HD Korea Shipbuilding Secures 688 Billion-Won Order For 4 Oil Tankers

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  • HD Korea Shipbuilding & Offshore Engineering Co., a major South Korean shipyard, has announced the acquisition of a significant order worth 688 billion won (approximately $525.4 million) to build four crude oil carriers for a European shipper.
  • The construction will be carried out by Hyundai Samho Heavy Industries Co., one of HD Korea Shipbuilding’s three shipbuilding units, at its shipyard in Yeongam.
  • The vessels are expected to be delivered to the undisclosed European shipping company by December 2027.

This order contributes to HD Korea Shipbuilding’s progress towards its yearly target, as it has already secured orders for 69 vessels valued at $8.38 billion, which accounts for 62 percent of its yearly target of $13.5 billion. The variety of vessels ordered includes liquefied natural gas carriers, petrochemical carriers, liquefied petroleum gas and ammonia carriers, as well as very large and ultra-large crude carriers. HD Korea Shipbuilding, a subholding company of the conglomerate HD Hyundai, oversees three domestic units HD Hyundai Heavy Industries Co., Hyundai Mipo Dockyard, and Hyundai Samho Heavy Industries.

HD Korea Shipbuilding & Offshore Engineering Co., a major South Korean shipyard, has successfully secured an order worth 688 billion won (approximately $525.4 million) to construct four crude oil carriers for a European shipping company.

Construction Location

Hyundai Samho Heavy Industries Co., one of HD Korea Shipbuilding’s shipbuilding units, will undertake the construction of the carriers at its shipyard located in Yeongam, a southwestern city in South Korea.

Delivery Schedule

The vessels are scheduled to be delivered to the undisclosed European shipping company by December 2027.

Progress Towards Yearly Target

This latest order contributes significantly to HD Korea Shipbuilding’s progress towards its yearly target. The company has already secured orders for 69 vessels valued at $8.38 billion, which represents 62 percent of its yearly target of $13.5 billion.

Variety of Vessels Ordered

The vessels ordered include a diverse range, such as six liquefied natural gas carriers, 26 petrochemical carriers, 21 liquefied petroleum gas and ammonia carriers, and six very large and ultra-large crude carriers.

Corporate Structure

HD Korea Shipbuilding is a subholding company of HD Hyundai, a conglomerate involved in shipbuilding, oil refining, and machinery. It oversees three domestic shipbuilding units HD Hyundai Heavy Industries Co., Hyundai Mipo Dockyard, and Hyundai Samho Heavy Industries.

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Source Yonhap News

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