- HD KSOE has signed a construction contract with an Asian shipping company for two VLGCs.
- The total order amount is 340.3 billion won. The two VLGCs will be built by HD Hyundai Heavy Industries and delivered by December 2027.
HD Hyundai Heavy Industries, a subsidiary of HD Korea Shipbuilding & Offshore Engineering, has signed a contract with an Asia-based shipping company to construct two Very Large Gas Carriers (VLGCs). The contract is valued at about 340 billion won ($244 million). The vessels are scheduled for delivery by December 2027.
HD KSOE signs construction contract
This latest contract brings HD Korea Shipbuilding & Offshore Engineering’s total orders to 177 ships, surpassing its annual target of $13.5 billion by achieving $19.77 billion, or 146.4 percent of the goal. With this achievement, all of the shipbuilding subsidiaries under HD Korea Shipbuilding & Offshore Engineering exceeded their annual order targets.
In a parallel development, Hanwha Ocean disclosed that it has secured a contract with an Asia-based client to build two VLGCs, valued at about 333 billion won. The contract is set to conclude in November 2027, with the vessels being constructed at Hanwha Ocean’s Geoje site and delivered by the end of that year.
Hanwha Ocean has secured orders for 42 vessels throughout 2024, including 19 LNG floating storage and re-gasification units (LNG-FSRUs), seven Very Large Crude Carriers (VLCCs), six container ships, five Liquefied Petroleum Gas (LPG) and ammonia carriers, one offshore plant, and four special-purpose ships. These orders total approximately $8.15 billion in value.
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Source: Business Korea
