HD KSOE secures $319 mn contract for three VLGC

HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate shipbuilding holding company of HD Hyundai Co., announced on Friday that it has secured a contract with a European-based shipping company for three very large gas carriers (VLGC), which are a type of liquefied petroleum gas (LPG) carrier. The contract is valued at 416.2 billion won ($319 million).

The vessels ordered will be constructed at Ulsan HD Hyundai Heavy Industries and are scheduled for delivery by December 2026. With this new order, HD KSOE has secured a total of 110 vessels (including one offshore facility) for this year.

The cumulative order amount now stands at $14.39 billion (18.82 trillion won), achieving about 91.4% of the annual order target of $15.74 billion.

The breakdown of vessel types includes 33 petrochemical product carriers (PC ships), three tankers, 29 containerships, 18 liquefied natural gas (LNG) carriers, 20 LPG carriers, two mid-sized gas carriers, four pure car and truck carriers (PCTC) and one offshore facility.

Write to Jae-Fu Kim at hu@hankyung.com