On October 2, HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai Group’s shipbuilding business, announced that it had secured a total of KRW 881.4 billion (US$669 million) order for the construction of five new ships.
Of these, HD Hyundai Samho will be responsible for the construction of two Ultra Large Ethane Carriers (ULEC). The contract is worth US$416 million and is scheduled for delivery by September 2027.
HD KSOE has not released the name of the owner or the vessel specifications, but it is understood that the order was placed by Singapore’s East Pacific Shipping (EPS). And the new building has a specification of 150,000 cubic meters.
HD Hyundai Mipo will be responsible for the construction of 2 LPG carriers for delivery in July 2027. The owner is understood to be PascoGas and the contract price is about US$167 million with a single vessel price of about US$83.5 million.
In addition, HD Hyundai Mipo will be responsible for the construction of an LNG bunkering vessel to be delivered by May 2027 to an Asian owner.
So far this year, HD Korea Shipbuilding & Marine has received orders for 165 new vessels worth a total of US$18.6 billion, exceeding its annual target of US$13.5 billion.