[Yonhap News Agency/July 5, 2024] HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has clinched a significant contract worth 328.6 billion won ($237.7 million) to construct two very large ammonia carriers (VLACs) for a European client.

The order was confirmed on the 4th, according to a regulatory filing by the South Korean shipyard.

The vessels will be built by HD Hyundai Samho, a subsidiary of HD KSOE, at its shipyard located in Yeongam, South Jeolla. They are scheduled for delivery to the undisclosed shipping company by September 2028.

In 2024 alone, HD KSOE has already secured orders for 118 vessels valued at $12.6 billion, achieving 93.2% of its annual target of $13.5 billion. These orders encompass a variety of ship types, including 8 LNG carriers, 52 petrochemical carriers, 38 ammonia and liquefied petroleum gas carriers, and 6 very large crude carriers.

HD KSOE operates as a subholding company under the HD Hyundai conglomerate, which includes shipbuilding, oil refining, and machinery sectors. HD KSOE's domestic units include HD Hyundai Heavy Industries, HD Hyundai Mipo, and HD Hyundai Samho.