On December 11, HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai Group’s shipbuilding business, announced it has secured a contract with an African shipowner to build two Very Large Ammonia Carriers (VLACs). The order is valued at 354.2 billion won (approximately $240 million), with each vessel costing about $120 million.
The newbuilds will be constructed by HD Hyundai Heavy Industries and are scheduled for delivery by the second half of 2028.
This marks the second new shipbuilding contract announced by HD KSOE this month. On the 2nd, the company announced a deal with South Korea’s Hyundai Glovis for one large LNG carrier, to be constructed by its subsidiary HD Hyundai Samho.
Including the latest orders, HD KSOE has accumulated 119 new ship orders this year, valued at approximately $16.76 billion, achieving 92.9% of its annual order target of $18.05 billion.
By vessel type, this includes 8 LNG carriers, 6 LNG bunkering vessels, 11 liquefied petroleum gas (LPG)/ammonia carriers, 2 ethane carriers, 71 container ships, 18 oil tankers, and 3 chemical tankers.