[Yonhap/November 8, 2024] HD Korea Shipbuilding & Ocean Engineering Co. (KSOE), a subsidiary of HD Hyundai, announced on the 8th that it has signed a contract with several Asian shipping companies to build four liquefied natural gas(LNG) bunker vessels. The total value of the contract is 514.8 billion won.

The LNG bunker vessels will be constructed at HD Hyundai Mipo shipyard and are expected to be delivered by October 2028. These vessels are essential for refueling LNG-powered ships at sea, and as the global fleet of LNG-fueled vessels continues to grow, demand for LNG bunkering ships is anticipated to rise.

Since 2018, HD Hyundai Mipo has delivered five LNG bunkering ships, and it has already secured seven more orders in the second half of this year alone. The company is committed to maintaining its leadership in the eco-friendly shipbuilding sector, driven by its advanced technology and engineering expertise.

As of now, KSOE has accumulated a total of 175 ship orders (including one marine facility), valued at $19.5 billion. This figure represents 144.6% of its annual order target, which was set at $13.5 billion for the year, reflecting the company’s strong performance and market demand.