on the asset transfer agreement signed with HD Hyundai Heavy Industries in June. With this successful order before the acquisition is finalized, the shipyard's normalization is expected to accelerate.
Support from Chairman Cha Jeong-hoon, who is leading the acquisition of the Gunsan Shipyard, has also led to additional inquiries from overseas shipowners, raising expectations for further orders and regional economic revitalization.
J-Ocean Industries attributed the success of this order to its capability in building large vessels and its commitment to 'fast delivery.' Shipping companies prioritize early delivery for operational deployment, and the company has presented competitive delivery timelines based on its production capacity and efficient process management.
Both types of vessels contracted are next-generation designs developed by HJ Industries. Notably, the 114,000-ton oil and petrochemical product carriers are designed to meet International Maritime Organization environmental regulations while allowing for the selective transport of crude oil and petroleum products, maximizing efficiency and profitability based on market demand.
A representative from J-Ocean Industries stated, "Thanks to the support of the citizens of Gunsan and North Jeolla Province, who have been waiting for the revival of the Gunsan Shipyard, we have secured ten planned orders for this year. While there is much to do, including securing refund guarantees, yard and equipment refurbishment, and workforce expansion, we will do our utmost to ensure that the Gunsan Shipyard becomes a catalyst for regional economic revitalization."
* This article has been translated by AI.
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