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HD Korea Shipbuilding wins 303 bln-won LPG ship order

Posted on January 8, 2024

SEOUL, Jan. 5 (Yonhap) — HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Friday it has received a 303 billion-won (US$230 million) deal to build two liquefied petroleum gas (LPG) ships for a European shipper by June 2027.

The two LPG carriers will be built at the shipyard of HD Hyundai Heavy Industries Co. for delivery in the first half of 2027, HD KSOE said in a statement.

HD Hyundai, formerly known as Hyundai Heavy Industries Holdings, has HD KSOE as a subholding company under its wing.

HD KSOE has three affiliates — HD Hyundai Heavy Industries, Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries.

For the whole of 2023, the country’s leading shipbuilder obtained ship orders worth $22.6 billion, far exceeding its annual order target of $15.7 billion.

HD KSOE has set a conservative order target of $13.5 billion for this year as it has already secured ample ship orders for years to come, a company spokesperson said.

It had an order backlog of $65 billion, which will keep the shipyards of its affiliates busy for more than three years, at the end of November, he said.


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