HD KSOE Obtains $241 Million Order For Two Ammonia Carriers

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  • HD KSOE secures a significant contract worth $241 million.
  • This includes 40 vessels ranging from VLACs to LNG carriers.
  •  HD Korea Shipbuilding notably exceeded its annual goal.

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) secures a significant contract worth $241 million to construct two very large ammonia carriers (VLACs) for an African shipping company, reports Offshore Energy.

Contract Details

The contract is valued at KRW 322.8 billion. It was confirmed through a stock exchange filing. The vessels are scheduled to be built at the HD Hyundai Heavy Industries shipyard in Ulsan and will be delivered by February 26, 2027.

Company Performance

HD KSOE has been robust in securing orders in 2024, accumulating $4.77 billion worth of contracts since the year began. 

This includes 40 vessels ranging from VLACs to LNG carriers, accounting for 35.3% of the shipbuilder’s annual target of $13.5 billion.

Comparison with Competitors

In contrast to HD KSOE’s successful performance, compatriot shipbuilders Samsung Heavy Industries (SHI) and Hanwha Ocean faced challenges in meeting their yearly order targets in 2023.

 HD Korea Shipbuilding notably exceeded its annual goal, showcasing its dominance in the domestic shipbuilding industry.

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Source: offshore energy