On April 17, HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai Group’s shipbuilding business, announced that the company has signed a contract with a European shipowner to build two 45,000 cubic meter liquefied petroleum gas (LPG) carriers. The total order value is approximately 230.6 billion won (US$162.6 million), and the cost of each vessel is US$81.3 million.
Although HD KSOE did not disclose the shipowner information, according to industry sources, the order came from Nieto Trading, the Dutch branch of the Mexican diversified interest group Grupo Nieto.
The new vessel will be built by HD Hyundai Mipo and is expected to be delivered to the owner in July 2027.
Including the latest order, HD KSOE has won 27 new vessel orders worth approximately US$4.31 billion this year, completing approximately 23.9% of its annual order target of US$18.05 billion.
In term of ship type, there are 12 container ships, 4 oil tankers, 4 liquefied natural gas (LNG) bunkering vessels, 2 ethane carriers, 4 liquefied petroleum gas (LPG)/ammonia carriers and 1 LNG carrier.