HD Korea Shipbuilding wins $454 mil. ship orders in Oceania, Europe

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HD Korea Shipbuilding & Offshore Engineering said Monday it has received 612 billion won ($454 million) in orders to build four liquefied petroleum gas (LPG) ships and two product carriers (PCs) for shippers in the Oceania and Europe regions.

HD KSOE obtained the LPG ship order in the Oceania region and the PC deal in Europe, the company said in a statement.

Four LPG ships will be built at HD Hyundai Mipo Dockyard and two PCs will be constructed at HD Hyundai Vietnam Shipbuilding for delivery by May 2027 and November 2027, respectively, it said.

HD Hyundai Vietnam Shipbuilding was formerly known as Hyundai Vinashin Shipyard.

With these latest orders, the country’s leading shipbuilder has achieved 68 percent, or $9.19 billion, of its annual order target of $13.5 billion for the year.

The company said it has set a “conservative” order target this year compared with its achievement last year because it has already secured ample ship orders for years to come.

In 2023, it obtained $22.6 billion worth of ship orders, far exceeding its annual target of $15.7 billion.

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

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

Source: Yonhap