HD Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company of HD Hyundai Shipbuilding, recently announced that it has signed a contract for the construction of three very large ammonia carriers (VLACs) with a shipping company in Latin America, reports Business Korea.
About the order
The total order value is 491.1 billion won (US$367.4 million). The vessels will be built by HD HHI in Ulsan and delivered to the client by June 2028.
HD KSOE has signed a total of 32 vessels and US$3 billion in orders this year, marking 22 percent of its order intake target of US$13.5 billion. Of these, 11 are VLACs.
Ammonia is a next-generation eco-friendly fuel that does not emit carbon dioxide when burned. Demand for ships capable of carrying it is on the uptick.
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Source: Business Korea