HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company of HD Hyundai Group’s shipbuilding business, announced on May 3 that it has signed a contract with an African shipping company for the construction of two liquefied natural gas (LNG) carriers, with a total order value of KRW 733.4 billion ( about $538 million), and a unit cost of about $269 million.
The new LNG carriers will be built by HD Hyundai Heavy Industries and is expected to be delivered in May 2028.
A day earlier (May 2), Swiss commodities trading giant Trafigura announced that it had signed a contract for the construction of four medium-sized dual-fuel ammonia powered gas carriers from HD Hyundai Mipo, with a total order value of KRW 389.9bn ( about $286m), at a unit cost of about $71.5m, with delivery expected in November 2027.
Including the latest order, HD KSOE has taken orders for 96 new vessels valued at about $11.1 billion (about KRW 15.134 trillion), achieving 82.2% of its annual order target of $13.5 billion.
By vessel type, it includes 8 LNG carriers, 32 product tankers, 36 LPG/ammonia carriers, 1 Very Large Ethane Carrier (VLEC), 2 liquefied carbon dioxide carriers, 6 Very Large Crude Carriers (VLCCs), 3 medium-sized crude tankers, 2 PCTCs, 1 FSRU, 1 offshore unit, and 4 specialty vessels.