[KOLBIA/ August 25, 2023] In a recent development, HD Korea Shipbuilding & Offshore Engineering has clinched a significant deal for the construction of two super-large LPG carriers (VLGCs). The Norwegian shipping giant, Solvang ASA, has emerged as a pivotal collaborator in this endeavor.

The announcement was made on August 21, as HD Korea Shipbuilding & Offshore Engineering revealed that it successfully secured an order for the construction of two mega LPG carriers from a prominent European shipping company. The contractual value of this deal stands at an impressive 288.2 billion Korean won. The shipbuilding operations will be carried out by none other than HD Hyundai Heavy Industries, with an ambitious delivery target set for July 30, 2027.

Industry insiders have identified the European shipping company in question as Solvang ASA. This recent order has substantially bolstered Solvang ASA's existing fleet of VLGCs, elevating their tally to a total of five ships.

Experts in the shipbuilding sector have shed light on the origins of these new vessels. They stem from an option that was part of Solvang ASA's agreement with HD Hyundai Heavy Industries, initially inked in July. Notably, the VLGCs will be constructed at a capacity of 88,000 cubic meters but designed to adhere to the dimensions of the older Panama Canal, famously known for its traditional Panamax size.

The initial vessel within this 5 VLGC series is projected to be ready for delivery in 2026, with the final vessel anticipated to follow suit by July 2027.

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