iMarine

Hyundai Vietnam Shipbuilding Receives Order for 2 Product Tankers

HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai Group’s shipbuilding business, announced on May 17 that it has signed a contract for the construction of two product tankers with an Asian shipping company, with a total order value of KRW 133.2 billion (about US$98.32 million).

The new shipbuildings will be built by HD Hyundai Vietnam Shipbuilding and are expected to be delivered in August 2027.

This is the third shipbuilding contract made public by HD KSOE this month. The remaining two were made public on May 2 and May 3, including four medium-sized ammonia dual-fuel gas carriers signed between HD Hyundai Mipo and Swiss commodities trading giant Trafigura; and two 174,000 m3 LNG carriers signed between HD Hyundai Heavy Industries and Greek shipping company Evalend Shipping.

Including the latest order, HD KSOE has taken orders for 98 new vessels valued at about $11.33 billion (about KRW 1,536.1 trillion), achieving 83.9% of its annual order target of $13.5 billion.

By vessel type, it includes 8 LNG carriers, 34 product tankers, 36 LPG/ammonia carriers, 1 Very Large Ethane Carrier (VLEC), 2 liquefied carbon dioxide carriers, 6 Very Large Crude Carriers (VLCCs), 3 medium-sized crude oil tankers, 2 car carriers (PCTCs), 1 FSRU, 1 offshore unit, and 4 special vessels.

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