Korea Shipbuilding & Offshore Engineering Co., Ltd.(HD KSOE) announced on January 5 that it has signed a contract for the construction of two 88,000 m3 ultra-large liquefied petroleum gas carriers (VLGCs) with a European regional shipowner, with an order value of KRW 303.2 billion (approx. USD 231), which is expected to be delivered to the owner in the first half of 2027 in sequence.
This series of VLGCs is 230 meters in length, 32.25 meters in breadth and 23.85 meters in height, and will be built by HD Hyundai Heavy Industries Ulsan Shipyard. This is the first order taken by HD Hyundai Group in 2024, officially kicking off the order book of 2024.
According to industry sources, the Europe-based shipowner is Norwegian gas shipowner Solvang, and the order increases the owner’s VLGC order book at the Ulsan shipyard to seven vessels.
On July 7, 2023, Solvang signed a contract with HD Hyundai Heavy Industries for the construction of 3+2 88,000 m3 VLGCs, enabling it to end a six-year order drought. The two optional vessels, effective August 2023, are also being built by HD Hyundai Heavy Industries, Ulsan, and are scheduled for delivery by July 2027.