Key Points:
- HD Korea Shipbuilding & Offshore Engineering secures orders worth $454 million to build four LPG ships and two PCs for clients in Oceania and Europe.
- The vessels will be constructed at HD Hyundai Mipo Dockyard and HD Hyundai Vietnam Shipbuilding, with delivery expected by 2027.
- HD KSOE has achieved 68 percent of its annual order target for the year, with $9.19 billion secured against a target of $13.5 billion.
- The company attributes its conservative order target to its substantial backlog of ship orders from previous years.
HD Korea Shipbuilding & Offshore Engineering (HD KSOE) announced on Monday that it had clinched orders worth 612 billion won ($454 million) to construct four liquefied petroleum gas (LPG) ships and two product carriers (PCs) for clients in Oceania and Europe.
According to a statement released by HD KSOE, the company revealed the order for LPG ships in the Oceania region and the PC deal in Europe. The four LPG ships will be manufactured at HD Hyundai Mipo Dockyard, while the two PCs will be built at HD Hyundai Vietnam Shipbuilding. The vessels are scheduled for delivery by May 2027 and November 2027, respectively.
Formerly known as Hyundai Vinashin Shipyard, HD Hyundai Vietnam Shipbuilding is set to play a crucial role in fulfilling these orders.
With the addition of these latest contracts, HD KSOE has now achieved 68 percent, equivalent to $9.19 billion, of its annual order target of $13.5 billion for the current year.
The company attributed its slightly conservative order target for the year to its already substantial backlog of ship orders, ensuring a steady workload for the foreseeable future. In 2023, HD KSOE surpassed its annual target, securing $22.6 billion worth of ship orders against a target of $15.7 billion.
HD KSOE oversees three shipbuilding subsidiaries: HD Hyundai Heavy Industries, HD Hyundai Mipo Dockyard, and HD Hyundai Samho Heavy Industries. HD Hyundai, formerly known as Hyundai Heavy Industries Holdings, operates HD KSOE as a subholding company under its umbrella.
