Hyundai Heavy adds $724 mn order, reaching 29.5% of 2021 target

Hyundai Heavy Industries Group has won new orders worth 823 billion won ($724 million) to build a total of 10 vessels for four global clients in Africa, Europe and Oceania. 

The new order marks a total of 56 vessels worth $4.4 billion for Hyundai Heavy this year, thus so far achieving 29.5% of its 2021 annual target of $14.9 billion.

Hyundai Heavy announced on Mar. 15 that it landed orders for four 300,000-ton very large crude-oil carriers (VLCCs); three large 91,000-cubic meter liquefied petroleum gas (LPG) carriers; one 40,000-cubic meter LPG carrier and two 50,000-cubic meter petroleum carriers (PCs).

The contracts for LPG carriers include an option for additional orders in the future.

The VLCCs and the 91,000-cubic meter LPG carriers will be constructed by Hyundai Heavy Industries Co. and Hyundai Samho Heavy Industries Co., respectively, to be delivered from the second half of 2022.

The 40,000-cubic meter LPG carrier to be delivered by the first half of 2023 will be constructed at Hyundai Mipo Dockyard Co., and PCs to be delivered from the second half of 2022 will be built at Hyundai Vietnam Shipbuilding.

The VLCCs will be equipped with scrubbers that help reduce sulfur emissions, in response to strengthened regulations by the International Maritime Organization (IMO), while the LPG carriers will also be equipped with dual fuel engines, which use oil and LNG (liquefied natural gas) alternately to reduce carbon emissions.

Write to Man-Su Choe at bebop@hankyung.com
Daniel Cho edited this article.