HD Korea Shipbuilding & Offshore Engineering Wins 440 Billion KRW Order for Ultra-Large Ethane Carrier
HD Hyundai's intermediate holding company for shipbuilding, HD Hyundai Korea Shipbuilding & Offshore Engineering, has proven its competitiveness in the gas carrier market by securing orders for ethane carriers.
HD Hyundai Korea Shipbuilding & Offshore Engineering announced on the 17th that it recently signed a construction contract for two ultra-large ethane carriers with a capacity of 98,000㎥ each with an Asia-based shipping company. The contract amount is $340 million, approximately 444.4 billion KRW.
The ultra-large ethane carrier built by HD Hyundai Heavy Industries and delivered in 2022 (Photo by HD Korea Shipbuilding & Offshore Engineering)
View original imageThese ethane carriers measure 230m in length, 36.5m in width, and 22.8m in height, and will be built by Ulsan HD Hyundai Heavy Industries and delivered sequentially to the shipowner by the first half of 2027.
Ethane carriers transport ethane in a liquefied state by maintaining the cargo hold temperature at minus 94 degrees Celsius. Like LNG carriers, which have recently emerged as a major sector in Korean shipbuilding, these are high value-added vessels requiring advanced construction technology and expertise.
The ethane carriers ordered this time have a unit price of $170 million (approximately 220 billion KRW) each, setting the highest price for large ethane carriers.
Including this order, HD Hyundai Korea Shipbuilding & Offshore Engineering has secured a total of 71 gas carriers this year, leading the gas carrier market. By vessel type, they have ordered 39 LNG carriers, 28 LPG and ammonia carriers, 2 liquefied carbon dioxide carriers, and 2 ethane carriers.
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A representative of HD Hyundai Korea Shipbuilding & Offshore Engineering stated, "By securing various gas carrier orders including ethane carriers, we are broadening our spectrum," adding, "By accumulating extensive construction experience, we will also lead the next-generation gas carrier market such as hydrogen in the future."
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