HD Korea Shipbuilding & Offshore Engineering Secures First Order of the New Year for Two LPG Carriers Worth 300 Billion KRW

HD Hyundai Heavy Industries has secured orders for two ultra-large LPG carriers for the first time this year.

HD Hyundai Heavy Industries announced on the 5th that it recently signed a construction contract with a European shipping company for two 88,000㎥ class LPG carriers. The contract is worth 303.2 billion KRW.

The sea trial of the ultra-large LPG carrier (VLGC) built and delivered by HD Hyundai Heavy Industries in 2023 (Photo by HD Korea Shipbuilding & Offshore Engineering)

The LPG carriers ordered this time are 230m long, 32.25m wide, and 23.85m high, and will be built at HD Hyundai Heavy Industries in Ulsan and delivered sequentially to the shipowner in the first half of 2027.

HD Hyundai Heavy Industries is leading the LPG and ammonia carrier market, having secured 23 out of 39 LPG and ammonia carriers ordered last year, accounting for 60% of the total.

An official from HD Hyundai Heavy Industries said, "Demand for gas carriers is expected to continue this year," adding, "We will secure an absolute technological gap that competitors cannot follow through continuous research and development."

HD Hyundai Heavy Industries set its order target for this year at 13.5 billion USD. With recent order wins securing three years' worth of work, the order target has decreased compared to last year (15.74 billion USD).

This content was produced with the assistance of AI translation services.