- HD KSOE has an order for the VLGC ships.
- The influx of orders has propelled HD KSOE to reach 17.7 percent.
- The diversified orders encompass 2 very large ammonia carriers
In a remarkable beginning to the new year, HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) has reaffirmed its industry dominance by securing an order for the construction of two Very Large Gas Carrier (VLGC) ships, reports Offshore Energy.
Middle Eastern Shipping Company Invests $235 Million
The undisclosed shipping company based in the Middle East placed the order, valuing it at KRW 310 billion ($235 million).
Project Timeline: VLGCs Expected by November 2027
The Korean shipbuilding major has outlined that the two VLGCs are slated for completion by the end of November 2027.
Impressive Series of Orders in January 2024
HD KSOE has achieved a significant milestone by winning orders for a total of 25 ships in the first weeks of January 2024.
Diverse International Deals Totaling $2.15 Billion
The recent triumph includes orders worth approximately $2.15 billion with shipping conglomerates from Europe, Oceania, Asia, and the Middle East.
Varied Fleet: Ammonia Carriers, PC Ships, LPG Carriers, and LNG Carriers
The diversified orders encompass 2 very large ammonia carriers, 15 medium-sized PC ships, 6 very large LPG carriers, and two LNG carriers.
Progress Towards Annual Target: 17.7% Achieved
The influx of orders has propelled HD KSOE to reach 17.7 percent of its annual order target of $13.5 billion for 2024.
Strategic Approach: Conservative Annual Target Despite Previous Success
Despite achieving a staggering $22.6 billion in ship orders last year, exceeding the annual target of $15.7 billion, the leading shipbuilder strategically set a “conservative” order target for the current year.
Industry Leadership: Exceeding Targets Amidst Competition
HD KSOE, as the only South Korean yard of the ‘Big Three’ to meet and exceed its annual targets last year, has outperformed competitors, leaving behind Hanwha Ocean and Samsung Heavy Industries.
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Source: offshore energy
