HD KSOE secures $938 mn contract for 5 LNG-powered container ships

HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate shipbuilding holding company of HD Hyundai Co., said on Thursday that it has recently secured a contract to build five 15,500 twenty-foot equivalent unit (TEU) class liquefied natural gas (LNG)-powered ultra-large container ships for Taiwanese shipping company YangMing Marine Transport Corp. The total order amount is about 1.24 trillion won ($938 million).

The ordered vessels, set to be built at HD Hyundai Heavy Industries Co.'s Ulsan plant, are 365 meters in length, 51 meters in width and 29.85 meters in height. Delivery to the shipowner is planned from 2026 onwards sequentially.

These vessels will be eco-friendly ships equipped with LNG-powered engines, enabling them to comply with the more stringent environmental regulations of the International Maritime Organization (IMO), according to HD KSOE.

So far this year, the shipbuilder has secured orders for a total of 93 vessels. The cumulative order volume stands at $11.4 billion, achieving 72.6% of its annual order target of $15.7 billion to date.

The orders include 29 petroleum product carriers, three tankers, 24 container ships, 16 LNG carriers, 14 liquefied petroleum gas (LPG) carriers and two medium-sized gas carriers.

Write to Mi-Sun Kang at misunny@hankyung.com