Korea Shipbuilding & Offshore Engineering (KSOE) has disclosed that two shipping companies have signed up five newbuildings in total, with a combined value of KRW 511bn ($430m).

The identity of the companies behind the newbuilding contracts were not disclosed, other than to say that they are from Asia.

The contracts were for three LNG-fuelled 7,900-teu container ships and two 50,000-dwt product tankers.

KSOE said the post-panamax container ships will be delivered from the first half of 2024 while the MR vessels will be handed over in the second half of next year.