Korea Shipbuilding & Offshore Engineering Co., Ltd.(HD KSOE), the intermediate holding company of HD Hyundai Group’s shipbuilding business, recently announced the signing of a construction contract for two 174,000 cbm liquefied natural gas (LNG) carriers with an African shipowner. The new vessels will be built by HD Hyundai Heavy Industries and are scheduled to be delivered to the owner in February 2028, at a cost of KRW 349.1 billion (approx. USD 265 million) per vessel, with a total order value of KRW 698.1 billion (approx. USD 530 million).
Greek shipping company Evalend Shipping, led by Kriton Lendoudis, is the driving force behind the order, according to Clarkson data. The order marks an increase in Evalend’s order book to four LNG carriers, with two other vessels, also built by HD Hyundai Heavy Industries, priced at $260 million each and scheduled for delivery in the second half of 2027.
Evalend is said to have a fleet of more than 50 vessels, as well as 23 newbuildings focused on energy carriers. The additional orders for LNG carriers mean that the Greek shipowner aims to diversify its fleet and enter and expand its market share of LNG carriers.