South Korea’s HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has secured a contract to construct a very large gas carrier (VLGC) for a shipowner based in Europe. This agreement adds to the shipyard’s impressive record of gas carrier contracts secured earlier this year.
The contract, valued at 175.8 billion Korean won (approximately USD 121 million), was disclosed by the shipbuilding company. The construction will be carried out by its subsidiary, HD Hyundai Samho, with the vessel’s delivery expected in the first half of 2028. However, specific technical details, including the propulsion system, have yet to be released.
With this latest order, HD KSOE has now accumulated five newbuild contracts in 2023, totaling around USD 1.16 billion. This figure represents about 5 percent of the company’s annual order target of USD 23.31 billion. So far this year, the company’s orders include four LNG carriers and one LPG/ammonia-capable gas carrier, highlighting the ongoing demand for high-value gas-fueled and gas-carrying vessels at South Korean shipyards.
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