HD KSOE Attains 73% Of Annual Order Target In 100 Days


The Marycam Swan, now known as the Trammo Marycam, is an LPG tanker flying under the flag of Singapore and built by HD KSOE in 2009.

Eco-friendly ships 

HD Hyundai Group’s shipbuilders have achieved 73 percent of this year’s order target in the first 100 days of this year. In particular, they are enjoying a boom in eco-friendly ships for the first time in 15 years, as they have been selecting only high-value-added vessels to fill its docks.

According to the shipbuilding industry on April 15, HD Korea Shipbuilding & Offshore Engineering (KSOE), a shipbuilding company of HD Hyundai Group, has won a total of 86 orders so far this year, accumulating an order backlog of US$9.86 billion.

Quality of orders improved 

The quality of orders has also improved. HD KSOE won contracts to build six liquefied natural gas (LNG) carriers, 32 PC carriers, 32 liquefied petroleum gas (LPG) carriers and very large ammonia carriers (VLACs), one ethanol carrier, two liquefied carbon dioxide carriers, six very large crude carriers (VLCCs), three tankers, two car carriers (PCTCs), one floating storage and regasification unit (FSRU), and one offshore facility. The Korean shipbuilding giant has filled its docks with high-value vessels such as VLACs and LNG carriers this year.

This year, HD KSOE landed many VLAC orders. Carrying ammonia is considered to be the most efficient way to transport hydrogen being promoted as a green energy source.

Korean shipbuilders such as HD KSOE and Hanwha Ocean have seen a big increase in orders, with an ammonia carrier being the first vessel ordered in the New Year of 2024.

HD KSOE was the only one of the three major Korean shipbuilders to achieve its annual order target in 2023. It won a total of US$22.32 billion in orders in 2023, about 141.9 percent of its target.

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Source : Businesskorea