The company has signed agreements with HD Hyundai Heavy Industries and HD Hyundai Samho for the supply of insulation systems to ultra-large ethane carriers (ULECs) and LNG carriers. The contracts are worth 321.6 billion won for HD Hyundai Heavy Industries and 89.3 billion won for HD Hyundai Samho.

Dongsung Finetec is making history as the first Korean company to provide insulation solutions for ultra-large ethane carriers, marking a significant expansion beyond its traditional focus on liquefied natural gas (LNG) carriers. The company’s technology will support the transport of ethane at ultra-low temperatures of minus 94°C—a key requirement for these high-value, complex vessels.

The new contracts represent a strategic shift for Dongsung Finetec as it diversifies its sales portfolio into new sectors within the cryogenic transport industry. This move into the ethane carrier market signals the company’s ability to adapt to evolving global energy needs and expand its footprint in the high-tech shipbuilding and insulation industries.

An official from Dongsung Finetec stated, “With the order for ultra-large ethane carriers, we are well-positioned to expand our business beyond LNG carriers and explore new opportunities in different types of ships. Our focus now is on securing additional orders for various new ship types in the future.”