On November 9, HD Korea Shipbuilding & Offshore Engineering (HD KSOE)—the intermediate shipbuilding holding company of HD Hyundai—announced that it has signed a contract with an African shipowner to build two liquefied natural gas (LNG) carriers. The total value of the contract is 662.9 billion KRW (approximately $460 million), which translates to a cost of about $230 million per vessel. The vessels will be constructed by HD Hyundai Heavy Industries and are scheduled for delivery in the second half of 2029.
With the addition of these latest orders, HD KSOE has secured a cumulative total of 195 newbuild orders so far this year, valued at $21.69 billion—reaching 93.1% of its annual order target of $23.31 billion.
By vessel type, the orders include 19 LNG carriers, 38 container ships, 62 LPG/ammonia/liquid CO2 carriers, 11 crude oil tankers, 59 product tankers, 2 car carriers, 2 Ro-Ro vessels, 1 icebreaker, and 1 floating storage and regasification unit (LNG-FSRU).
A few days ago, HD KSOE announced its financial results for the third quarter of 2026. During the reporting period, the company recorded revenue of 8.28 trillion KRW, an increase of 9.3% year-on-year, and an operating profit of 1.45 trillion KRW, up 37.3% year-on-year. Despite robust demand in the shipbuilding market, net profit fell by 11.4% year-on-year—from 876.7 billion KRW to 777 billion KRW.