Within half a month, South Korea’s largest shipbuilding company HD Korea Shipbuilding & Offshore Engineering (HD KSOE) have won orders for seven new ships, with a total value of nearly $1 billion.
HD KSOE, the intermediate holding company for HD Hyundai Group’s shipbuilding business, announced on October 15 that it has signed a contract with an Oceania-based shipping company to build two very large liquid ammonia carriers (VLAC).
The total value of the order is 339.6 billion won (about $250 million). The two VLACs ordered will be built by HD Hyundai Heavy Industries and will be delivered in September 2027.
Including this order, HD KSOE has received orders for 169 new ship worth $18.84 billion this year, far exceeding its annual order target of $13.5 billion.
It includes eight LNG carriers, three LNG bunkers, 62 product tankers, 48 LPG/ ammonia carriers, 22 container ships, three ethane carriers, two liquefied carbon dioxide carriers, six VLCCS, seven tankers, two PCTCS, one Floating Storage and Regasasation Unit (FSRU), one offshore vessel and four special vessels.
Earlier this month, HD KSOE announced an 881.4 billion won (about $669 million) order to build five new vessels.
Among them, HD Hyundai Samho is responsible for the construction of two 150,000 cubic meter very large ethane carrier (ULEC), the contract value of $416 million; HD Hyundai Mipo is responsible for the construction of two 45,000 cubic meter LPG carriers under a contract value of approximately $167 million. HD Hyundai Mipo is responsible for the construction of a 12,500 cubic meter LNG bunkering vessel with a contract price of approximately $86 million.
