HD Hyundai Heavy Nets $530m Deal To Build LNG Carrier Duo

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  • HD Hyundai Heavy Industries has won a contract to build two LNG carriers worth about $530 million.
  • HD Hyundai Heavy Industries will build the two 174,000-cbm LNG tankers for an owner in Africa.

HD Korea Shipbuilding & Offshore Engineering said that its unit HD Hyundai Heavy Industries will build the two 174,000-cbm LNG tankers for an owner in Africa, according to LNG Prime.

Hyundai Heavy will deliver the vessels by May 2028.

LNG Carrier deal 

The order has a price tag of 733.4 billion won ($532 million) or about $266 million per vessel, which is the probably the highest price for a single 174,000-cbm LNG carrier for the shipbuilder.

KSOE did not reveal any additional information regarding the new order.

Hyundai Heavy won an order worth about $530 million for two LNG carriers from Greece’s Evalend Shipping in August 2023, marking the latter’s entry into the LNG sector, and another order for two LNG carriers worth about $530 million in November 2023.

KSOE said in both of these order announcements that the owner was from Africa.

This year, KSOE and its units have received orders for a total of 96 ships worth $11.1 billion, including eight LNG carriers and one FSRU. This is equivalent to 82.2 percent of the group’s annual order target of $13.5 billion.

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Source: LNG Prime