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A panoramic view of the HD Hyundai Heavy Industries shipyard in Ulsan. / HD Hyundai

HD Korea Shipbuilding & Offshore Engineering has achieved more than 80% of its annual order target for this year by winning a 625.8 billion won contract for four very large gas carriers (VLGCs) from a Middle Eastern shipping company.   

HD Korea Shipbuilding & Offshore Engineering announced in a regulatory filing on the 15th that it signed a construction contract for four VLGCs with a shipping company based in the Middle East. The contract is valued at a total of 625.8 billion won, accounting for 3.56% of its consolidated revenue from last year.   

The newly ordered vessels will be built by HD Hyundai Heavy Industries and delivered sequentially by the first half of 2030. The contract period runs from the 14th of this month through June 30, 2030.With this contract, HD Korea Shipbuilding & Offshore Engineering's cumulative order intake for this year has risen to 174 vessels valued at $19.25 billion. This represents 82.6% of its annual order target of $23.31 billion, leaving $4.06 billion remaining to reach the target.   

By vessel type, the orders comprise 17 liquefied natural gas (LNG) carriers, 30 container ships, 57 liquefied petroleum gas (LPG), ammonia, and liquefied carbon dioxide carriers, 11 crude oil tankers, 53 product tankers (PC vessels), two pure car and truck carriers (PCTCs), two roll-on/roll-off (Ro-Ro) vessels, and two other vessels (icebreaker, FSRU).

                                                                                                             Kim So-young