On March 5, HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai Group’s shipbuilding business, announced that it had signed a contract with an American shipowner to build four liquefied natural gas (LNG) carriers. The total order value is 1.4872 trillion won (approximately US$1.02 billion).
The LNG carriers will be built by HD Hyundai Heavy Industries and are expected to be delivered in the second half of 2029.
Although HD KSOE did not disclose the shipowner information, on February 27, Norwegian shipowner and sale-leaseback company Ocean Yield and Nippon Yusen Kaisha (NYK) announced that they would exercise their option to HD Hyundai Heavy Industries for four 200,000 m³ LNG carriers.
The first four vessels were announced on January 6, 2026, marking the first LNG carrier order released this year. The total cost for the initial four vessels is approximately US$1.04 billion. Including the latest order, the eight new vessels have a combined value exceeding US$2 billion.
This LNG carrier measures 294.8 meters in length, 48.9 meters in width, and 26.7 meters in height. It boasts a larger cargo capacity than conventional 174,000 m³ LNG carriers, enabling it to transport more cargo in a single voyage. Equipped with cutting-edge technologies such as high-efficiency shaft generators and LNG reliquefaction systems, it maximizes operational efficiency. For shipowners, this vessel type significantly reduces unit transportation costs and is hailed as a “high-efficiency” vessel.
Including the latest orders, HD KSOE has secured orders for 29 new vessels worth US$4.38 billion so far this year, achieving 18.8% of its annual order target of US$23.31 billion.
By vessel type, the orders include 10 LNG carriers, 10 container ships, 3 liquefied petroleum gas (LPG)/ammonia carriers, 4 very large crude carriers (VLCCs), and 2 product tankers.