[KSOE Press release/ January 11, 2024] HD Korea Shipbuilding & Offshore Engineering (KSOE), the pivotal holding company overseeing HD Hyundai’s shipbuilding arm, announced on January 10 the attainment of substantial contracts for 25 vessels. These contracts, amounting to a staggering 2.82 trillion won (US$2.14 billion), were inked over an impressive six-day span from January 4 to 9.

The geographic scope of these achievements spans Europe, Oceania, Asia, and the Middle East, with shipowners from these regions contributing to the remarkable success. The vessels included in these lucrative agreements encompass two large ammonia carriers, 15 medium-sized product carriers (PC), six large liquefied petroleum gas (LPG) carriers, and two liquefied natural gas (LNG) carriers.

Commencing the year on a high note, on January 4, the company unveiled its inaugural order by sealing a construction deal for two 88,000-cubic-meter LPG carriers.

On January 6, HD KSOE secured an order for two colossal ammonia carriers boasting an 88,000-cubic-meter capacity from an Oceania-based shipping entity. These vessels, renowned for being the largest size navigable through the Panama Canal, are equipped with cutting-edge LPG dual-fuel propulsion engines. The contract for these marvels is valued at an impressive 317.3 billion won, and production will take place at HD Hyundai Heavy Industries’ facility in Ulsan, with delivery scheduled for the first half of 2027.

On January 8, the company clinched an order for 15 medium-sized PC ships from an Asian shipping company, totaling an impressive 942.5 billion won. These vessels, with dimensions measuring 183 meters in length, 32.2 meters in width, and 19.1 meters in height, will be constructed at Hyundai Mipo Dockyard in Ulsan, with sequential delivery to the shipowner expected by the second half of 2026.

On January 9, HD KSOE secured an order from a Middle Eastern shipping company for four 88,000-cubic-meter LPG carriers equipped with dual-fuel propulsion engines and two 174,000-cubic-meter LNG carriers. The overall contract value for these six vessels stands at a formidable 1.26 trillion won, and the manufacturing hub will be Hyundai Samho Heavy Industries in Yeongam, South Jeolla Province, with delivery set for the shipowner by the second half of 2027.

This extraordinary accomplishment solidifies HD Korea Shipbuilding & Offshore Engineering's prominence in the global shipbuilding landscape, underscoring its capacity to secure substantial contracts across diverse vessel categories and geographical regions.