HD KSOE has clinched an order to construct two LNG carriers

On November 14, HD Korea Shipbuilding & Offshore Engineering Co., Ltd.(HD KSOE) announced that it has signed a contract with an African shipowner for the construction of two 174,000 cubic meter liquefied natural gas (LNG) carriers.

The new vessels will be built by HD Hyundai Heavy Industries and are scheduled to be delivered to the owner in February 2028 at a cost of KRW 349.1 billion (about US$265 million) per vessel, for a total order value of KRW 698.1 billion (about US$530 million). Although the dollar value of the order is on par with the price of the two LNG carriers order signed by HD Hyundai Heavy Industries in August this year, the value of the latest order in Korean won is higher due to the rising exchange rate, making it the highest order ever.

HD Hyundai Heavy Industries is understood to have set an annual target of $9.44 billion in shipbuilding and offshore engineering (excluding engines) earlier this year.Currently, the shipbuilder has secured orders worth $12.77 billion, and its order-taking rate has reached 119.4 percent.

With the latest order, HD KSOE has taken orders for 147 new vessels worth US$20.89 billion this year, accomplishing 132.7% of its annual order target of US$15.74 billion. With the finalization of two LNG carriers, HD KSOE’s order booked for LNG carriers this year has reached 39 vessels, currently accounting for the largest share of the annual order book.

In terms of vessel type, it includes 39 liquefied natural gas (LNG) carriers, 37 product tankers, 29 container ships, 26 liquefied petroleum gas (LPG) carriers, 7 tankers, 4 car carriers (PCTC), 2 liquefied carbon dioxide (CO2) carriers, 2 medium-sized gas carriers, and 1 FPU.

Yangzijiang Shipbuilding

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