- HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has received a KRW 458.8 billion (US$312 million) order from an Asian shipping company for two ethane carriers.
- The vessels, expected to have a capacity of 100,000 cubic meters, will be built at HD Hyundai Heavy Industries’ Ulsan shipyard and delivered by December 2028.
- With this contract, HD KSOE’s total orders for 2024 have reached $3.58 billion, accounting for 19.8% of its annual target of $18.05 billion.
- The company also secured a $370 million deal for four 18,000 cbm LNG bunkering vessels from an African shipping firm.
HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has announced securing a KRW 458.8 billion (US$312 million) order from an Asian shipping company to construct two ethane carriers, as reported by Yonhap on March 4. The vessels will be built at HD Hyundai Heavy Industries’ Ulsan shipyard and are scheduled for delivery by December 2028, according to iMarine.
Shipowner and Vessel Specifications
While HD KSOE did not disclose details about the shipowner or the specific vessel design, industry sources indicate that the buyer is Malaysian shipping major MISC and that each carrier will have a capacity of approximately 100,000 cubic meters.
HD KSOE’s Position in the Shipbuilding Industry
As a subholding company of HD Hyundai (formerly Hyundai Heavy Industries Holdings), HD KSOE oversees three major shipbuilding affiliates:
- HD Hyundai Heavy Industries
- HD Hyundai Mipo Dockyard
- HD Hyundai Samho Heavy Industries
With this latest contract, HD KSOE’s 2024 order volume now stands at $3.58 billion, reaching 19.8% of its annual target of $18.05 billion.
Additional Contracts and Market Performance
In addition to the ethane carrier order, HD KSOE recently secured a contract with an African shipping company to construct four 18,000 cbm LNG bunkering vessels, valued at KRW 538.3 billion (US$370 million), with an average unit price of US$92.5 million.
During 2024, HD KSOE received orders for 181 vessels worth $20.56 billion, surpassing its original $13.5 billion target and achieving 152.2% of its annual goal. These deals reinforce HD KSOE’s strong performance in the global shipbuilding industry and its leadership in eco-friendly vessel construction.
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Source: iMarine
