HD KSOE wins deal for 3 ultra-large ethane carriers at $500 mn

HD Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company of HD Hyundai, announced on Friday that it has secured a contract to build three large ethane carriers.

HD Korea Shipbuilding recently signed a contract with an Oceania-based shipping company for three ultra-large ethane carriers with a capacity of 98,000 cubic meters. The total contract amount is $500 million.

Ethane carriers are high-value vessels that require advanced technological expertise and shipbuilding know-how to maintain cargo hold temperatures as low as minus 94 degrees Celsius.

The ethane carriers awarded in this contract are ultra-large vessels with a length of 230 meters, width of 36.5 meters and height of 22.8 meters. They will be built at Ulsan HD Hyundai Heavy Industries and delivered to the shipowner sequentially by the first half of 2027.

With this contract, HD Korea Shipbuilding has secured a total of five ethane carrier contracts within a month, following the previous order for two ethane carriers last month.

In addition to ethane carriers, HD Korea Shipbuilding is leading the market by securing contracts for a total of 80 gas carriers, including 39 liquefied natural gas (LNG) carriers, 34 liquefied petroleum gas (LPG) and ammonia carriers, and two liquefied carbon dioxide carriers this year.

"As global demand continues to rise, inquiries for the construction of gas carriers are ongoing," said an official from HD Korea Shipbuilding. "Based on our abundant shipbuilding experience and technological capabilities, we plan to take the lead in the market for next-generation gas carriers such as those for ammonia and hydrogen."

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